Mortgage Calculator

Welcome to the Mortgage Calculator.

About the Mortgage Calculator

The Mortgage Calculator is a tool that helps you determine your monthly mortgage payments, total payment, and total interest based on the mortgage amount, annual interest rate, and mortgage term.

How It Works

To use the Mortgage Calculator, simply enter the mortgage amount, annual interest rate, and mortgage term in the provided fields. Click the "Calculate Mortgage" button to see your monthly payment, total payment, and total interest.

Additional Context

Mortgages are a common way to finance the purchase of a home. Understanding the terms of your mortgage and how much you will pay over time can help you make informed financial decisions.

This tool is useful for various purposes, such as planning your budget, understanding the cost of borrowing, or simply satisfying your curiosity about how mortgages work.

Origin of the Word "Mortgage"

The word "mortgage" comes from the Old French term "mort gage," which means "dead pledge." It refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.