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Loan principal
Mortgage Payment Calculator
Buying a home is one of the largest financial decisions most people make. This mortgage calculator estimates the fixed monthly principal-and-interest payment for a loan of a given size, rate and term. It also shows total interest over the life of the loan so you can compare scenarios side by side before speaking with a lender. Taxes and insurance are not included unless you add them separately. Figures and examples are oriented toward European users, with euro amounts and metric units where relevant.
Please check your inputs — down payment can't exceed home price.
Monthly payment
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Total interest
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Total payment
How to Use the Mortgage Calculator
- Enter the loan amount (home price minus down payment).
- Input the annual interest rate and loan term in years.
- Calculate monthly principal-and-interest payment and total interest.
- Try different rates or terms before speaking with a lender.
Start with the inputs shown in the calculator and use the units or options that match your situation. Enter realistic values rather than estimates when you have the exact figures available. After you select Calculate, check the displayed result and the supporting breakdown. If you change an input, run the calculation again so the result reflects the updated assumptions. The tool is designed to make the process quick while keeping the underlying steps understandable.
Mortgage Calculator Formula Explained
Standard Amortizing Loan Payment Formula
Monthly payment M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is monthly interest rate (annual rate ÷ 12), and n is number of monthly payments (years × 12). Each payment covers interest on the remaining balance first; the rest reduces principal. Early payments are interest-heavy; later payments are principal-heavy. Total interest is (M × n) − P.
The displayed result depends on the inputs you provide and the calculation method described on this page. Keeping the inputs consistent with the stated units is important because changing a unit, period, rate, date, or percentage can change the result significantly. The calculator performs the arithmetic automatically, while the explanation gives you enough context to understand what is being combined, converted, or compared. For estimates, treat the output as an indication based on your assumptions rather than as a guaranteed real-world outcome.
Mortgage Calculator Example Calculation
A €280,000 mortgage at 3.5% over 25 years has a lower monthly payment than the same loan over 20 years, but total interest paid is higher on the longer term. Figures here are principal and interest only; local property tax and insurance vary by country and lender.
This example is meant to show the order of the inputs and the way the final result is reached. In your own calculation, replace the example figures with your actual values and keep the same units throughout. A useful check is to change one input slightly and confirm that the result changes in a sensible direction. That simple check can help catch an incorrect unit, percentage, date, or other assumption before you rely on the result.
When to use this tool
Use this when comparing fixed-rate home loan scenarios in European markets before speaking with a bank or broker.
Key Features & Benefits of This Mortgage Calculator
- Built for real use — Use this when comparing fixed-rate home loan scenarios in European markets before speaking with a bank or broker.
- Instant, free and private — runs entirely in your browser, no sign-up, nothing stored.
- Formula-accurate — Standard Amortizing Loan Payment Formula Monthly payment M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is principal, r is monthly interest rate (annual rate ÷ 12), and n is number of monthly payments (years × 12).
- Works on any device — mobile or desktop, no app or installation needed.
Good to know
Stress tests and affordability checks used by European lenders may assume higher rates than today’s offer. Keep a buffer beyond the minimum payment shown here.
Mortgage Calculator — FAQs
Does this include property tax and insurance?
No. The figure is principal and interest only. Escrow items vary by location and lender and should be added for a full housing-cost estimate.
What happens if I make extra payments?
Extra principal payments reduce the balance faster, cut total interest and can shorten the term. The calculator assumes the contractual schedule only.
Is a 15-year always better than a 30-year?
A shorter term usually means higher monthly payments but far less total interest. Affordability and cash-flow needs decide which is appropriate.
Does this include property tax and insurance?
No, this estimates the principal-and-interest portion only. Add your local property tax and homeowners insurance separately for a full monthly figure.
The FAQs below address common questions about using this Mortgage Payment Calculator. They also explain assumptions and situations where the result may need additional context. If your situation uses a different rule, local rate, institutional policy, or professional standard, use the relevant source alongside the calculator rather than treating a general estimate as a definitive answer.