Mortgage Payment Calculator Complete the form below to calculate your monthly mortgage payment. Mortgage Amount: $ Interest Rate (Assumes a fixed interest rate): Pay period (Years): Monthly Payment: 0 function calculate(){ var mortgageAmount = document.getElementById("mortgageAmount").value; var interestRate = document.getElementById("interestRate").value; var years = document.getElementById("years").value; interestRate /= 100; interestRate /= 12; var n = years * 12; var x = Math.pow(1 + interestRate, -n); var payment = mortgageAmount * ((interestRate * x) / (1-x)); document.getElementById("payment").innerHTML = payment.toFixed(2); } How To Use A Home Mortgage Payment Calculator The online calculators available today can make it easier than ever to calculate your home mortgage payments. This article will give you a better understanding of what a home mortgage payment calculator is and how you can use it to get the best deal on your home loan. A home mortgage payment calculator is a tool designed to help you figure out how much you’ll be paying in monthly mortgage payments for a given home loan. By entering in the specifics of your loan, such as the principal amount, interest rate, and term length, the calculator will show you what the monthly payment will be. The beauty of these calculators is that they’re incredibly easy to use, making it quick and simple to get an accurate understanding of what kind of loan you should be applying for. Before you even start shopping around for a loan, you can use a calculator to quickly determine whether or not your desired mortgage payment is something you can actually afford. To use a home mortgage payment calculator, start by entering in the specifics of the loan you’re considering. Input the loan amount, the interest rate, and the number of years you’ll be paying it back. You can also input any additional costs, like taxes and insurance, if applicable. Once you’ve entered all of the required information, the calculator will display the total estimated monthly payment. It’s important to pay attention to the results you’re getting from the calculator. If the estimated payment is much higher than you expected, you know it’s time to either reconsider the loan or look at other loan options. On the other hand, if the payment is surprisingly low, then you may have found the perfect loan for you. In addition to helping you choose the best loan for your budget, a home mortgage payment calculator can also be used to compare different loan types. If you’re considering an adjustable rate mortgage, you can use the calculator to compare your estimated payment with one from a fixed rate loan. This can give you the information you need to make an informed decision about which loan is best for you. Finally, a home mortgage payment calculator can also be used to determine how much of an impact additional payments will make on your loan. For example, if you wanted to pay off your loan faster, you could input additional payments into the calculator and find out exactly how fast you could pay off the loan. Using a home mortgage payment calculator is an invaluable tool for anyone who is shopping around for a home loan. It’s a quick and easy way to determine how much your loan will cost, what type of loan is best for you, and how much of an impact additional payments will make.