Mortgage Payment
Estimate your monthly mortgage payment.
About the "Mortgage Payment" Calculator
Dreaming of owning a home? One of the first and most crucial steps is to understand what your future home will cost you each month. Our mortgage payment calculator is here to clarify this essential point.
This tool allows you to accurately simulate the amount of your monthly repayments. By simply entering the amount you wish to borrow, the interest rate (annual or monthly), and the term over which you want to repay, you get a reliable estimate. It's the best way to know if your project is realistic and to confidently prepare your financing application.
Concrete Example:
Let's imagine you want to buy an apartment and need to borrow $200,000. The bank offers you an annual interest rate of 3.5% over a period of 25 years. Using our calculator, you'll find that your monthly payment would be approximately $999.57. This tool not only helps you visualize your future budget but also allows you to play with the numbers: what if you borrowed over 20 years? Or if you got a better rate? Prepare your project with confidence.
Formula Used
- M=Monthly mortgage payment
- P=Principal loan amount
- r=Monthly interest rate
- n=Total number of payments (years x 12)