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.
⚠️ 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
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:
Bk = 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
What Our Clients Say About Tools
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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.
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.
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