Mortgage Calculator
Estimate your monthly mortgage payment. Enter the loan amount, annual rate and term to see the instalment, total interest, total repaid and a year-by-year balance table.
Yearly balance (first 5 years)
| Year | Principal paid | Interest paid | Balance |
|---|
How to use the Mortgage Calculator
Enter the loan amount you are borrowing.
Type the annual interest rate offered by the lender.
Set the term in years — 15, 20 and 30 are common.
Read the monthly payment, total interest and the yearly balance table.
Frequently asked questions
How is a mortgage payment calculated?
Payment = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments.
Why is most of my early payment interest?
Interest is charged on the outstanding balance, which is largest at the start. As the balance falls, more of each payment goes to principal — the yearly table shows this shift.
Is my data safe?
Yes. The calculation is performed entirely in your browser and no loan details are uploaded.