Mortgage Calculator

Enter the amount borrowed, annual interest rate, and full repayment period in years, then select Calculate. The borrowed amount is the loan principal, which may differ from the home’s price after a down payment and financed costs. Use the same currency throughout.

​

REPAYMENT PERIOD VERSUS MORTGAGE TERM

​

This calculator’s year input represents the full time used to pay off the loan, often called the amortization period. It is not necessarily the length of a mortgage contract before renewal. A shorter contract can expire while a substantial balance still remains.

​

WORKED MONTHLY-PAYMENT EXAMPLE

​

Using this tool’s monthly-rate model, a $200,000 loan at 6% over 30 years has an estimated monthly payment of about $1,199.10. At 0%, the same amount divided across 360 months is about $555.56 per month. These examples isolate principal and interest; they are not estimates of every homeownership expense.

​

ASSUMPTIONS BEHIND THE RESULT

​

The calculation uses equal monthly payments, a fixed rate throughout the entered repayment period, and an annual rate divided by 12. It does not model rate changes at renewal, accelerated payment schedules, or extra repayments. A lender’s compounding convention can differ from this model, including for Canadian mortgage quotations.

​

Compare both payment size and total interest when changing the repayment period. Add property taxes, insurance, maintenance, condominium fees, and other relevant costs separately when considering a housing budget. Mortgage insurance premiums, fees, and lender rounding rules may also affect the financed amount or payment. Treat the result as a scenario comparison, then verify the lender’s own disclosure and payment schedule.