Simple Mortgage Rate Calculator

Managing your finances when considering a mortgage is crucial. Our Simple Mortgage Rate Calculator helps you estimate your monthly mortgage payment, allowing you to plan your budget effectively.

Formula: To calculate the monthly mortgage payment, our calculator uses the standard formula for a fixed-rate mortgage:



  • M is the monthly mortgage payment,
  • P is the loan amount,
  • r is the monthly interest rate (annual rate divided by 12), and
  • n is the total number of payments (loan term in years multiplied by 12).

How to Use:

  1. Enter the loan amount in the “Loan Amount” field.
  2. Input the annual interest rate in the “Interest Rate (%)” field.
  3. Specify the loan term in years using the “Loan Term” field.
  4. Click the “Calculate” button to get your estimated monthly mortgage payment.

Example: Suppose you want to take a loan of $200,000 with an interest rate of 3.5% for 30 years. After entering these values and clicking “Calculate,” you will find the estimated monthly payment.


  1. Q: What is a mortgage calculator? A: A mortgage calculator is a tool that helps you estimate your monthly mortgage payment based on factors like loan amount, interest rate, and loan term.
  2. Q: How accurate is the mortgage calculator? A: The calculator provides a close estimate, but actual payments may vary due to factors like taxes and insurance.

Conclusion: Our Simple Mortgage Rate Calculator is a handy tool for anyone planning to take a mortgage. It provides a quick and reliable estimate of your monthly payments, aiding in financial planning and decision-making.

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