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Mortgage Payment Calculator
Calculate your monthly mortgage payment based on loan amount, interest rate, and loan term. Plan your home purchase with confidence.
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Fill in the fields above and click Calculate to see your results.
How to use
Calculate your monthly mortgage payment based on loan amount, interest rate, and loan term. Plan your home purchase with confidence.
How it's calculated
Monthly Payment
loan_amount * (annual_interest_rate / 100 / 12) * Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) / (Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) - 1)
Fixed monthly payment for principal and interest
Total Amount Paid
loan_amount * (annual_interest_rate / 100 / 12) * Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) / (Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) - 1) * loan_term_years * 12
Total of all payments over the loan term
Total Interest Paid
loan_amount * (annual_interest_rate / 100 / 12) * Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) / (Math.pow(1 + annual_interest_rate / 100 / 12, loan_term_years * 12) - 1) * loan_term_years * 12 - loan_amount
Total interest cost over the full loan term
Examples
Apartment purchase in Hanoi
- Loan Amount:2,000,000,000
- Loan Term:20
- Annual Interest Rate:9
Frequently Asked Questions
How is the monthly mortgage payment calculated?
The monthly payment uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.
Should I choose a shorter or longer loan term?
A shorter term means higher monthly payments but significantly less total interest paid. A longer term lowers monthly payments but increases total cost. Choose based on your monthly cash flow capacity.