Mortgage Calculator

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[sc_fs_faq sc_id=”fs_faqmsmdpj0bx” html=”false” headline=”p” img=”” question=”How do you calculate mortgage payments? ” img_alt=”” css_class=”” ]Equation for mortgage payments M = the total monthly mortgage payment. P = the principal loan amount. r = your monthly interest rate. Lenders provide you an annual rate so you’ll need to divide that figure by 12 (the number of months in a year) to get the monthly rate. … n = number of payments over the loan’s lifetime. [/sc_fs_faq]