Finance

Mortgage Calculator

Estimate your monthly mortgage payment from the property price, down payment, annual rate, and term, with the financing amount, total paid, and financing cost clearly shown.

Enter the values and choose “Calculate” to see your payment and summary here.

How this calculator works

Calculation method

Financing amount = property price − down payment. The annual rate is converted to a monthly rate and payments are spread over the number of months. At a 0% rate, the payment is simply the financing amount ÷ the number of months.

Financing amount vs. payment

The financing amount is the principal you need after the down payment. The payment is the monthly amount produced by the principal, rate, and term.

How the term changes the result

A longer term usually lowers the monthly payment, but can increase the total financing cost when the rate stays the same. Compare terms using the same values before deciding.

Quick questions

Is this result a financing offer?

No. It is a mathematical estimate from the values you enter, not an approval or offer from a bank or lender.

Does it include fees or taxes?

No, unless they are already reflected in the annual rate you enter. Review the actual offer for every cost.

What is total financing cost?

It is total paid minus the financing amount, under this calculator’s formula only.