Mortgage Calculator
Calculate your monthly mortgage payment, total interest and full repayment breakdown. Works for any currency — UK, US, Canada, Australia, UAE and worldwide.
Changing currency changes the unit and formatting only; it does not convert the amounts.
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About This Tool
What it does
Calculates monthly mortgage payments, total repayment amount, total interest charged and a full year-by-year amortisation schedule for any loan amount, interest rate and term.
Who it's for
First-time buyers, homeowners remortgaging, property investors and anyone comparing mortgage deals in the UK, US, Canada, Australia, UAE, Singapore and worldwide.
Your privacy
All calculations happen in your browser. No financial figures you enter are transmitted to any server or stored anywhere. Completely private.
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Frequently Asked Questions
What does the monthly mortgage result include?
It estimates principal and interest for a fixed-rate repayment mortgage. It does not include property taxes, insurance, mortgage insurance, service charges, association fees, closing costs or other amounts that may form part of the real monthly housing cost.
How is the amount borrowed calculated?
The amount borrowed equals the property value or purchase price entered minus the deposit. A deposit equal to the property value produces a zero mortgage balance and zero principal-and-interest payment.
What is an amortisation schedule?
The schedule shows the opening balance, payments, interest, principal repaid and closing balance for each year. Early payments normally contain more interest because the outstanding balance is larger.
What happens at a zero interest rate?
At 0%, the mortgage balance is divided equally across all monthly payments. Total interest is zero and total repaid equals the amount borrowed.
Does this model interest-only or variable-rate mortgages?
No. It models a fixed-rate repayment mortgage with equal monthly principal-and-interest payments. Interest-only, adjustable or tracker rates, balloon structures and introductory-rate changes require different calculations.
Does the calculator determine an affordable mortgage?
No. It calculates payments from the figures entered but does not assess income, other debts, living costs, taxes, insurance, credit standards, stress tests or lender eligibility rules.
Should I enter the interest rate or APR?
Use the annual rate that the lender applies to the mortgage balance for the payment calculation. APR can include fees and other costs, so substituting APR for the note rate may not reproduce the lender’s scheduled payment.
Can I use the formula in any country?
The fixed-payment amortisation formula is currency-neutral, but taxes, insurance, fees, compounding conventions, deposit rules and lending regulation vary. The currency selector changes formatting only.
Does this calculator model overpayments?
No. It assumes the scheduled payment is made every month for the full term. Overpayments can reduce interest and shorten the term, but lender rules, limits and charges can alter the result.
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