Mortgage Calculator

Monthly mortgage repayments depend on how much you borrow, the interest rate, and the term (usually in years). This calculator uses a standard amortising loan formula to estimate the fixed monthly payment and the total interest paid over the life of the loan. Everything runs locally in your browser — your inputs are not uploaded to produce the result.

An amortising mortgage spreads capital and interest so the balance falls to zero by the final payment (assuming rate and term stay as modelled). Early payments are interest-heavy; later payments clear more capital. Overpaying, when your lender allows it, can cut total interest and shorten the term.

Enter the property price and deposit so the loan amount reflects what you need to borrow. A larger deposit lowers the loan and often improves the rates lenders offer. Stamp duty (or local transfer taxes) and fees sit outside this repayment estimate — use the Stamp Duty Calculator UK or US Transfer Tax tools for purchase-tax planning.

Quoted rates can be fixed or variable; stress-test a higher rate than today’s offer so you know the payment still fits your budget. This tool does not include product fees, valuation costs, or insurance. Lender affordability checks also look at income, credit, and other commitments.

Use Mortgage Calculator for quick planning when comparing offers or deposit sizes. Confirm any home-buying decision with your lender, broker, or conveyancer — figures here are educational estimates, not a formal quote.