Mortgage Calculator
Enter the price, down payment, rate and term to see the monthly payment and the interest paid over the life of the loan.
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Principal and interest use the standard fixed-rate formula: payment = P × r ÷ (1 − (1 + r)−n), where P is the loan amount, r the monthly rate and n the number of monthly payments. Property tax, insurance and HOA dues are added as one-twelfth of the yearly figure.
What it leaves out
Mortgage insurance, which lenders usually require when the down payment is under 20%, closing costs, and changes in tax or insurance over time. A lender's Loan Estimate is the figure to rely on.