Most people know their mortgage payment before they know how it is calculated. The lender gives you a number, you check if it fits your budget, and you sign. But understanding exactly how that number is built can save you tens of thousands of dollars over the life of a loan.<\/p>\n
Menurut Suku bunga bank<\/a>, the average 30-year fixed mortgage rate in the US sits at 6.8% in 2026. On a $350,000 loan, that produces a monthly P+I payment of approximately $2,281. Understanding what drives that number gives you real negotiating power.<\/p>\n This guide breaks down every component of a mortgage payment, shows you the exact formula lenders use, and walks through three real examples so you can calculate your own payment with confidence.<\/p>\n A monthly mortgage payment has four components: principal (the loan balance you repay), interest (the lender’s fee for lending), property taxes (collected in escrow), and homeowners insurance (also escrowed). Together these are called PITI. Interest dominates early payments while later payments are mostly principal. Most online calculators only show P+I your actual payment will be 15% to 25% higher once taxes and insurance are included.<\/p>\n Always calculate PITI, not just P+I, when budgeting for a home purchase.<\/p>\n The standard monthly mortgage payment formula is: M = P[r(1+r)^n] \/ [(1+r)^n – 1]. Where M is the monthly payment, P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of payments (years multiplied by 12). A $300,000 loan at 6.8% for 30 years produces a monthly P+I payment of $1,955.39.<\/p>\nWhat Makes Up a Monthly Mortgage Payment?<\/h2>\n
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The Mortgage Payment Formula Explained<\/h2>\n