mortgage calculator canada

simple Mortgage Calculator

Features:

✅ Loan amount, interest rate, and amortization period input
✅ Monthly payment calculation

Mortgage Calculator (Canada) - Description

This Mortgage Calculator is a simple yet powerful tool designed for Canadian homebuyers to estimate their monthly mortgage payments based on the loan amount, interest rate, and amortization period.

Key Features:

✅ User-Friendly Interface – Simple form layout with input fields for loan amount, interest rate, and loan period.
✅ Instant Calculation – Quickly calculates the monthly mortgage payment using the standard mortgage formula.
✅ Responsive Design – Works on desktop, tablet, and mobile devices for seamless access.
✅ Easy Integration – Can be embedded in WordPress using a Custom HTML block, making it ideal for real estate websites or financial blogs.

How It Works:

1. Enter the Loan Amount ($) – The total amount borrowed for the home purchase.
2. Enter the Interest Rate (%) – The annual interest rate provided by the lender.
3. Enter the Amortization Period (Years) – The total number of years for loan repayment.
4. Click "Calculate" – The tool will compute and display the monthly mortgage payment.

Formula Used:

The calculator uses the standard mortgage payment formula:

[
M = \frac{P \times r}{1 - (1 + r)^{-n}}
]

Where:

• M = Monthly payment
• P = Loan amount
• r = Monthly interest rate (Annual rate ÷ 12)
• n = Total number of payments (Years × 12)

This mortgage calculator helps homebuyers and real estate investors make informed financial decisions by estimating their monthly payments before committing to a loan. 💰🏡