Free Mortgage Calculator
Calculate your monthly payment, total interest paid, and loan-to-value ratio instantly. Works with any currency — no sign-up required.
Mortgage Calculator
How to Use This Calculator
Enter the full property price, your planned down payment, the annual interest rate offered by your lender, and the loan term in months (e.g. 360 for 30 years, 180 for 15 years). Click Calculate to instantly see your monthly payment, total repayment, total interest, and your Loan-to-Value ratio. All results update immediately — try adjusting the down payment or term to see how each variable impacts your costs.
Understanding Your Results
Your monthly payment is the fixed amount you pay every month for the entire loan term. It covers both a portion of the principal (the actual loan balance) and the interest charged on the remaining balance that month.
The total repayment is what you will pay in total over the entire life of the mortgage — principal plus all interest. The difference between total repayment and your loan amount is your total interest paid, which reveals the true cost of borrowing over time.
Your Loan-to-Value (LTV) ratio compares your loan amount to the property value. An LTV above 80% typically triggers a requirement for Private Mortgage Insurance (PMI). Keeping your LTV at or below 80% by making a larger down payment saves you this additional cost and often qualifies you for lower interest rates.
The Mortgage Payment Formula
Every fixed-rate mortgage uses the standard amortization formula to calculate your monthly payment:
This formula ensures that by making the same payment every month, your loan is fully paid off — both principal and interest — by the final payment date. In the early years, most of each payment covers interest. As the balance decreases over time, more of each payment goes toward reducing the principal.
Real-World Examples
Example 1 — Standard 30-Year Mortgage
Example 2 — 15-Year Mortgage (same property)
Example 3 — Low Down Payment with PMI Risk
⚖️ Financial Disclaimer
This calculator is provided for general informational and educational purposes only and does not constitute financial, tax, investment or legal advice. It uses the standard fixed-rate amortization formula (M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]), the same formula used by mortgage lenders and amortization schedules worldwide, but actual figures depend on your lender, local regulations, fees and current market conditions, and may differ from your final terms.
Before making a financial decision, verify your numbers with a licensed financial advisor, accountant, mortgage broker, or your relevant national tax authority.
🛡️ Formula Verification & Methodology
This calculator uses the standard fixed-rate amortization formula (M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]), the same formula used by mortgage lenders and amortization schedules worldwide. The underlying logic was built and manually cross-checked against independent reference calculators and textbook worked examples across dozens of test cases before publication.
Every formula on elCalculador is reviewed by our editorial team for mathematical accuracy, and pages are re-audited whenever a calculator's logic or inputs are updated.