Mortgage Loan Calculator
Mortgage Calculator
Work out your monthly payment and generate an estimated amortization schedule. See how much interest you could pay, track your principal balance year by year, and enter prepayments to see how much you could save. Results update instantly as you change any value.
Loan information
* indicates required
Calculate from
Calculate fromEnter the mortgage amount directly, or enter the home price and your down payment and the mortgage amount is worked out for you.
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Down paymentThe share of the home price you pay upfront. The rest is your mortgage amount. The loan-to-value ratio (LTV) is the mortgage amount as a percentage of the home price.
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Mortgage amountOriginal or expected balance for your mortgage.
Term in yearsThe number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
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months
0160320480
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Interest rateAnnual fixed interest rate for this mortgage. Note that the interest rate is different from the Annual Percentage Rate (APR), which includes other expenses such as mortgage insurance, origination fees and points. The APR is normally higher than the simple interest rate.
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Payment frequencyHow often you make payments. Bi-weekly/fortnightly and weekly payments spread the same yearly amount over more payments. Accelerated options pay half (bi-weekly) or a quarter (weekly) of the monthly payment each time, which adds roughly one extra monthly payment per year and pays the loan off sooner.
Monthly payment
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Monthly paymentMonthly principal and interest payment (P&I). Excludes property tax, insurance and fees.
Report amortization
Report amortizationChoose how the report displays your payment schedule. Annually summarises payments and balances by year. Monthly shows every payment for the entire term.
Prepayments none
Prepayment type *
Prepayment typeThe frequency of prepayment. The options are none, monthly, yearly and one-time payment.
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Prepayment amountAmount that will be prepaid on your mortgage. It is applied directly to the principal balance, based on the prepayment type.
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Start with paymentThe payment number your prepayments begin with. For a one-time payment, this is the payment number the single prepayment is included in. Prepayments are assumed to reach your lender in time to count in the following month's interest calculation. A one-time prepayment at payment 0 is applied before the first payment.
0160320480
Taxes, insurance & fees optional
Add these to see your total monthly housing cost. They don't change the amortization schedule.
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Monthly payment (principal & interest)
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Total payments
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Total interest
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Payoff date
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Monthly housing cost
Total payments
PrincipalInterest