Mortgage calculator
Enter the property price, down payment share, rate and term to see the fixed monthly payment and how much you pay on top of the amount borrowed.
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Processing and privacy: The result is calculated inside your browser and your data is not sent to any server.
How to use it
- Enter home price, down payment, annual interest or profit rate and loan term.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Loan = price x (1 - down payment share). Payment = L x r / (1 - (1 + r)^-n), where L is the loan, r the annual rate / 12, n the number of months.
Example
Inputs: Home price = 250,000, Down payment = 20 %, Annual interest or profit rate = 6 %, Loan term = 30 years. Result: Monthly payment: 1,199.10; Loan amount: 200,000.00; Total of payments: 431,676.38.
Limits and caveats
- Assumes a fixed rate for the whole term and excludes insurance, admin fees and property tax.
- Lenders may round the payment or apply the rate slightly differently, so check the bank quote.
Questions about this tool
Does it work for Islamic home finance?
Yes, if the profit rate is fixed and spread over equal instalments. Enter the annual profit rate in place of the interest rate.
Why is total interest so high on long terms?
The balance falls slowly in the early years, so interest is charged on a large amount for longer.
Can I enter the loan amount directly?
Set the down payment to 0% and type the loan amount as the price.