Mortgage Calculator

This free **mortgage calculator** helps you estimate your monthly **home loan payments**. By entering loan amount, interest rate, and loan term, this **monthly mortgage payment calculator** shows you how much you’ll pay each month and the total interest over the life of the loan.

Loan Amount ($) Annual Interest Rate (%) Loan Term (years)

How This Mortgage Calculator Works

The calculator uses the standard **loan repayment formula**:

EMI = P × r × (1+r)^n / ((1+r)^n − 1)

• P = Loan Amount
• r = Monthly Interest Rate
• n = Number of Payments (months)

Example:

Loan = $250,000 | Interest = 6.5% | Term = 30 years

• Monthly Payment ≈ $1,580
• Total Interest ≈ $318,000
• Total Payment ≈ $568,000

Note: This **mortgage payment estimator** does not include taxes or insurance. For exact numbers, contact your bank or financial advisor.