This mortgages fintech zoom tool will help you calculate your monthly mortgage payments with ease.
Mortgage Calculator
How to Use the Calculator
To use this mortgage calculator, simply input the total loan amount you are borrowing, the annual interest rate, and the loan term in years. Press the ‘Calculate’ button to see the monthly payment you’ll need to make.
How the Calculation Works
The mortgage calculator uses the following formula to determine your monthly payment:PMT = P * r * (1 + r)^n / ((1 + r)^n - 1)
where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the total number of payments (loan term in years multiplied by 12).
Limitations
Please note that the calculator does not take into account taxes, insurance, or other potential fees. The result gives an estimate of the principal and interest payment only. It assumes a fixed interest rate over the entire term and does not accommodate for variations in the local currencies or inflation.