Loan Calculator With Closing Costs


Calculating your monthly mortgage payment can be a complex task, especially when you have additional expenses like closing costs to consider. This Loan Calculator with Closing Costs simplifies the process, allowing you to estimate your monthly payment accurately.


To calculate the monthly mortgage payment, we use the following formula:

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M = P[r(1+r)^n] / [(1+r)^n-1] + (C/n)


  • M = Monthly Payment
  • P = Loan Amount
  • r = Monthly Interest Rate
  • n = Loan Term in months
  • C = Closing Costs

How to Use:

Using this Loan Calculator is straightforward. Follow these steps:

  1. Enter the Loan Amount you’re considering.
  2. Input the Interest Rate as a percentage.
  3. Specify the Loan Term in years.
  4. Enter the Closing Costs associated with the loan.
  5. Click the “Calculate” button to get your estimated Monthly Payment.


Let’s say you’re taking out a $200,000 loan with a 4.5% annual interest rate for 30 years, and your closing costs are $5,000. After entering these values and clicking “Calculate,” you would get an estimated Monthly Payment.


  1. What is a Loan Calculator with Closing Costs? A Loan Calculator with Closing Costs helps you determine your monthly mortgage payment, considering additional expenses like closing costs.
  2. How do I calculate monthly mortgage payments with closing costs? Enter your Loan Amount, Interest Rate, Loan Term, and Closing Costs into the calculator and click “Calculate.”
  3. Why do I need to consider closing costs in my mortgage calculation? Closing costs are essential because they impact the total cost of your loan. Including them in your calculation gives you a more accurate picture of your expenses.
  4. What happens if I don’t consider closing costs in my mortgage calculation? Neglecting closing costs could lead to underestimating your overall expenses and affect your budgeting.
  5. Can I estimate closing costs myself, or should I consult with a professional? It’s advisable to consult with a mortgage professional for an accurate estimate of closing costs.
  6. Are there different types of closing costs? Yes, closing costs can vary but typically include fees for appraisal, title insurance, and loan origination.
  7. Is this calculator suitable for all types of loans? This calculator is primarily designed for mortgage loans but can be used for other loans with adjustments.
  8. How often should I recalculate my mortgage payment? It’s a good idea to recalculate your mortgage payment whenever there are significant changes in your loan terms or financial situation.
  9. Can I use this calculator for refinancing calculations? Yes, you can use this calculator for both new mortgages and refinancing scenarios.
  10. Is the result from this calculator accurate for all lenders? The result is an estimate and may vary depending on the specific terms and fees offered by different lenders.


Estimating your monthly mortgage payment, including closing costs, is crucial for effective financial planning. This Loan Calculator with Closing Costs simplifies the process, providing you with a reliable estimate to help you make informed decisions regarding your home purchase or refinance.

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