📈 Mortgage Rate Calculator
Estimate the interest rate implied by your loan amount, monthly payment, and term, or see how a given rate affects your monthly payment.
What this calculator estimates
If you know your loan amount, monthly principal-and-interest payment, and loan term, you can work backward to estimate the annual interest rate that produces that payment. This is useful for double-checking a quoted rate or comparing loan offers when only the payment amount is known.
How it works
The calculator uses the standard fixed-rate amortization formula and searches for the monthly interest rate that makes the calculated payment match the payment you entered, using a numerical search (bisection method) since the formula cannot be solved directly for rate. It then reports that rate on an annualized basis along with the total amount paid and total interest over the full term.
This estimate assumes a fixed-rate, fully amortizing loan with no extra fees rolled into the payment. Actual quoted rates (APR) may include closing costs and other charges not reflected here. This tool is for general educational and planning purposes only.