How do You Calculate a Mortgage?

There are many calculators available for determining what mortgage payments will be based on down payment, principal borrowed, interest rate, and term of the mortgage. If you want to figure it out for yourself, you can use this formula: M=P[i(1+i)n]/[(1+i)n-1], where M is the monthly payment and i-r/12, where r is the interest rate expressed as a decimal. You can find more information here: