Mortgage Calculator

Free mortgage calculator. Calculate monthly payments, total repayment, and interest. See your full amortization schedule.

✓ Free to use ✓ Instant results ✓ Mobile friendly ✓ No sign-up needed

Home Price

Down Payment

Interest Rate (%)

Loan Term (years)

Monthly Payment

Total Repayment

Total Interest

Loan Amount

✨ What would you like to do next?

💡 Buying your first home?

Get the bestselling home buying guides and financial planning books to make smart property decisions.

Shop Home Buying Guides →

How to Use the Mortgage Calculator

Enter your home price, down payment, interest rate, and loan term to instantly see your estimated monthly payment, total repayment, and total interest paid over the life of your mortgage.

Understanding Your Results

Monthly Payment: The amount you pay each month, including principal and interest.
Total Repayment: The total amount you will pay over the entire mortgage term.
Total Interest: How much you pay in interest above the original loan amount.

Tips to Reduce Your Mortgage Cost

A larger down payment reduces your loan amount and monthly payments.
A shorter loan term increases monthly payments but dramatically reduces total interest paid.
Even a 0.5% reduction in interest rate can save tens of thousands over the life of a mortgage.

Frequently Asked Questions

How is a mortgage payment calculated?+

Monthly payment = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.

Does this include insurance and taxes?+

No. This calculator shows principal and interest only. Your actual monthly outgoing may be higher when you include property tax, home insurance, and PMI.

What is a good mortgage interest rate?+

This depends on the market, your credit score, loan type, and term. In the UK, rates typically range from 3–7%. Use this calculator to see how different rates affect your payments.