To calculate your monthly mortgage payment, simply enter in the designated fields below the amount you wish to finance, the term over which you would wish to finance, and the interest rate. The default interest rate is 7.25%. Please feel free to change that number. In the "Term of Loan" field, please be sure to enter a term in years, not in months. Your monthly payment will be displayed in the bottom field, so please do not enter any information in this field. Please note: dollar signs ($) and commas are not necessary.