Free Mortgage Calculator – Estimate Your Home Payments

Estimate monthly repayments, total interest and amortization for your home loan. Supports deposit, term and APR with clear formulas and a worked example.

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⚠️ Advisory only: This tool provides estimates for guidance. For financial advice, speak to a qualified professional.

Mortgage Calculator

Your payment will appear here

Enter loan details and select Calculate.

Why Use This Mortgage Calculator?

Instant & lightweight

No sign-ups. Results update as you type.

Full amortization

See payment split, balance and total interest.

Deposit & overpayments

Factor in down payment and optional extra payments.

Shareable

Copy a link that preserves your inputs and result.

Process (3 Quick Steps)

Enter price & deposit

We’ll calculate the loan amount.

Read the results

Monthly payment, totals, and schedule.

Set APR & term

Pick fixed/typical APR and years.

How to Use This Mortgage Calculator

Keep currencies, APR and term realistic for today’s market.
Enter deposit as a £ value or % (if your widget supports both).
Change one variable at a time to see the impact.
This tool excludes taxes/insurance/fees unless your widget adds them.

How Mortgage Payments Work

Repayment mortgages use amortization: each monthly payment includes interest on the remaining balance and principal that reduces that balance. Early payments are interest-heavy; later payments are principal-heavy. Deposit lowers the loan amount; rate and term shape the payment and total interest.

Formulas and Examples Explained

Monthly rate: r = APR / 12
Monthly payment (PMT): PMT = r × PV / (1 − (1 + r)⁻ⁿ)
Balance after k payments: B_k = PV(1+r)^k − PMT × ((1+r)^k − 1)/r
Total paid / interest: Total = PMT × n ; Interest = Total − PV

Worked example: Price £250,000, deposit 10% → PV £225,000; APR 5% → r 0.05/12; term 25 years → n 300.
Payment PMT ≈ £1,315.33/mo. Total paid ≈ £394,598; total interest ≈ £169,598. Balance after 60 payments ≈ £199,305. (Rounded to nearest £.)

Assumptions: Fixed rate for the full term, equal monthly payments, excludes taxes/insurance/fees unless added in your widget.

Mortgage Calculator – FAQs

We use standard amortization formulas. Real offers vary with fees, credit history, product type and rate changes. Always verify with a lender or broker.

APR includes certain costs to reflect the loan’s annual cost; the nominal interest rate may exclude them. Use APR for apples-to-apples comparisons.

This version focuses on principal and interest. If your widget supports taxes/insurance/PMI, enable those fields; otherwise add them manually.

Yes. Regular or one-off overpayments reduce the balance faster, cutting total interest and term. Check your lender’s overpayment rules and fees.

Fixed keeps payments stable for a set period. Variable/trackers can move up or down with the market. This calculator assumes a fixed monthly rate.

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What Our Clients Say About Tools

Overall Rating

5.0/5 3 reviews

Priya

This estimator feels like a mini financial advisor. It’s incredibly helpful for first-time buyers to understand their limits. The income-to-debt ratio logic is spot on.

Dhruv

This tool is a lifesaver for budgeting. It’s intuitive and gives a clear breakdown of monthly payments. I especially like the amortization summary—it’s great for planning long-term.

Rohan

Simple, fast, and accurate. The BMI Calculator gives instant results with clear health categorization. I appreciate the clean layout and mobile responsiveness—it’s perfect for quick checks on the go

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⚠️ All services are offered on an advisory basis only. We do not act as legal, immigration, or financial representatives, and we do not guarantee outcomes. Any actions or applications taken based on our guidance are the sole responsibility of the individual.