Free Mortgage Calculator

Work out your monthly mortgage payment — with total interest and a year-by-year breakdown.

Home price

Currency

Down payment

Annual interest rate (%)

Loan tenure (years)

Property tax per year (optional)

Home insurance per year (optional)

Free tool — the calculation happens in your browser. This is an estimate using the standard reducing-balance formula; your bank's exact payment may differ slightly.

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A home is the biggest purchase most people ever make, and the monthly mortgage payment decides whether a house is truly affordable — not just the price on the listing. This free mortgage calculator turns a home price, down payment, interest rate and tenure into a clear monthly payment, plus the total interest you will pay over the life of the loan and a year-by-year breakdown. Try a bigger down payment and watch the monthly payment fall, or compare a 15-year loan with a 25-year one to see how much extra interest the longer loan costs. Use it before you talk to a bank or an agent, so you know your budget and can compare offers with confidence. It is free, needs no sign-up, and runs entirely in your browser.

How to use the Mortgage Calculator

Enter the home price, your down payment, the interest rate and the loan tenure.
Read your monthly payment, total interest and total amount repaid.
Change one number at a time — a bigger down payment or a shorter tenure — to compare options.

Why use this tool

Monthly payment, total interest and a year-by-year breakdown in one view.
Compare down payments and tenures to see the real cost of each option.
Know your budget before you talk to a bank or an estate agent.
Free and private — no sign-up, no personal details needed.

Frequently asked questions

What is included in the monthly mortgage payment?

This calculator shows the principal and interest payment. Your real monthly cost may also include property insurance, service charges and other fees, depending on the bank and the property.

Does a bigger down payment help?

Yes. A bigger down payment means a smaller loan, so the monthly payment is lower and the total interest you pay is less.

Is a 15-year mortgage better than a 25-year one?

A shorter loan costs more each month but far less interest overall. A longer loan is easier month to month but costs much more in total. The breakdown shows the difference clearly.

Is this the exact payment my bank will charge?

It is an accurate estimate from the numbers you enter. The bank's final figure can differ because of fees, insurance, the exact rate offered, and whether the rate is fixed or variable.