How to Calculate Mortgage Interest?

Answer The interest on a loan is the amount of money you pay to a lender. It’s typically provided as a percentage, such that the interest rate is a given fraction of the loan amount (principle). A mortg... Read More »

Top Q&A For: How to Calculate Mortgage Interest

How do I calculate the interest on a mortgage loan?

Divide the annual interest rate by 12 to find the monthly interest rate on your mortgage. For example, if your mortgage interest rate was 6.36 percent, you would divide 6.36 by 12 to get 0.53 perce... Read More »

How to Calculate Daily Interest on a Mortgage?

Determining the daily interest amount on your mortgage is helpful if you want to estimate a mortgage payoff amount. The daily interest charge, also referred to as "per diem," is calculated from the... Read More »

How do I calculate a mortgage interest tax deduction?

Consult your Form 1098, sent to you by your lender, to determine how much you paid in interest over the year. If your mortgage amount is less than $500,000 ($1 million if you are married filing joi... Read More »

How do I calculate daily interest on a mortgage?

Calculate Daily InterestMultiply the loan amount by the interest rate. Divide that amount by 365. This is the daily interest. For example, $100,000 loan with 6 percent interest has a daily interest... Read More »