More Mortgage Calculators
Compute the effective interest rate on your mortgage loan when you include points and other closing costs in the equation.
Use this calculator to determine what extra payments you can make now to pay off your mortgage much faster, possibly savings you thousands of dollars.
Use this calculator to find out what mortgage you qualify for based on industry standards.
Find out how much you can save on your mortgage loan when the interest rate is just a fraction lower. Print out a comparison schedule.
Find out if it is worth it to refinance your mortgage and how long it will take you to break even on closing costs.
Find out what your monthly mortgage payment would be if you took out a 10 year, 15 year, 20 year, 25 year or 30 year mortgage. This will help you pick the shortest term possible to pay back your loan, saving thousands of dollars.
Do a cost benefit analysis to determine whether or not it is cheaper for you to rent or purchase a home and print out your individualized report.
You can get a good estimate of a monthly payment by using the expected monthly loan payment on a $1,000 loan as the base. To use the table below: Locate the amount that corresponds to both the interest rate and number of months the loan is to be repaid (use the nearest interest rate). Multiple that amount by the amount of the loan in thousands to get a close estimate of the monthly payment. Example: A $30,000 car loan with a 5% interest rate for 48 months: $23.08 x 30 [30 = $30,000/1000] = a $692.40 monthly payment.
Interest
Rate
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
12
Mths.
$83.33
$83.79
$84.25
$84.71
$85.17
$85.63
$86.09
$86.55
$87.01
$87.47
$87.92
$88.39
$88.85
$89.32
$89.79
$90.26
$90.74
$91.21
$91.68
$92.15
$92.62
$93.09
24
Mths.
$41.67
$42.12
$42.57
$43.02
$43.47
$43.92
$44.37
$44.82
$45.27
$45.72
$46.15
$46.41
$47.08
$47.55
$48.02
$48.49
$48.97
$49.45
$49.93
$50.41
$50.89
$51.37
36
Mths.
$27.78
$28.23
$28.68
$29.13
$29.58
$30.03
$30.48
$30.93
$31.38
$31.83
$32.27
$32.74
$33.22
$33.70
$34.18
$34.67
$35.16
$35.66
$36.16
$36.66
$37.16
$37.66
48
Mths.
$20.83
$21.28
$21.73
$22.18
$22.63
$23.08
$23.54
$24.00
$24.46
$24.92
$25.37
$25.85
$26.34
$26.83
$27.33
$27.84
$28.35
$28.86
$29.38
$29.90
$30.42
$30.92
60
Mths.
$16.67
$17.12
$17.57
$18.03
$19.49
$18.95
$19.41
$19.87
$20.33
$20.79
$21.25
$21.75
$22.25
$22.76
$23.27
$23.79
$24.32
$24.86
$25.40
$25.94
$26.48
$27.02
How to Calculate a Monthly Payment Without a Monthly Payment Calculator