15 Year Fixed Loan Calculator



Calculating mortgage payments for a 15-year fixed loan can be a crucial step in financial planning. To simplify this process, we’ll provide a practical HTML and JS calculator that employs the accurate formula for such calculations.

How to Use

Utilizing our 15 Year Fixed Loan Calculator is straightforward. Enter the loan amount, interest rate, and loan term, then click the “Calculate” button. The result will display the monthly mortgage payment.


The formula used for calculating the monthly mortgage payment for a fixed-rate loan is:


  • is the monthly payment,
  • is the monthly interest rate,
  • is the present value or loan amount,
  • is the total number of payments (loan term in months).


Let’s say you have a loan amount of $200,000 with an interest rate of 3% for 15 years. Plugging these values into the formula, the monthly payment would be calculated as follows:

By evaluating this, you get the monthly mortgage payment.


Q: How accurate is this calculator?

A: The calculator uses the precise formula for fixed-rate loan payments, ensuring accuracy in your monthly payment estimates.

Q: Can this calculator be used for other loan terms?

A: No, this calculator is specifically designed for 15-year fixed loans. Different loan terms require distinct formulas.

Q: Is the interest rate entered as a decimal or percentage?

A: Enter the interest rate as a decimal. For example, 3% should be entered as 0.03.

Q: How often should I recalculate my mortgage payment?

A: It’s advisable to recalculate when there are changes in loan terms or interest rates.


Our 15 Year Fixed Loan Calculator offers a user-friendly solution for estimating monthly mortgage payments accurately. By adhering to the precise formula, users can confidently plan their finances with reliable results.

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