Mortgage Calculator
Estimate the monthly payment, total paid and total interest on a home loan.
| Year | Interest paid | Principal paid | Balance |
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Runs in your browser. Your data is not uploaded.
Estimates only. Not financial, legal or tax advice.
How to use
- Enter the home price and the down payment percentage.
- Add the annual interest rate and the loan term in years.
- Read the monthly payment and the yearly interest table.
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Frequently asked questions
How do I calculate a mortgage payment?
Enter the home price, the down payment percentage, the annual interest rate and the term in years. The page divides the rate by 12, converts the term to months and applies the standard amortising formula. With 100000, no down payment, 8% and 30 years, the monthly payment is 733.76.
How is the loan amount worked out from the down payment?
The loan is the home price multiplied by 1 minus the down payment percentage. A 200000 home with 20% down therefore borrows 160000, and the monthly payment is calculated on that smaller amount.
What is the difference between total paid and total interest?
Total paid is the monthly payment multiplied by the number of months. Total interest is that total minus the loan amount. On 100000 at 8% for 30 years the total paid is 264155.25 and the interest is 164155.25.
How does the calculator handle a 0% interest rate?
The monthly payment becomes the loan amount divided by the number of months, so no interest is added. Total interest shows 0.00 and total paid equals the loan amount, which matches an interest-free instalment plan.
How do I read the yearly mortgage table?
Each row covers one year of the term and shows the interest paid, the principal repaid and the remaining balance at the end of that year. The first year is mostly interest, and the balance falls as the principal portion grows.
How long can the loan term be?
The term field accepts 1 to 40 whole years, and the page rounds a decimal entry to the nearest year. The table never exceeds 40 rows because each row is one year, so a 40-year term fills it completely.
What happens if I clear the home price?
Every result turns into a dash, including the loan amount, and the yearly table is emptied. A price of 0, a down payment of 100% or a term of 0 behaves the same way, because no amount is left to repay.
What is not included in the total interest figure?
Only the loan amount and the interest rate are used. Arrangement fees, insurance, taxes, valuation charges and early repayment penalties are missing, so the real cost from a lender will be higher than this estimate.
Can I see a month-by-month repayment schedule?
No. The table groups the figures by year rather than by month, and it does not show a date for each payment. For a full monthly amortisation schedule you need a spreadsheet or the lender statement.
Is my home price uploaded to a server?
No. The calculation runs in the page and nothing is sent or saved. Reloading restores the defaults of 100000, 0% down, 8% and 30 years, so your own figures are not kept anywhere.