# Mortgage Loan Calculator

### How to Calculate Mortgage?

The mortgage is defined by the formula:
\$\$M=Pfrac{r(1+r)^n}{(1+r)^n-1}\$\$
where \$M\$ is the monthly payment, \$P\$ is the principal, \$r\$ is the monthly interest rate, \$n\$ is the number of months that we will repay the loan.
To calculate monthly interest rate we will divide the annual interest rate by \$12\$.
For example, for property value of \$\$100,000\$ and down payment of \$\$25,000\$, interest rate of \$4.2%\$ (this divided by \$12\$ equals \$r=0.0035\$) and loan terms of \$6\$ years (\$n=6times 12=72\$ months), we get

\$\$M=75,000frac{0.0035(1+0.0035)^{72}}{(1+0.0035)^{72}-1}=\$1180.24\$\$

So, the monthly payment is \$\$1180.24\$. The total sum of all payments, total repayments, is
\$\$\$1180.24times 72=\$84977.3\$\$
Here we give some mortgage examples over \$30,\$ \$20,\$ \$15\$ and \$10\$ years.

• Monthly repayment comparison for \$\$50,000\$ mortgage over \$30,\$ \$20,\$ \$15\$ and \$10\$ years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 218 \$ 284 \$ 351 \$ 489
3.50 % \$ 225 \$ 290 \$ 357 \$ 494
3.75 % \$ 232 \$ 296 \$ 364 \$ 500
4.00 % \$ 239 \$ 303 \$ 370 \$ 506
4.25 % \$ 246 \$ 310 \$ 376 \$ 512
4.50 % \$ 253 \$ 316 \$ 383 \$ 518
4.75 % \$ 261 \$ 323 \$ 389 \$ 524
5.00 % \$ 268 \$ 330 \$ 395 \$ 530
• Monthly repayment comparison for \$75, 000 mortgage over 30, 20, 15 and 10 years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 326 \$ 425 \$ 527 \$ 733
3.50 % \$ 337 \$ 435 \$ 536 \$ 742
3.75 % \$ 347 \$ 445 \$ 545 \$ 750
4.00 % \$ 358 \$ 454 \$ 555 \$ 759
4.25 % \$ 369 \$ 464 \$ 564 \$ 768
4.50 % \$ 380 \$ 474 \$ 574 \$ 777
4.75 % \$ 391 \$ 485 \$ 583 \$ 786
5.00 % \$ 403 \$ 495 \$ 593 \$ 795
• Monthly repayment comparison for \$80, 000 mortgage over 30, 20, 15 and 10 years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 348 \$ 454 \$ 562 \$ 782
3.50 % \$ 359 \$ 464 \$ 572 \$ 791
3.75 % \$ 370 \$ 474 \$ 582 \$ 800
4.00 % \$ 382 \$ 485 \$ 592 \$ 810
4.25 % \$ 394 \$ 495 \$ 602 \$ 820
4.50 % \$ 405 \$ 506 \$ 612 \$ 829
4.75 % \$ 417 \$ 517 \$ 622 \$ 839
5.00 % \$ 423 \$ 528 \$ 633 \$ 849
• Monthly repayment comparison for \$90, 000 mortgage over 30, 20, 15 and 10 years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 392 \$ 510 \$ 632 \$ 879
3.50 % \$ 404 \$ 522 \$ 643 \$ 890
3.75 % \$ 417 \$ 534 \$ 655 \$ 901
4.00 % \$ 430 \$ 545 \$ 666 \$ 911
4.25 % \$ 443 \$ 557 \$ 677 \$ 922
4.50 % \$ 456 \$ 569 \$ 688 \$ 933
4.75 % \$ 469 \$ 582 \$ 700 \$ 944
5.00 % \$ 483 \$ 594 \$ 712 \$ 955
• Monthly repayment comparison for \$100, 000 mortgage over 30, 20, 15 and 10 years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 435 \$ 567 \$ 703 \$ 977
3.50 % \$ 449 \$ 580 \$ 715 \$ 989
3.75 % \$ 463 \$ 593 \$ 727 \$ 1001
4.00 % \$ 477 \$ 606 \$ 740 \$ 1012
4.25 % \$ 492 \$ 619 \$ 752 \$ 1024
4.50 % \$ 507 \$ 633 \$ 765 \$ 1036
4.75 % \$ 522 \$ 646 \$ 778 \$ 1048
5.00 % \$ 537 \$ 660 \$ 791 \$ 1061
• Monthly repayment comparison for \$125, 000 mortgage over 30, 20, 15 and 10 years.
Interest Rate 30 years 20 years 15 years 10 years
3.25 % \$ 544 \$ 703 \$ 878 \$ 1221
3.50 % \$ 561 \$ 725 \$ 894 \$ 1236
3.75 % \$ 579 \$ 741 \$ 909 \$ 1251
4.00 % \$ 597 \$ 757 \$ 925 \$ 1266
4.25 % \$ 615 \$ 774 \$ 940 \$ 1280
4.50 % \$ 633 \$ 791 \$ 956 \$ 1295
4.75 % \$ 652 \$ 808 \$ 972 \$ 1311
5.00 % \$ 671 \$ 825 \$ 988 \$ 1326

For any other property value, interest rate, loan terms and down payment just supply four positive real numbers and click on the CALCULATE button.

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## 18 thoughts on “Mortgage Loan Calculator”

1. PedroOrith says: