Mortgage Payment Calculator
Work out the monthly repayment on a mortgage, how much of it is interest, and what the loan costs over its full term. Works in any currency.
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This is the standard amortising repayment formula used by lenders everywhere. Give it the amount you are borrowing, the annual interest rate and the term, and it returns the monthly payment and what the loan costs you in total.
It deliberately does not add property tax, insurance or association fees. Those vary by country, state and building, and a calculator that guesses them produces a confident number that is wrong. Add them yourself as a separate monthly figure.
The formula
Monthly payment = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the amount borrowed, r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of monthly payments.
Worked example
Borrow 300,000 over 25 years at 6.5%. The monthly rate is 0.005417 and n is 300. The payment comes to about 2,025 a month, and you repay roughly 607,000 in total — meaning the interest is a little over half of everything you pay.
What this does not include
Property tax, buildings insurance, mortgage insurance where a lender requires it, service or association charges, and any fee to arrange the loan. In most markets those add meaningfully to the monthly figure, so treat the result as the loan cost rather than the cost of owning.
Turn a calculation into an enquiry
Buyers who run these numbers are ready to talk. Give every listing its own page with your photo, phone and WhatsApp on it — leads land straight on your phone.
Create your free property pageFrequently asked questions
Why is my lender’s number slightly different?
Lenders round differently, may charge interest daily rather than monthly, and often fold arrangement fees into the balance. Expect small differences; a large one usually means fees have been added to the loan.
Does paying extra each month help?
Substantially, and most in the early years when almost all of the payment is interest. Even a small regular overpayment can cut years off the term.
Should I choose a longer term for a lower payment?
It lowers the monthly figure and raises the total cost, sometimes enormously. Run both and look at the total interest before deciding.
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