Free tool
Mortgage calculator
See your monthly payment, the total interest and what paying extra would save, in any currency. Nothing you enter leaves your browser.
Enter a home price and interest rate to see your payment.
Mortgage calculators by country
Questions
- How is a mortgage payment worked out?
- The rate is split into twelve, and interest is charged each month on what you still owe. The payment stays the same, so early payments are mostly interest and later ones mostly clear the loan.
- What’s the difference between repayment and interest only?
- A repayment loan clears itself by the end of the term. On interest only, the monthly payment is lower, but the whole loan is still owed at the end and you need a way to pay it.
- Is it worth paying extra each month?
- Usually, because every extra payment reduces the balance that interest is charged on. Check your lender’s rules first, as some charge a fee for overpaying.
- Why does a longer term cost more?
- The monthly payment falls, but you owe the money for longer, so you pay interest for longer. Try 20 and 30 years in the calculator to see the difference.
Renting instead? See what rent you can afford, or compare renting with buying. Selling or letting property? We build websites.