The Mortgage Calculator gives you your monthly payment, total interest paid and a full amortisation schedule for any home loan. Enter the loan amount, interest rate and term to see exactly what you'll pay over the life of the mortgage.
Frequently Asked Questions
How is a mortgage payment calculated?
Using the standard amortisation formula based on your loan amount, annual interest rate and loan term. Each payment covers interest first, then reduces the principal.
What is a good mortgage interest rate?
This varies by country and market conditions. In the US, historical averages range from 3–7%. Always compare multiple lenders.
What is amortisation?
The process of paying off a loan through regular payments over time. Early payments are mostly interest; later payments are mostly principal.
How much mortgage can I afford?
A common guideline is that your monthly payment should not exceed 28% of your gross monthly income.