Mortgage repayment calculator
Amount, rate, term, and repayment method to monthly payment, interest, and amortization.
Enter the loan amount, rate, term, and repayment method to see the monthly payment, total interest, and amortization — then re-run at higher rates to see how sensitive the payment is.
Key points
- Shows monthly payment, total interest, and the amortization schedule.
- Compares level payment and level principal.
- A one- or two-point rate difference is large over 35 years.
- Excludes fees, insurance, and taxes — add those separately.
Inputs and outputs
Inputs: loan amount, nominal annual rate, term (years), and repayment method (level payment or level principal).
Outputs: monthly payment, total interest over the term, and the amortization schedule showing the interest/principal split each period.
How to interpret the result
The calculator shows the loan cost only; add fees, insurance, and taxes for the true cost, and always re-run at +1, +2, and +3 points if the rate is variable.
What the tool shows — and what it doesn’t
In short: Shows monthly payment, total interest, and the amortization schedule; Compares level payment and level principal; A one- or two-point rate difference is large over 35 years; Excludes fees, insurance, and taxes — add those separately.
A calculator is only as good as its inputs and the scenarios you test, and it models arithmetic, not approval: it cannot tell you whether a lender will lend, what rate underwriting will actually offer, or how your circumstances will change. Use it to compare options and to stress-test — run a mortgage at the offered rate plus one, two, and three points, and a purchase at pessimistic as well as central assumptions — rather than to produce a single answer. Advertised rates are execution-month or example figures, not guaranteed offers, so treat any result as a planning estimate and confirm the real numbers with a dated written quotation before you commit.
Key points to carry away: Shows monthly payment, total interest, and the amortization schedule; Compares level payment and level principal; A one- or two-point rate difference is large over 35 years; Excludes fees, insurance, and taxes — add those separately. Use the linked guides and calculators for the full decision, and confirm anything material with the lender, a licensed broker, a judicial scrivener, or a tax accountant before you act.
Who this is for
- Buyers and borrowers modeling a decision
- Anyone stress-testing affordability
What this is not
- A guaranteed quote or approval
- The calculator shows the loan cost only; add fees, insurance, and taxes for the true cost, and always re-run at +1, +2, and +3 points if the rate is variable.
Frequently asked questions
What is amortization?
The scheduled reduction of principal through payments; early payments on a level-payment loan are mostly interest.
What is level principal-and-interest repayment?
A structure aiming for a level scheduled payment, subject to rate resets; total interest is higher than level principal.