Mortgage calculator

Property price

010 million

Down payment (amount or % of purchase price)

Loan amount$400,000

Down payment$100,000

Loan term

150 years

Interest rate

Calculation mode

Enter the amount, term, and rate to calculate the monthly payment

Payment type

This calculation is an estimate, not a loan offer. Verify fees, insurance, and the disclosed APR in your lender agreement.

Monthly payment

$2,982.29

Loan summary

Loan principal

$400,000

Term

240 months

≈ 20 years

Down payment

$100,000

Total payments

$715,750

Total interest

$315,750

Cost above principal

$315,750

78.9% of principal

Estimated borrowing cost per year

6.69%

Based on payment timing and the fees you entered

With a 15-year term

−$88,553

less interest, payment $3,484

Uses the loan funding date and each scheduled payment date. Includes the amount received after upfront fees and all later payments. This estimate may differ from the APR disclosed by your lender. Methodology and limitations.

Download the calculation and schedule

Plan extra paymentsAmount, rate, term, currency, and schedule settings will carry over

Monthly payment$2,982

See results ↓

Loan breakdownSee how your balance changes and how each payment is split among principal, interest, and fees.

Payment schedule(240 payments)

Swipe the table left or right to see every column.

#	Date	Payment	Principal	Interest	Fees	Balance
1	Oct 1, 2026	$2,982.29	$815.63	$2,166.67	—	$399,184.37
2	Nov 1, 2026	$2,982.29	$820.04	$2,162.25	—	$398,364.33
3	Dec 1, 2026	$2,982.29	$824.49	$2,157.81	—	$397,539.84
4	Jan 1, 2027	$2,982.29	$828.95	$2,153.34	—	$396,710.89
5	Feb 1, 2027	$2,982.29	$833.44	$2,148.85	—	$395,877.45
6	Mar 1, 2027	$2,982.29	$837.96	$2,144.34	—	$395,039.49
7	Apr 1, 2027	$2,982.29	$842.5	$2,139.8	—	$394,197
8	May 1, 2027	$2,982.29	$847.06	$2,135.23	—	$393,349.94
9	Jun 1, 2027	$2,982.29	$851.65	$2,130.65	—	$392,498.29
10	Jul 1, 2027	$2,982.29	$856.26	$2,126.03	—	$391,642.03
11	Aug 1, 2027	$2,982.29	$860.9	$2,121.39	—	$390,781.14
12	Sep 1, 2027	$2,982.29	$865.56	$2,116.73	—	$389,915.57

Worked example: a $500,000 mortgage over 20 years

Property price $500,000 with a 20% down payment ($100,000), so $400,000 is financed at 6.5% a year over 20 years, with fixed monthly payments.

Example dates start from January 2026. The calculator form above starts from the current month: the amounts do not change, only the payment dates shift.

Loan run

Payment: 2,982 $
Total interest: 315,750 $
Total paid: 715,750 $
Term: 240 months

Principal overtakes interest from payment 113.

Remaining balance (without the extra payment)

Balance after 5 years: 342,356 $
Balance after 10 years: 262,646 $
Balance after 15 years: 152,421 $

How it is calculated

The monthly rate is the annual rate divided by 12. The payment uses the standard annuity formula: principal × M·(1+M)^S / ((1+M)^S − 1), where M is the monthly rate and S the number of payments. Interest is charged on the remaining balance each month; the rest reduces principal.

What the estimate leaves out

The estimate leaves out insurance, one-off and recurring fees, rate changes and a lender's rounding rules. Extra payments are modelled by the extra-payment calculator and on the amortization schedule page. Confirm final terms in the loan agreement.

These figures come from the same model as the calculator above — enter them and compare.

Frequently asked questions

Is this an official lender quote?

No. It is an independent estimate; verify dates, fees, insurance, and rounding in the agreement.

Can I include insurance?

Use the insurance comparison and fee controls to model the payment method stated by the lender.

Why is most of the early payment interest?

Interest is charged on the outstanding balance, which is at its highest at the start. In the example below the principal only overtakes interest in payment 113 of 240.