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  Most loans (mortgage and other) in the United States compound interest monthly.
 Mortgage loans in Canada compound interest semiannually.
I've seen several loan calculators that include other fees (taxes, insurance, PMI, HOA, etc...) in the calculation. I have intentionally left them out because they are subject to change often. Therefore, you'll need to adjust your payment accordingly. 
FYI  30 years = 360 months
 25 years = 300 months
 20 years = 240 months
 15 years = 180 months
 10 years = 120 months
 5 years = 60 months
 3 years = 36 months



EXAMPLES:  If you want to calculate how much a mortgage payment will be on a $200,000 mortgage at 5.00% interest for 360 months, you would enter:
 200,000 for the Loan Amount
 360 for Months
 5 for Interest Rate (Compounded Monthly)
 Press the Payment button, and you'll see that your payment would be $1,073.64.
Note: If you look down the amortization schedule, you'll see the final payment is $1,076.47. Some lenders don't like the final payment to be greater than the regular payment so they'll add a penny to the regular payment. You can do that on this calculator simply by adding a penny to the payment and solving for "Months". The # of months won't change much, if at all. Now you can view the schedule again to see the difference it makes. In this case, you'll make 359 full payments of $1,073.65 and a final payment of $1,068.30.
 Using the example above, let's say you can make a higher monthly payment. You would like to round your payment up to $1,200/month. How long will it take to pay off your mortgage?
 Leave everything the same, just enter 1200 for Payment and press Months.
 It will take only 286 months to pay off your mortgage! (285 full payments of $1,200 and a final partial payment of $170.76.
 So, paying that extra $126.36/month will save you a little more than 6 years of payments, and about $44,342 interest!
 Suppose you want to buy a car, but you don't want to spend more than $250/month for payments. You can get a 4 year car loan at 3.9%. How much of a car can you buy? You would enter:
 48 for Months
 3.9 for Interest Rate (compounded Monthly)
 250 for Monthly Payment
 Press the Principal button, and you will see that you could buy a $11,094.18 car with no down payment or put more money down on a more expensive car.

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