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Mortgage Calculator

Estimate your monthly mortgage payment, total interest, financing ratio, and full amortization schedule. Enter price, down payment, rate, and term. Educational estimate, runs in your browser.

Calculated automatically as property price minus down payment. You can also enter it manually.
Repayment method
Mortgage amount
1,400,000
Financing ratio (LTV)
70%
Monthly payment
8,184
Average monthly payment
8,184
Total paid
2,455,278
Total interest
1,055,278
MonthPaymentPrincipalInterestBalance
18,1842,3515,8331,397,649
28,1842,3615,8241,395,288
38,1842,3715,8141,392,918
48,1842,3805,8041,390,537
58,1842,3905,7941,388,147
68,1842,4005,7841,385,747
78,1842,4105,7741,383,336
88,1842,4205,7641,380,916
98,1842,4305,7541,378,486
108,1842,4415,7441,376,045
118,1842,4515,7341,373,594
128,1842,4615,7231,371,133

Educational estimate only, not mortgage, financial, banking, or tax advice, and not an offer of a loan. The calculator does not check eligibility. Actual mortgage terms depend on the lender, credit score, financing ratio, income, fees, insurance, indexation, the chosen tracks, and early-repayment penalties. A real mortgage often combines several tracks. Before any financial decision, check with a lender or a mortgage advisor.

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This mortgage calculator estimates your monthly payment, the total interest over the life of the loan, the financing ratio, and a full amortization schedule, so you can see roughly what a mortgage will cost before you talk to a lender. Enter the property price and the down payment, and the calculator works out the mortgage amount and the financing ratio (loan-to-value); you can also type a mortgage amount directly. Choose an interest rate, a term in years, and a repayment method (equal-payment annuity or equal-principal), and you get the monthly payment, the total interest, and a month-by-month schedule. If you enter a net monthly income, it also shows the payment-to-income ratio. This is a simplified single-rate version, not a multi-track mix, and an educational estimate only. It covers principal and interest only and does not include taxes, insurance, or fees. Everything runs in your browser; nothing you enter is uploaded. Last updated: May 2026.

01

How to use this tool

  1. 01Enter price, down payment, and rateThe mortgage amount is calculated automatically as the property price minus the down payment, and you can also type an amount directly. Then enter the annual interest rate.
  2. 02Choose a term and a repayment methodEnter the term in years and pick equal payment (annuity, a level monthly payment) or equal principal (a payment that starts higher and declines over time).
  3. 03Read the payment, interest, and financing ratioYou get the monthly payment, the total interest, the financing ratio, and a full amortization schedule. If you enter a net income, the payment-to-income ratio is shown as well.
02

When is this useful?

  • Estimating a monthly paymentSee in advance what the monthly payment is likely to be for a given price, down payment, rate, and term, before committing to a property.
  • Checking affordabilityEnter a net monthly income and any existing obligations to see the payment-to-income ratio. This is an estimate to help you think, not an eligibility decision.
  • Comparing down paymentsTry a larger and a smaller down payment side by side to see how the mortgage amount, the financing ratio, and the total interest change.
  • Comparing terms and methodsCompare a 20-year and a 30-year term, or equal-payment versus equal-principal, to understand the trade-off between a lower monthly payment and higher total interest.
03

Examples

  • Price 500,000, down payment 100,000, 5%, 30 years, equal paymentA mortgage of 400,000 at an 80% financing ratio. The annuity method gives a level monthly payment of about 2,147 across the whole term, with total interest of roughly 373,000.
  • Price 400,000, down payment 120,000, 4.8%, 20 years, equal principalA mortgage of 280,000 at a 70% financing ratio. The payment starts higher (principal plus more interest) and declines each month as the balance falls.
  • Mortgage 250,000, rate 0%, 10 yearsAt a 0% rate the total paid equals the mortgage amount, and the monthly payment is simply the amount divided by the number of months, here about 2,083.
04

Tips for a better result

  • A longer term costs moreA longer term can lower the monthly payment, but it usually increases the total interest substantially. Compare the total cost, not just the monthly figure.
  • A larger down payment helpsA larger down payment reduces the mortgage amount, the financing ratio, and the total interest, and can improve the rate a lender offers.
  • Do not look only at the monthly paymentCompare offers by total interest and overall cost over the full term, not by the monthly payment alone, which can hide a more expensive loan.
  • A real mortgage is more complexAn actual mortgage can combine several tracks with different rates and indexation. This is a simplified single-rate estimate.

  • Key terms

    The monthly mortgage payment is the amount you pay each month, covering principal and interest. The total interest is all the interest you pay over the life of the loan. The financing ratio, also called the loan-to-value or LTV, is the mortgage amount divided by the property price, expressed as a percentage, and lenders typically cap it. The payment-to-income ratio is the monthly payment (plus any obligations) divided by net monthly income, and lenders use it as one of several criteria. With the equal-payment (annuity) method the payment is level; with equal principal it decreases over time.

  • How the monthly payment is computed

    With the equal-payment (annuity) method, the payment is solved so that every monthly payment is identical: payment = P · r / (1 − (1 + r)^(−n)), where P is the mortgage amount, r is the monthly rate (annual rate / 12 / 100), and n is the number of months. With equal principal, the principal slice (P / n) is fixed and the interest is charged on the remaining balance, so the payment declines. At a 0% rate the payment is simply the amount divided by the number of months. The calculation uses standard loan formulas and the values you enter, with no connection to lenders and no eligibility check.

  • How down payment and term affect the result

    A larger down payment lowers the mortgage amount and the financing ratio, which lowers both the monthly payment and the total interest. A longer term spreads the principal over more months, lowering the monthly payment but raising the total interest, because interest accrues for longer. A higher rate raises both the monthly payment and the total interest. Trying a few combinations side by side is the quickest way to see these trade-offs.

  • Loan-to-value (LTV) explained

    Loan-to-value (LTV), shown here as the financing ratio, is the mortgage amount divided by the property price, expressed as a percentage. A 400,000 mortgage on a 500,000 property is an 80% LTV; a 300,000 mortgage on the same property is 60%. A lower LTV means you are borrowing a smaller share of the price and putting in more of your own money, which usually means less total interest and can help you qualify for a better rate. Lenders typically set a maximum LTV, so the financing ratio is one of the first numbers they look at. This calculator computes LTV automatically from the price and the down payment so you can see how each change moves it.

  • Affordability is an estimate

    The payment-to-income ratio shown here is a rough guide, not an eligibility decision. Lenders weigh it alongside credit history, employment, existing debts, the financing ratio, and their own policy. A ratio that looks comfortable here may still be declined, and one that looks high may still be approved with other strong factors. Treat the figure as a starting point for a conversation with a lender or advisor.

  • Disclaimer

    This is an educational estimate only and is not mortgage, financial, banking, or tax advice, nor an offer of a loan. Actual terms can vary by lender, credit score, financing ratio, income, fees, insurance, indexation, the chosen tracks, early-repayment penalties, and other conditions. The calculator does not check eligibility and does not replace a mortgage advisor or a check with a lender. Before any real financial decision, check with a lender or a suitable professional.

  • Privacy

    Everything happens in your browser. The price, down payment, rate, term, income, and all results are not uploaded, not saved to localStorage or IndexedDB, and not sent to analytics. Minimal operational analytics measure general usage only, such as a page view and a first successful use; no amount or result is ever sent. Refreshing the page resets everything.

05

Frequently asked questions

What is a mortgage calculator?

A tool that estimates the monthly payment, total interest, financing ratio, and amortization schedule of a mortgage from the property price, the down payment, the interest rate, the term, and the repayment method.

How is the monthly payment calculated?

With the equal-payment (annuity) method, the payment is solved so that every month is identical, using payment = P · r / (1 − (1 + r)^(−n)). With equal principal, a fixed slice of principal plus interest on the remaining balance is charged each month, so the payment declines. At a 0% rate the payment is the amount divided by the number of months.

What does down payment (equity) mean?

The down payment is the cash you put toward the property up front. The mortgage amount is the property price minus the down payment. A larger down payment lowers the mortgage amount, the financing ratio, and the total interest.

How does the down payment affect my mortgage?

A larger down payment reduces the amount you borrow, so the mortgage amount, the loan-to-value (financing ratio), the monthly payment, and the total interest all go down. A lower loan-to-value can also help you qualify for a better rate. A smaller down payment does the opposite: a higher mortgage amount, a higher financing ratio, and more interest over the term.

What is loan-to-value (LTV)?

Loan-to-value, shown here as the financing ratio, is the mortgage amount divided by the property price, expressed as a percentage. For example, a 400,000 mortgage on a 500,000 property is an 80% LTV. A lower LTV means you are borrowing less relative to the price, which usually means less total interest, and lenders typically cap the maximum LTV they will lend.

Does this include property tax and insurance?

No. The calculation covers principal and interest only. It does not include property tax, home or life insurance, escrow, lender fees, indexation, or early-repayment penalties, all of which can raise the real monthly cost. Treat the figure as a principal-and-interest estimate, not your full housing payment.

Is the affordability figure financial advice?

No. The payment-to-income ratio is an educational estimate only, not an eligibility check or advice. Lenders weigh many factors, so treat it as a starting point and confirm with a lender or advisor.

What is the difference between equal payment and equal principal?

With equal payment (annuity) the monthly payment is level, and early on a larger share goes to interest. With equal principal you repay the same amount of principal each month, so the payment starts higher and decreases over time.

What is the financing ratio (loan-to-value)?

The mortgage amount divided by the property price, as a percentage. For example, a 400,000 mortgage on a 500,000 property is an 80% financing ratio. Lenders typically cap this ratio.

Does it include taxes, insurance, and fees?

No. The calculation covers principal and interest only. Property taxes, home and life insurance, lender fees, indexation, and penalties are not included and can change the real cost.

Is anything I enter uploaded?

No. All calculation happens in your browser. The price, down payment, rate, term, income, and results are not uploaded, not stored, and not sent to analytics.

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