Simple Mortgage Calculator
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Simple Mortgage Calculator — free online calculator.
Formula
M = P × r(1+r)^n ÷ ((1+r)^n − 1)
- Simple mortgage calculator. This page explains the standard mathematical relationship used for the estimate and includes a worked example; it is educational, not individualized financial advice.
- The main inputs are Home price, Down payment, Annual interest rate, Loan term. Enter them in the units and format shown in the calculator.
- Use monetary amounts, rates and time periods exactly as labeled; the result reflects the assumptions entered on this page.
- Changing any input above recalculates the result with the same calculation engine used by this page.
Example: Simple Mortgage
Inputs
- Home price: 300000
- Down payment: 60000
- Annual interest rate: 6 %
- Loan term: 30 years
For P=180,000, monthly r=0.5%, n=360, principal-and-interest payment ≈ 1,079.19.
Sample result: Calculating…
Frequently asked questions
What does the Simple Mortgage calculate?
This is a fixed-rate amortization estimate and excludes non-loan housing costs.
Which values should I enter?
Enter Home price, Down payment, Annual interest rate, Loan term using the units and format shown beside each field.
What formula does this calculator use?
The calculator uses the following relationship: M = P × r(1+r)^n ÷ ((1+r)^n − 1).
Why might my result differ from another source?
Results can differ when another source uses different units, rounding rules, conventions or assumptions. Compare the inputs and definitions before comparing results.
Does the result update automatically?
Yes. Changing an input updates the result using the same calculation engine shown on this page.