Mortgage Calculator | Monthly Payment and Total Interest
Calculate monthly mortgage payment, total repayment, and total interest from loan amount, interest rate, and term in months or years.
Estimate Monthly Mortgage Payments
Enter loan amount, interest rate, and repayment term to calculate estimated monthly payment, total repayment, and total interest over the loan.
Use the Correct Rate Period
Some markets quote annual rates and others discuss monthly rates. Match the rate mode to your loan offer before comparing results or planning affordability.
What This Mortgage Estimate Does Not Include
The payment estimate may exclude taxes, insurance, lender fees, exchange-rate changes, variable-rate adjustments, and local legal costs. Confirm final terms with your lender.
About This Tool
Mortgage Calculator computes monthly repayment amounts, total interest paid over the loan term, and an amortisation schedule for any combination of loan amount, interest rate, and term. It helps buyers understand the long-term cost of a mortgage before committing.
When to Use It
Use this when comparing mortgage offers with different rates and terms, when calculating how a larger down payment affects monthly costs, or when deciding whether to choose a shorter loan term to reduce total interest paid.
How to Use
- Enter the loan amount (the amount you are borrowing).
- Enter the annual interest rate.
- Enter the loan term in years.
- Click Calculate to see the monthly payment and total interest.
- Adjust the inputs to compare different scenarios.
Frequently Asked Questions
Does the calculation include property tax and insurance?
The basic calculator shows principal and interest only. Add an estimate for tax and insurance to the monthly result to get the full housing cost.
How does a shorter loan term affect the total cost?
A shorter term means higher monthly payments but significantly less total interest paid over the life of the loan.
What is an amortisation schedule?
An amortisation schedule shows each monthly payment broken down into how much goes toward interest and how much reduces the principal balance.