Notes
- This calculator assumes an amortized loan with fixed monthly payments.
- This calculator is intended for typical mortgage/home loan scenarios.
- Results are estimates only. Actual repayment depends on your lender’s terms and conditions.
Amortized Loan Formula
\( M = P \cdot \frac{r (1 + r)^n}{(1 + r)^n - 1} \)
Where M is the monthly payment, P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.