Mortgage Calculator

Enter the price, what you are putting down, the rate and the term. You get the monthly payment, the total interest over the life of the loan, and the full schedule.

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Monthly payment
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Total interest
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Total repaid
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Payment schedule

What it covers, and what it deliberately does not

  • Price and deposit, not just the loan amount. You usually know the price of the property and what you have saved; the amount borrowed is what falls out of those two.
  • The total interest is shown up front. On a long loan it is frequently comparable to the amount borrowed, which is the figure that changes how people think about the term.
  • Any currency. The payment is formatted in euros, dollars, pounds, francs or Canadian dollars — the arithmetic of a loan does not change with the currency.
  • No taxes, insurance or fees. This is the loan repayment only. Property tax, building insurance, mortgage insurance and notary or closing fees vary by country and sometimes by street, and a calculator that guessed at them would mislead more than it helped.
  • No affordability opinion. It tells you what a loan costs. Whether you should take it is not something a web page is in a position to judge.

Reading the result

Compare the total interest across two terms before choosing one. Shortening a 25-year loan to 20 raises the monthly payment by less than most people expect and cuts the total interest by a great deal more — the schedule below shows exactly how much.