Use our mortgage calculator to determine your monthly payments for a home loan in Oregon.
Mortgage Calculator for Oregon
How to Use the Mortgage Calculator
Enter the home price, the down payment amount, the loan term in years, and the interest rate into the respective fields in the calculator above. Click the “Calculate” button to see your estimated monthly payment. The result shows your principal and interest payment; it does not include property taxes, insurance, or other costs that might be part of your mortgage payment.
How It Calculates Results
The calculator uses the following formula to determine your monthly mortgage payments:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]- M is your monthly payment.
- P is the principal amount (home price minus down payment).
- i is your monthly interest rate (annual rate divided by 12 months).
- n is your number of payments (loan term in years multiplied by 12 months).
Limitations
This mortgage calculator provides a basic estimation based on the input values. It does not take into account fees such as closing costs, property tax, home insurance, PMI, or any other associated costs. The calculation assumes a fixed interest rate for the entire repayment term. Variable rates, balloon payments, or changes in property tax are not considered. It is important to speak with a mortgage advisor for a detailed financial advice tailored to your situation.