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What this calculator does
Estimate a home-loan payment after your deposit and see the borrowing cost over time.
How to use this calculator
- Enter home value, deposit, rate, term, and monthly costs.
- Review the calculation assumptions before using the result.
- Compare the payment and total interest with your housing budget.
How to calculate
Enter the property price, down payment, interest rate, loan terms, and any other monthly costs.
Worked example
A 500,000 home with 20% down has a derived loan amount of 400,000.
Understanding your result
Compare the payment and total interest with your housing budget.
- Taxes, insurance, lender fees, and approval criteria can change the real payment.
- Double-check values and units before calculating.
Mortgage results are estimates and other monthly costs depend on your circumstances.
Frequently asked questions
What does this mortgage calculator do?
Estimate a home-loan payment after your deposit and see the borrowing cost over time.
How do I use this mortgage calculator?
Enter home value, deposit, rate, term, and monthly costs.
What does the result mean?
Compare the payment and total interest with your housing budget.
What should I check before relying on it?
Taxes, insurance, lender fees, and approval criteria can change the real payment.
How much should I put down on a mortgage?
A larger down payment lowers the loan amount, monthly payment, and total interest, and can help you avoid extra costs like private mortgage insurance in some markets — but the right amount also depends on your savings cushion and other goals, not the mortgage math alone.
Does the estimate include property tax and insurance?
Only if you enter them under other monthly costs. The core payment calculation covers principal and interest; property tax, homeowners insurance, HOA fees, and mortgage insurance are separate costs that vary by location and lender.
How does a shorter loan term change the total cost?
A shorter term, such as 15 years instead of 30, raises the monthly payment but sharply cuts total interest paid, since the balance is paid down faster and has less time to accrue interest.