Mortgage calculator
Payment, overpayment and required income in seconds. Add an early repayment and see how much shorter the term gets.
Payments by year
Table
How the mortgage is calculated
The loan amount is the property price minus the down payment. The rate is converted to monthly: divide the annual rate by 12 and by 100.
Declining: Pk = S / n + balancek × r
An early repayment goes toward the principal and shortens the term: the payment stays the same, and interest accrues on a smaller balance. That’s why early repayments made sooner save the most.
A mortgage is part of the bigger picture: how much goes to the loan, and how much is left for an emergency fund and investing. That’s what the Wealth Plan financial checkup shows.
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Does the mortgage fit your plan?
The financial checkup shows how much money is left after the payment, whether your emergency fund is enough and how much to save for passive income. Free, 10 minutes.
FAQ
How do I calculate a monthly mortgage payment?
With an annuity mortgage the payment is the same for the whole term: P = S × r / (1 − (1 + r)^−n), where S is the loan amount, r is the monthly rate (annual / 12 / 100) and n is the term in months. The calculator does this automatically and shows the overpayment.
What’s the difference between annuity and declining payments?
An annuity payment is the same every month, and early on most of it goes to interest. A declining payment starts higher but falls every month, and the total overpayment is lower.
How can I reduce mortgage overpayment?
A bigger down payment, a shorter term and early repayments. Enter a monthly early repayment in the calculator and it will show how much shorter the term gets and how much interest you save.
What income do I need for a mortgage?
Banks usually want the payment to be no more than 40–50% of verified income. The calculator shows the income at which the payment is 40%.
Does the calculator include insurance and fees?
No, it shows principal and interest only. Insurance, valuation and bank fees are added separately and depend on the bank.