# of Payments - Enter the total number of months on your loan. For example, a 30 year loan would be 360 months where a 15 year mortgage would be 180 months. In other words, multiply the number of years in your loan by 12.

Interest Rate - Enter the interest rate. For example, enter 7.5 for an 7½ interest rate.

Principal - Enter the total amount you wish to borrow.

Monthly Payment - Your monthly principal and interest payment will be calculated for you. Please remember that this is a principal and interest calculation only. You may need to consider property taxes and insurance as part of your monthly payment.

This calculator is for informational purposes only. Accuracy is deemed reliable but not guaranteed. Consult your own advisors when securing a loan.