Mortgage Calculator
Enter the property price, down payment, annual interest and term (years) — the loan amount and monthly mortgage payment are calculated automatically.
Mortgage calculator
Mortgage calculation based on property price and down payment.
How does a mortgage work?
A mortgage is a long-term loan granted against the pledge of real estate. The buyer pays part of the property's value as a down payment, while the remaining amount is financed by the bank and repaid together with annual interest in monthly payments. The monthly payment is calculated with the annuity method.
The importance of the down payment
The down payment is the portion of the property's value paid up front and is usually expressed as a percentage. The higher the down payment, the smaller the loan amount, and the lower the monthly payment and total interest cost. The calculator automatically computes the down payment percentage so you can easily assess the terms.
How is the monthly payment calculated?
First the loan amount is found: Property price − Down payment. Then, based on this amount, the annual interest and the term (years × 12 = months), the monthly payment is calculated with the annuity formula. The calculator also shows the total payment and the total interest cost payable over the loan term.
How to use the calculator?
Enter the property price, down payment, annual interest and term (years). The result shows the loan amount, down payment percentage, monthly payment, total interest cost and total payment instantly. By checking different down payment and term options you can choose the most suitable plan.
Frequently asked questions
What is the minimum down payment for a mortgage?
The minimum down payment depends on the terms of the bank and the program. The calculator shows the result for any down payment amount.
Is a longer term more advantageous?
A longer term reduces the monthly payment but increases the total interest cost. It is recommended to choose a balance based on your monthly budget and the total cost.
Is the result the same as a real bank offer?
The result is approximate. A real offer may also include commission, insurance and other costs; contact the bank for exact figures.
Note: This calculator and information are for estimation and informational purposes only and are not legal or tax advice. For accurate calculations and official confirmation, consult official sources or a specialist.