Mortgage & Loan Repayment Calculator
Calculate monthly mortgage and loan repayments, total interest paid, amortisation schedule, and overpayment interest savings with multi-currency support.
Loan Parameters
Payment Summary
Annual Amortization Schedule
| Period | Principal Paid | Interest Paid | Extra Paid | Total Paid | Remaining Balance |
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About this tool
How to use it
- Enter your total loan amount (home purchase price minus down payment) and select your currency.
- Set the annual interest rate (e.g. 6.25%) and loan duration term in years (e.g. 15, 25, or 30 years).
- Optionally input annual property taxes, home insurance, and any planned regular monthly overpayment.
- Click Calculate Repayment to generate your monthly payment breakdown, total interest cost, and annual amortization schedule.
Why it matters
Mortgages and large consumer loans represent long-term financial commitments where small interest rate variations and early overpayments create dramatic differences in total interest paid. Running these calculations locally provides instant modeling with zero tracking of your financial figures.
When to use it
Use this calculator when shopping for home mortgages, negotiating refinancing terms, planning bi-weekly or monthly overpayment strategies, or comparing loan options from different mortgage lenders.
Good to know
Calculations use standard fixed-rate amortization formulas. Actual mortgage offers may include origination fees, private mortgage insurance (PMI), or variable rate adjustment caps. Always verify terms with your qualified mortgage broker or lender.
Common questions
How does early mortgage overpayment reduce total interest?
Overpayments go 100% directly toward reducing your outstanding loan principal. Because monthly interest is calculated against the remaining principal balance, lowering the principal early permanently cuts future compound interest charges and shortens the loan payoff date.
What is the difference between fixed-rate and adjustable-rate mortgages?
A fixed-rate mortgage maintains the exact same interest rate and monthly principal-and-interest payment across the entire loan lifetime. An adjustable-rate mortgage (ARM) features an initial fixed period followed by periodic rate resets tied to benchmark market indexes.
What formula calculates monthly mortgage payments?
The monthly payment is computed using the standard annuity formula: M = P * [r(1 + r)^n] / [(1 + r)^n - 1], where P is the principal loan balance, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments.
Are property taxes and homeowner insurance included in monthly payments?
Most residential lenders bundle property taxes and home insurance into an escrow account collected alongside your monthly mortgage payment. You can enter your estimated annual tax and insurance amounts in this tool to see your full monthly housing cost.
Can I make lump-sum mortgage overpayments without penalty?
Many conventional mortgages allow penalty-free overpayments up to an annual percentage threshold (often 10% to 20% of the original balance). Check your specific mortgage terms for early prepayment penalty clauses before making large lump-sum payments.