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Mortgage Calculator
Calculate mortgage payments and affordability
Mortgage Details
Enter your mortgage information to calculate payments
Mortgage Summary
Your mortgage payment breakdown
Enter mortgage details to see your payment breakdown
About Mortgage Calculations
Understanding your mortgage payments
This mortgage calculator helps you understand your monthly payments, total interest costs, and payment schedule for fixed-rate mortgages.
Formula: M = P[r(1+r)^n]/[(1+r)^n-1]
Where:
- M = Monthly payment
- P = Principal loan amount (Home Price - Down Payment)
- r = Monthly interest rate
- n = Total number of payments
Note: This calculator provides estimates for fixed-rate mortgages. Actual mortgage terms may vary based on credit score, lender requirements, property type, and other factors. Always consult with a mortgage advisor for personalized advice.