Mortgage Calculator
Calculate your home loan payments with multi-currency support, prepayment options, and detailed amortization schedules
Mortgage Calculator - Plan Your Home Loan with Multi-Currency Support
| Year | Total Payments | Principal Paid | Interest Paid | Balance |
|---|---|---|---|---|
| Total |
| # | Principal | Interest | Balance |
|---|---|---|---|
| Total |
A mortgage calculator is an essential tool for anyone considering buying a home. It helps you estimate your monthly mortgage payments based on the loan amount, interest rate, and loan term. Our advanced calculator goes beyond basic calculations to include multi-currency support, prepayment options, and detailed amortization schedules.
Mortgage payments consist of two main components: principal and interest. The principal is the amount you borrowed, while the interest is the cost of borrowing that money. In the early years of your mortgage, a larger portion of your payment goes toward interest. As you pay down the loan, more of your payment goes toward reducing the principal.
The calculator provides detailed information about your mortgage:
These projections help you understand the true cost of your mortgage and make informed decisions about your home purchase.
The calculator uses the standard fixed-rate amortization formula: M = P × [ i(1+i)^n / ((1+i)^n − 1) ], where P is the loan amount, i is the periodic interest rate (APR divided by the number of payments per year), and n is the total number of payments.
The amortization period is the total time to pay the loan to zero. The term is the length of your current rate agreement. In many markets you renegotiate or refinance at the end of the term while continuing the same amortization schedule.
Yes. Choose your desired frequency, and the calculator converts APR to the matching periodic rate and generates the correct number of payments per year.
Prepayments reduce principal directly. If you select "Each Payment," the extra amount is added to principal every period after the start payment number. If you select "Annual," the extra is added at the final payment of each year.
Because interest is calculated on the outstanding balance, early payments allocate more to interest and less to principal. As the balance falls, the interest portion declines and principal grows.