Calculate mortgage payment for real estate investments and properties
Enter loan amount, interest rate, and number of payments. The calculator uses the standard amortization formula to compute your monthly payment.
A $275,000 loan at 6.25% over 360 months (30 years) results in a monthly payment of $1,693.
M = P[r(1+r)^n]/[(1+r)^n-1] where P=principal, r=monthly interest rate, n=number of payments. This calculator does the math for you.
Interest is always calculated on remaining balance. Early payments have larger balance, so more goes to interest. Not a trick, just math.
Request loan recast by paying lump sum to principal. New payment calculated on lower balance. Small fee, avoids full refinance costs.