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Mortgage Calculator
Calculate mortgage loan with down payment, insurance and additional expenses.
4.9
Calculation Parameters
Enter data for calculation
50000 $
50000 $10000000 $
10000%
0%90%
5% per year
1% per year30% per year
20 yrs
1 yr30 yrs
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Everything about Mortgage Loan
A mortgage loan is a long-term loan issued by a bank to purchase real estate secured by the property itself. This is one of the most common ways to acquire housing.
When calculating a mortgage, it is important to consider not only the monthly payment, but also the total overpayment over the entire loan term. The longer the term, the greater the overpayment, but the lower the monthly burden.
The down payment usually amounts to 10-20% of the property value. Some banks offer mortgages without a down payment, but the interest rate will be higher.
Frequently Asked Questions
Answers to common questions about this calculator
Most banks require a minimum of 10-20% of the property value. The larger the down payment, the lower the interest rate and monthly payment.
Monthly payment is calculated using the annuity formula: loan amount × (rate/12) × (1 + rate/12)^months / ((1 + rate/12)^months - 1). Our calculator does this automatically.
The rate is affected by: down payment size (larger down payment — lower rate), loan term, your credit history, income and presence of co-borrowers.
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