Mortgage Calculator  
  Free Mortgage Calculator

 Mortgage Calculator

Loan Amount  $  
Interest Rate    %
Loan Term    Years
Monthly Principal & Interest  $  
Annual Principal & Interest  $  
Total Principal Paid $  
Total Interest Paid $  
Total Payment  $  
Free Home Mortgage Calculator  
  Home Mortgage Calculator


This free mortgage calculator can help you calculate monthly and annual principal and interest payment of a fixed-rate mortgage loan, given loan amount, annual interest rate, and the length of loan in years. is Binomo a scam


Mortgage payment calculator is used in financial analysis of real estate transactions. The vast majority of real estate transactions use mortgage financing, that is, to borrow fund from a financial institution and use the property as collateral. The calculation of monthly mortgage repayment is one important step in real estate financial analysis. This mortgage calculator is designed to make your mortgage payment calculation quicker and easier. It is available 24x7 on the internet.


15-year and 30-year fixed-rate mortgage loans are two popular home mortgage financing options on the market. 15-year mortgage loan requires higher monthly payment and allows the borrower to pay off the loan in shorter period of time. 30-year mortgage loan, on the other hand, has lower monthly payment. It takes the borrower much longer time to pay off the loan. Over the life of the loan, the total interest paid on a 15-year loan is much lower than the interest paid on a 30-year loan of the same size.

Listed below is a comparison of 15-year vs 30-year fixed-rate mortgage loan,

15-year Loan 30-year Loan Difference
Loan Amount $200,000 $200,000  
Interest Rate 5.25% 6%  
Monthly Payment $1,607.76 $1,199.10 $408.66
Total Interest $89,395.98 $231,676.38 $142,280.40
Total  Payment $289,395.98 $431,676.38 $142,280.40
Payoff Time 15 years 30 years 15 years


The monthly payment of $1,607.76 on a $200,000, 5.25%, 15-year loan is $408.66 higher than the monthly payment ($1,199.10) on a $200,000, 6%, 30-year loan. The total interest paid on a $200,000, 5.25%, 15-year loan is $89,395.98, or $142,280.40 less than the interest ($231,676.38) paid on a 30-year loan at 6%. The savings on interest payment is substantial under the 15-year loan. Using this home mortgage calculator, you can fill in different numbers and see different payment scenarios.

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