Mortgage calculator
Estimate your monthly mortgage payment from the loan amount, interest rate and term, shown in the currency you choose.
Fill in the fields and press Calculate to see your result here.
How this calculation works
Monthly payment is calculated with the standard amortisation formula: M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments (years × 12). This is the same formula lenders use to spread a fixed-rate loan into equal monthly payments. The currency picker only changes the symbol shown — it does not convert your numbers.
Tips
This excludes taxes and insurance
Real mortgage bills often add property tax, homeowners insurance and sometimes HOA fees on top of the principal-and-interest figure shown here.
A longer term lowers the monthly payment but raises total interest
Compare the “Total interest” line across a couple of term lengths to see the trade-off clearly.
Subtract your down payment first
Enter the amount you actually borrow. A larger down payment lowers both the monthly payment and the total interest.
Rates are quoted yearly but paid monthly
The calculator divides the annual rate by 12 to get the monthly rate used in the formula, just as lenders do.
This assumes a fixed rate
With a variable or adjustable rate, your payment can change during the term, so treat the result as a snapshot rather than a guarantee.
Frequently asked questions
Is this exactly what my lender will charge?
No — it's an estimate of principal and interest only. Your actual payment may include taxes, insurance and lender fees, and your real rate depends on your lender and credit profile.
What if the interest rate is 0?
With a 0% rate, the payment is simply the loan amount divided by the number of months, with no interest added.
Should I make my mortgage decision based on this tool?
No. This is general information only, not financial advice — speak with a mortgage professional or financial advisor before committing to a loan.