Monthly Mortgage Payment Calculator

✖Mortgage Amount is a regularly scheduled payment which includes principal and interest paid by the borrower to the lender of the home loan.ⓘ Mortgage Amount [MA]			+10% -10%
✖Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.ⓘ Interest Rate [R]			+10% -10%
✖Compounding Periods is the number of times compounding will occur during a period.ⓘ Compounding Periods [n]			+10% -10%

✖The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.ⓘ Monthly Mortgage Payment [p]

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Formula

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Monthly Mortgage Payment

Formula

`"p" = ("MA"*"R"*(1+"R")^"n")/((1+"R")^"n"-1)`

Example

`"156000"=("26000"*"6"*(1+"6")^"10")/((1+"6")^"10"-1)`

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Monthly Mortgage Payment Solution

STEP 0: Pre-Calculation Summary

Formula Used

Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)
p = (MA*R*(1+R)^n)/((1+R)^n-1)
This formula uses 4 Variables

Variables Used

Monthly Payment - The Monthly Payment is the amount a borrower is required to pay each month until a debt is paid off.
Mortgage Amount - Mortgage Amount is a regularly scheduled payment which includes principal and interest paid by the borrower to the lender of the home loan.
Interest Rate - Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets.
Compounding Periods - Compounding Periods is the number of times compounding will occur during a period.

STEP 1: Convert Input(s) to Base Unit

Mortgage Amount: 26000 --> No Conversion Required
Interest Rate: 6 --> No Conversion Required
Compounding Periods: 10 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

p = (MA*R*(1+R)^n)/((1+R)^n-1) --> (26000*6*(1+6)^10)/((1+6)^10-1)

Evaluating ... ...

p = 156000.000552261

STEP 3: Convert Result to Output's Unit

156000.000552261 --> No Conversion Required

FINAL ANSWER

156000.000552261 ≈ 156000 <-- Monthly Payment

(Calculation completed in 00.004 seconds)

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Created by Team Softusvista

Softusvista Office (Pune), India

Team Softusvista has created this Calculator and 600+ more calculators!

Verified by Himanshi Sharma

Bhilai Institute of Technology (BIT), Raipur

Himanshi Sharma has verified this Calculator and 800+ more calculators!

< 24 Mortgage and Real Estate Calculators

Monthly Mortgage Payment

Go Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)

Long Term Capital Gain

Go Long Term Capital Gain = Final Sale Price-Indexed Cost of Acquisition-Indexed Cost of Improvement-Cost of Transfer

Short Term Capital Gain

Go Short Term Capital Gain = Final Sale Price-Cost of Acquisition-Home Improvement Cost-Cost of Transfer

Effective Gross Income

Go Effective Gross Income = Potential Gross Rental Income+Other Income-Allowances for Vacancies and Bad Debts

Net Rental Yield

Go Net Rental Yield = ((Annual Rental Income-Annual Expenses)*(1/Property Value))*100

Cost Approach Appraisal

Go Property Value = Reproduction Cost-Depreciation+Value of Land

Gross Potential Rent

Go Gross Potential Rent = Number of Units Available for Rent*Annualised Market Rent

Qualifying Ratio

Go Debt to Income Ratio = (Total Monthly Debt Payments/Gross Monthly Income)*100

Vacancy Rate

Go Vacancy Rate = (Vacant Units in the Building*100)/Total Units in the Building

70 Percent Rule

Go Maximum Buying Price = (After Repair Value*0.7)-Estimated Repair Costs

Gross Income Multiplier

Go Gross Income Multiplier = Property Sale Price/Effective Gross Income

Gross Rent Multiplier

Go Gross Rent Multiplier = Property Value/Potential Gross Rental Income

Gross Rental Income

Go Potential Gross Rental Income = Property Value/Gross Rent Multiplier

Loan to Value Ratio

Go Loan to Value Ratio = (Mortgage Amount/Appraised Property Value)*100

Price per Square Foot

Go Price per Square Foot = Property Sale Price/Total Square Footage

Gross Rental Yield

Go Gross Rental Yield = (Annual Rental Income/Property Value)*100

Price to Rent Ratio

Go Price to Rent Ratio = Median Home Price/Median Annual Rent

Down-Payment Amount

Go Down Payment Amount = Final Sale Price*Percentage Payment

Rental Yield

Go Rental Yield = (Annual Rental Income/Property Value)*100

Land to Building Ratio

Go Land to Building Ratio = Area of Land/Area of Building

Commission Value

Go Commission Value = Commission Rate*Final Sale Price

Floor Area Ratio

Go Floor Area Ratio = Gross Floor Area/Total Lot Size

Debt Ratio

Go Debt Ratio = Total Debt/Total Assets

Annual Rental Income

Go Annual Rental Income = Monthly Rental Income*12

Monthly Mortgage Payment Formula

Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1)
p = (MA*R*(1+R)^n)/((1+R)^n-1)

How to Calculate Monthly Mortgage Payment?

Monthly Mortgage Payment calculator uses Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1) to calculate the Monthly Payment, A Monthly Mortgage Payment is an amount a borrower is required to pay each month until a debt is paid off. Monthly Payment is denoted by p symbol.

How to calculate Monthly Mortgage Payment using this online calculator? To use this online calculator for Monthly Mortgage Payment, enter Mortgage Amount (MA), Interest Rate (R) & Compounding Periods (n) and hit the calculate button. Here is how the Monthly Mortgage Payment calculation can be explained with given input values -> 156000 = (26000*6*(1+6)^10)/((1+6)^10-1).

FAQ

What is Monthly Mortgage Payment?

A Monthly Mortgage Payment is an amount a borrower is required to pay each month until a debt is paid off and is represented as p = (MA*R*(1+R)^n)/((1+R)^n-1) or Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1). Mortgage Amount is a regularly scheduled payment which includes principal and interest paid by the borrower to the lender of the home loan, Interest Rate is the amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of assets & Compounding Periods is the number of times compounding will occur during a period.

How to calculate Monthly Mortgage Payment?

A Monthly Mortgage Payment is an amount a borrower is required to pay each month until a debt is paid off is calculated using Monthly Payment = (Mortgage Amount*Interest Rate*(1+Interest Rate)^Compounding Periods)/((1+Interest Rate)^Compounding Periods-1). To calculate Monthly Mortgage Payment, you need Mortgage Amount (MA), Interest Rate (R) & Compounding Periods (n). With our tool, you need to enter the respective value for Mortgage Amount, Interest Rate & Compounding Periods and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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