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Mortgage Calculator

Inputs

Loan amount(USD)

Annual interest rate(%)

Loan term(years)

Extra monthly payment(USD)

Optional. Additional amount paid each month reduces total interest.

Monthly payment

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Your scheduled principal + interest payment

Total amount paid

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Total interest paid

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Months to payoff

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Years saved with extra payments

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Formula

M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]