Know your real mortgage payment before you sign
A mortgage is probably the biggest financial commitment you will ever make, so it pays to understand the numbers before you commit. This calculator estimates your monthly payment, the total interest you will pay over the life of the loan, and gives you the full amortization schedule — month by month, how much goes to interest and how much actually reduces your debt.
Enter the loan amount, the interest rate and the term, and the results update instantly.
What drives your monthly mortgage payment
Three inputs shape your monthly mortgage payment, and you can test each one instantly:
- The loan amount — how much you borrow. A bigger loan means a bigger monthly payment.
- The interest rate — even a small change in the rate moves your payment and the total interest more than most people expect.
- The loan term — a longer term lowers the monthly payment but increases the total interest you pay over the life of the loan.
There's no maths to do: change any input and the monthly payment, total interest and full amortization schedule update on the spot, so you can find the balance that fits your budget.
How amortization works
Early in a mortgage, most of each payment is interest and only a little reduces the principal. As the balance falls, the interest portion shrinks and more of each payment chips away at the debt. The schedule below the calculator shows this crossover clearly, so you can see how slowly the balance drops at the start — and why overpaying early saves disproportionate interest.
Why linked products matter
Banks often advertise a lower interest rate in exchange for bundling home insurance, life insurance or other products. Those products frequently cost more than buying them on the open market, which can quietly erase the savings from the lower rate.
This calculator lets you add linked products and weigh the rate discount against their extra cost, so you can compare offers on a like-for-like basis. A headline rate is only as good as its real, all-in cost.
Tips to pay less interest
- Shorten the term if you can afford it. A shorter term means higher monthly payments but dramatically less total interest.
- Make early overpayments. Because interest is front-loaded, extra payments in the first years remove the most expensive debt.
- Compare the real cost, not the headline rate. Use the linked-products feature to see what an offer truly costs.
- Re-run the numbers when rates change. A small move in the rate can shift your payment and total interest more than you'd expect.
How to use this calculator
- Loan amount — how much you are borrowing.
- Interest rate — your annual nominal rate.
- Loan term — the duration, in years or months.
- Linked products — add any insurance or products bundled with the mortgage to see the real cost.
Planning the purchase itself, not just the loan? The home purchase calculator adds taxes, notary, registry and the down payment to show the total cash you need up front.