Estimates monthly mortgage payments and total repayment amount.
The mortgage calculator determines your monthly payment, total interest paid, and total cost of a home loan, factoring in the down payment.
Loan = Home price − Down payment Monthly payment M = Loan × [r(1+r)^n] / [(1+r)^n − 1] Total interest = M × n − Loan
Home $350,000, down payment $70,000 (20%), rate 6.5%, 30 years. Loan = $280,000, n = 360, r = 0.065/12 ≈ 0.005417. M ≈ $1,770. Total interest ≈ $357,200.
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