Mortgage Amortization Calculator
Mortgage Amortization Calculator is a financial calculator that helps you see the monthly payment, total interest and how the first year splits between principal and interest. The formula used is: M = P × r × (1+r)^n / ((1+r)^n − 1); each month Interest = Balance × r, Principal = M − Interest. Enter monetary values in your local currency and interest rates as plain numbers (e.g. 5 for 5%).
Formula
M = P × r × (1+r)^n / ((1+r)^n − 1); each month Interest = Balance × r, Principal = M − Interest
- Formula: M = P × r × (1+r)^n / ((1+r)^n − 1); each month Interest = Balance × r, Principal = M − Interest
- Enter monetary values in your local currency and interest rates as plain numbers (e.g. 5 for 5%).
- Assumes a fixed interest rate and equal periodic payments; taxes, insurance and fees are excluded unless stated.
Example Calculation
Enter your values and the calculator applies the formula (M = P × r × (1+r)^n / ((1+r)^n − 1); each month Interest = Balance × r, Principal = M − Interest) and shows the results below. Change any input to update the result instantly.
Frequently asked questions
What is the Mortgage Amortization?
The Mortgage Amortization Calculator helps you see the monthly payment, total interest and how the first year splits between principal and interest. Enter monetary values in your local currency and interest rates as plain numbers (e.g. 5 for 5%).
When should I use this calculator?
Use this calculator whenever you need a quick, accurate result for see the monthly payment, total interest and how the first year splits between principal and interest.
What should I enter?
Enter monetary values in your local currency and interest rates as plain numbers (e.g. 5 for 5%).
How accurate are the results?
Results are estimates based on the stated formula and assumptions. Verify against your own figures or an authoritative source before acting on them.
How can I verify the calculation manually?
Apply the formula (M = P × r × (1+r)^n / ((1+r)^n − 1); each month Interest = Balance × r, Principal = M − Interest) and work through the numbers step by step. If your result differs, re-check units and rounding first.