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.
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.
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