🏠Calculate your monthly home loan payment based on loan amount, interest rate, and loan term. Great for home buyers and real estate planning.
🧾 Results
📘 Formula:
Monthly Payment = P × r × (1 + r)n / ((1 + r)n – 1)
Where:
P = Loan amount
r = Monthly interest rate = annual rate / 12 / 100
n = Total number of payments = loan term × 12
🔍 Example:
Loan = $200,000
Annual Interest = 5%
Term = 30 years
Monthly Payment = ~$1,073.64