Use the calculator below to estimate your monthly mortgage payment. Enter the home price, your down payment, the interest rate, and the amortization period, and the calculator will estimate your payment, show an amortization schedule, and chart how much goes to principal and interest.
How the payment is calculated
A mortgage payment is calculated with the standard payment formula: the loan amount, the interest rate, and the number of payments determine the regular payment. The payment covers both interest and principal, so early payments are mostly interest and later payments are mostly principal. Your exact payment also depends on your rate, term, amortization, and whether mortgage default insurance applies.
These are estimates only. For an exact payment based on today’s rates and your situation, call 647-895-1016 or apply online — we will run the numbers with you.