Calculate your monthly mortgage payment using the standard amortization formula.
A mortgage calculator estimates your monthly home loan payment based on the loan amount, interest rate, and loan term. The formula used is:
Where P = principal loan amount, r = monthly interest rate (annual rate ÷ 12), n = total number of monthly payments. For example, a $280,000 mortgage at 6.5% over 30 years results in a monthly payment of approximately $1,771.