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Mortgage Loan Calculator

There are multiple types of mortgages, with the most common being the 15- or 30-year term, fixed rate mortgage. If you’re looking into ARM or variable rate mortgages, your calculations will be different.

Use this easy calculator to figure out your monthly payment for your fixed-rate mortgage.

If a field is inapplicable, enter “0.”

Of course, there are other “hidden” costs of owning a home such as repairs, renovations, pest control, lawn care and general upkeep. Don’t be fooled into under-budgeting your monthly costs! Be sure you have a detailed monthly budget that outlines all your home costs.

If you’d like to calculate this manually, here’s a basic math formula you can follow:


  • P is the principal amount borrowed
  • A is the periodic amortization payment
  • r is the periodic interest rate divided by 100 (nominal annual interest rate also divided by 12 in case of monthly installments), and
  • n is the total number of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360)

If that sounds like a mouthful, we’re with you—use our easy calculator!

If you have questions about your debt situation or are behind on your mortgage payments, give one of our Certified Credit Counselors a call today!