Reviewed by: David Chen, CFA
David Chen is a Certified Financial Analyst with expertise in mortgage calculations.
David Chen is a Certified Financial Analyst with expertise in mortgage calculations.
Use this mortgage payment calculator to calculate semi-monthly mortgage payments based on your loan parameters.
Mortgage Payment Calculator (Semi-Monthly)
Not calculated yet.
Mortgage Payment Formula
PMT = P[r(1+r)^n] / [(1+r)^n-1]
Formula Source: Investopedia
Variables
- P: Loan Amount
- r: Monthly Interest Rate (Annual Rate / 12)
- n: Total Number of Payments (Loan Term * 12)
Related Calculators
- Mortgage Refinance Calculator
- Home Affordability Calculator
- Loan Amortization Calculator
- Mortgage Payoff Calculator
What is Mortgage Payment?
A mortgage payment consists of principal and interest payments. The amount of your monthly mortgage depends on your loan amount, interest rate, and loan term.
How to Calculate Mortgage Payment (Example)
- Step 1: Input your loan amount, interest rate, and loan term.
- Step 2: Click “Calculate” to see your semi-monthly mortgage payment.
- Step 3: Review your results and calculation steps below.
Frequently Asked Questions (FAQ)
What is a semi-monthly mortgage payment? It means the payments are made twice a month, as opposed to monthly payments.
How do I calculate my mortgage payment? Use the formula provided above or use this calculator for an easy solution.
Can I adjust my mortgage payment? Yes, you can refinance or modify the terms of your mortgage to adjust your payment.