This Mortgage calculator is used to estimate monthly & total payments for the mortgage loan, including various loan amounts, terms and interest rates. It’s exceptionally easy to use and it solves a lot of issues by providing the relevant information instantly.

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The Mortgage calculator is a simple yet extremely powerful tool that helps to build trust between customer and lender, a trait that has always played an important role in the financial sector.

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Formula

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Monthly Payment = (Home Value - Down Payment) * ((Interest Rate /12/100)*((1 + Interest Rate /12/100))) ^ (Loan Term * 12)) / (((1 + (Interest Rate /12/100)) ^ (Loan Term * 12)) - 1)

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