Mortgage calculator
Estimate your monthly mortgage payment from home price, down payment, interest rate, and term — then check loan-to-value (LTV) and rough affordability against your income. Compare two offers (e.g. 25-year vs 30-year, or 3.8% vs 4.1%) to see payment difference and lifetime interest. Property taxes, insurance, and HOA are not included unless you add them; this focuses on principal and interest.
Principal
Annual interest rate (%)
Years
Result
Monthly payment: 2456.35
Total paid: 736904.99
Interest: 336904.99
How to calculate a mortgage
1. Enter purchase price and down payment (or deposit) to derive loan amount and LTV.
2. Set annual interest rate and amortization term (e.g. 25 or 30 years).
3. Optionally enter gross monthly income to see payment-to-income ratio.
4. Compare a second scenario — rate, term, or down payment — side by side.
Mortgage examples
€350,000 home, 20% down, 4.0%, 25 years
Loan €280,000; LTV 80%. Payment ≈ €1,479/month principal + interest; total interest ≈ €163,700. Putting 10% down instead raises LTV to 90% and payment to ≈ €1,664 with more PMI risk.
Affordability check
Payment €1,479 with €5,500 gross monthly income → ≈ 27% payment-to-income, often within conservative 28–33% guidelines (lenders also weigh other debts).
Comparing two offers
Same €280,000 loan: 3.9% / 25 yr ≈ €1,465/month vs 4.2% / 30 yr ≈ €1,370/month — lower payment but ~€40,000 more total interest over the longer, higher-rate life.
When to use this tool
• When you house-hunt and need quick payment estimates from listing prices.
• When you weigh larger down payment vs keeping cash for renovations.
• When you compare broker quotes with different terms and rates.
When to choose something else
• When you need official pre-approval — use a lender or broker.
• When you must model ARM resets, interest-only periods, or local tax escrow.
• When currency-specific government schemes (FHA, Help to Buy, etc.) apply — use specialized calculators.
Affordability is more than the mortgage line
Lenders check credit, employment, other loans, and sometimes stress rates 2–3 points above your offer. Maintenance, utilities, and commuting often add 1–2% of home value per year. A payment at 30% of gross income may feel tight after life costs. Use this tool for P&I baseline, then add tax, insurance, and a maintenance buffer before maxing price.
Comparing offers systematically
APR on mortgages includes some fees; still compare total interest and break-even on points paid to buy down rate. If paying €2,000 in points saves €35/month, divide 2000÷35 ≈ 57 months to break even — stay longer than that to win. Run both offers here with identical down payment so LTV effects do not confuse the comparison.
Frequently asked questions
What is LTV?
Loan-to-value = loan amount ÷ property value × 100. €270,000 loan on a €300,000 home = 90% LTV. Lower LTV often means better rates and no mortgage insurance.
What payment-to-income ratio do banks use?
Many use 28–36% rules: housing payment under ~28% of gross income, total debt under ~36%. Policies vary by country and lender.
Are taxes and insurance included?
Not by default. Add estimated tax and insurance to P&I for a full housing payment (PITI).
Fixed vs variable rate?
This calculator assumes a fixed rate for the whole term. Variable rates need scenario tools with index spreads and caps.
Does a longer term always help?
It lowers monthly payment but increases total interest. A 30-year term can cost tens of thousands more than 25 years at the same rate.
Is my data sent to a server?
No. All math runs locally.
Is this tool free?
Yes.