35 Year Mortgage Calculator

A 35-year mortgage is a long-term loan option for homebuyers, offering lower monthly payments compared to shorter loan terms. Calculating the monthly payment for such a loan can be cumbersome without the right tools. Hence, we present a convenient 35-year mortgage calculator to help you estimate your monthly payments accurately.

Formula: The formula used to calculate the monthly payment for a mortgage is based on the loan amount, interest rate, and loan term. The formula is derived from the concept of amortization, where each payment consists of both principal and interest components. It can be represented as:



  • M = Monthly Payment
  • P = Loan Amount
  • r = Monthly Interest Rate (annual interest rate divided by 12)
  • n = Total Number of Payments (loan term in years multiplied by 12)

How to Use:

  1. Enter the loan amount in dollars.
  2. Input the annual interest rate in percentage.
  3. Specify the loan term in years.
  4. Click on the “Calculate” button to obtain the monthly payment.

Example: Suppose you want to borrow $200,000 for a home purchase with an interest rate of 4.5% and a loan term of 35 years. Upon entering these values into the calculator and clicking “Calculate,” you’ll find that your monthly payment amounts to approximately $1,013.37.


  1. What is a 35-year mortgage?
    • A 35-year mortgage is a home loan that is repaid over a period of 35 years.
  2. Are 35-year mortgages common?
    • They are less common than 30-year mortgages but can be an option for borrowers seeking lower monthly payments.
  3. What are the advantages of a 35-year mortgage?
    • Lower monthly payments compared to shorter loan terms.
    • Easier qualification for a larger loan amount.
    • Can provide financial flexibility in the short term.
  4. What are the drawbacks of a 35-year mortgage?
    • Higher overall interest costs.
    • Longer time to build equity in the home.
    • Risk of being “underwater” on the loan for a longer period.
  5. Can I pay off a 35-year mortgage early?
    • Yes, many 35-year mortgages allow for early repayment without penalties.
  6. Is it better to get a 30-year or 35-year mortgage?
    • It depends on your financial situation and goals. A 35-year mortgage offers lower monthly payments but higher overall interest costs compared to a 30-year mortgage.
  7. Can I refinance a 35-year mortgage?
    • Yes, refinancing can be an option to lower your interest rate or change your loan term.
  8. How do I qualify for a 35-year mortgage?
    • Similar to other mortgage types, qualification is based on factors such as credit score, income, and debt-to-income ratio.
  9. Are 35-year mortgages available for all types of properties?
    • Yes, they are available for various types of properties, including single-family homes, condos, and townhouses.
  10. Can I use the calculator for other loan terms?
    • While this calculator is specifically designed for 35-year mortgages, it can be adapted for other loan terms by adjusting the input values.

Conclusion: Calculating mortgage payments is an essential step in the home buying process. With the 35-year mortgage calculator provided, you can quickly estimate your monthly payments and make informed decisions about your home financing. Whether you’re a first-time homebuyer or considering refinancing options, this tool can assist you in planning your budget effectively.

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