Comprehensive Calculator Guide
📋Overview
The Mortgage Calculator helps you estimate monthly payments and total interest for real estate financing, helping you make informed housing decisions.
🎯How to Use
- Enter property value
- Enter down payment
- Set interest rate and loan term
- Get monthly payment and total cost
🔢Formula Used
Payment = P[r(1+r)^n]/[(1+r)^n-1] where P=amount, r=monthly rate, n=months💡Practical Examples
Example: 800,000 SAR Mortgage
Down payment 200,000, 5% interest, 25 years = ~3,515 SAR/month
❓Frequently Asked Questions
Q:Fixed vs variable rate?
A: Fixed: same rate throughout. Variable: changes based on market interest rates.