🧮MoneyToolsLab
MORT

Mortgage Calculator

Loan & Credit

Estimate your monthly mortgage payment including principal, interest, and see a full repayment breakdown for your home loan.

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Mortgage amount

$280,000

6.5%
0.5%30%

Mortgage Summary

Monthly payment

$1,770

Total payment

$637,125

Total interest

$357,125

LTV ratio

80.0%

Good LTV

Loan-to-value ratio

0%80.0% LTV100%
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Mortgage rates in Global

Rates vary by lender and credit score.
Also available in:🌍GlobalđŸ‡ŗđŸ‡ŦNigeria (â‚Ļ)đŸ‡Ŧ🇧UK (ÂŖ)đŸ‡ē🇸US ($)🇨đŸ‡ĻCanada (CA$)

What is a Mortgage Calculator?

A mortgage calculator helps you estimate your monthly home loan repayment based on the property value, your down payment, the interest rate, and the mortgage term. It is an essential first step for any home buyer in [GEO] planning their finances before approaching a bank or lender.

How to use this calculator

Enter the property price and your planned down payment — the calculator automatically derives the loan amount. Then enter the interest rate and mortgage term. You will see your monthly repayment, total interest over the life of the loan, the loan-to-value (LTV) ratio, and a full yearly amortisation schedule.

Example

On a $350,000 home with a $70,000 down payment (20%), at 6.5% over 30 years, your monthly mortgage payment would be approximately $1,770. Total interest paid over the life of the loan would be around $277,000.

Frequently asked questions

What is loan-to-value (LTV) ratio?

LTV is the loan amount as a percentage of the property value. A lower LTV means less risk for the lender — most banks prefer LTV below 80%. Above 80%, lenders may require mortgage insurance.

Does this include property taxes and insurance?

No — this calculator computes principal and interest only. Your actual monthly payment from the bank will include property taxes, insurance, and possibly HOA fees.

How much deposit do I need for a mortgage?

Most lenders require a minimum 10%–20% deposit. A 20% or more deposit typically gives you the best interest rates and avoids mortgage insurance requirements.

What is the difference between fixed and variable mortgage rates?

A fixed rate stays constant for the entire term. A variable rate changes with the market. Fixed rates offer certainty; variable rates can be lower initially but carry more risk.