Mortgage Calculator
Monthly payment, loan to value and the true monthly cost. Free, and runs entirely in your browser — nothing you enter is uploaded or stored.
About Mortgage Calculator
The monthly payment on a mortgage, and the number that matters more: what the house costs a month once property tax and insurance are counted. Those two are not the loan, they do not shrink as the balance does, and they are why a payment that looked affordable sometimes is not.
Loan to value comes out of the same numbers and decides the rate you will be offered. Most lenders price in bands — 60, 75, 80, 90, 95% — so a deposit that pushes you over a boundary is often worth more than the same money spent on the balance.
The total interest is the number people avoid looking at. On a long term at an ordinary rate it is a large fraction of the house, and seeing it is the fastest argument for a shorter term or an overpayment.
For overpayments and an amortisation schedule, use the loan calculator: this one is about what the house costs a month before you sign.
Where it helps
- Separates the loan payment from the tax and insurance, which is the difference between the quoted figure and the real one.
- Gives loan to value, which is what the rate you are offered depends on.
- Shows the total interest over the term, which no advertisement ever puts next to the monthly figure.
- Runs locally — nothing about what you can afford is transmitted.
Limits
- A fixed rate for the whole term: a variable, tracker or expiring fixed rate will diverge, sometimes a great deal.
- Arrangement fees, valuation fees, legal costs and stamp duty are not included, which is why a lender's APR is higher than this rate.
- It does not model overpayments or offsets — the loan calculator does.
- It is arithmetic, not a mortgage offer or financial advice.
Frequently asked questions
Why is the lender's APR higher than my rate?
Because APR folds the fees into the rate and assumes you keep the deal for the full term. This calculator shows the pure interest on the loan.
How much difference does the deposit make?
Twice over: it reduces the amount borrowed, and it lowers the loan to value, which is banded. Crossing from 85% to 80% can cut the rate on the whole loan.
Should I take a shorter term?
A shorter term raises the monthly payment and cuts the total interest sharply. Compare the totals here at 25 and 30 years and the size of that trade is obvious.
Where do tax and insurance come in?
They are not part of the loan, but they leave your account every month all the same — and in places where they are escrowed, they arrive in the same payment. Enter them to see the true monthly cost.
Related tools
- Loan Calculator — Payments, total interest, overpayments and a full amortisation schedule
- ROI Calculator — Return on investment, and what it is a year
- Percentage Calculator — Percentages, differences and percentage change
- Profit Calculator — Gross and net profit, margins and break-even
- Storage Units — Convert between decimal and binary data units
- Temperature Converter — Convert between Celsius, Fahrenheit, Kelvin and Rankine
More Calculators tools
- Percentage Calculator — Percentages, differences and percentage change
- Storage Units — Convert between decimal and binary data units
- Temperature Converter — Convert between Celsius, Fahrenheit, Kelvin and Rankine
- Length Converter — Convert between metric and imperial lengths, from millimetres to miles
- Area Converter — Convert between square metres, square feet, acres, hectares and more
- Volume Converter — Convert between litres, gallons, cups, fluid ounces and more, US and UK
- Weight Converter — Convert between metric and imperial weights, from milligrams to tons
- Speed Converter — Convert between km/h, mph, m/s, ft/s and knots, with running pace
- Bandwidth Calculator — Transfer times and data volumes for a link speed
- Unix Permissions Calculator — Convert between 755 and rwxr-xr-x, and say what each bit allows
- Subnet Calculator — IPv4 and IPv6 networks, masks, splits, VLSM plans and summarisation
- Aspect Ratio — Ratios and proportional resize targets
- Age Calculator — Age in years, months and days, and the next birthday
- BMI Calculator — Body mass index, its band and the healthy range
- GST Calculator — Add or remove GST, split into CGST, SGST and IGST
- VAT Calculator — Add or take off VAT at any rate
- Discount Calculator — What you pay after one discount or several
- Profit Calculator — Gross and net profit, margins and break-even
- Margin Calculator — Margin, markup, cost or price — give any two
- ROI Calculator — Return on investment, and what it is a year
- Tip Calculator — Tip, total and the split between everyone
- Scientific Calculator — Expressions with functions, constants and brackets
- Loan Calculator — Payments, total interest, overpayments and a full amortisation schedule