Mortgage Payment

Mortgage Payment Calculator

This calculator estimates the monthly payment for a mortgage loan.

Use Cases

• Real Estate: Home buying budgets.
• Refinancing: Comparing new loan offers.
• Investing: Analyzing rental property cash flow.

Formula

$$M = P \frac{r(1+r)^n}{(1+r)^n - 1}$$

Where:

• $M$ is the monthly payment
• $P$ is the principal loan amount
• $r$ is the monthly interest rate (annual rate / 12)
• $n$ is the number of months