Mortgage Calculators
Mortgage Payment Calculator
This is the pared-back version of the mortgage calculator: loan amount, rate and term, with no escrow items attached.
Monthly payment
$1,970.30
- Total interest
- $389,306
- Total repaid
- $709,306
- Interest
- Principal
Mortgage schedule — yearly
| Year | Interest paid | Principal paid | Balance remaining |
|---|---|---|---|
| 1 | $19,894 | $3,750 | $316,250 |
| 2 | $19,653 | $3,991 | $312,259 |
| 3 | $19,396 | $4,248 | $308,012 |
| 4 | $19,123 | $4,521 | $303,491 |
| 5 | $18,832 | $4,812 | $298,679 |
| 6 | $18,522 | $5,121 | $293,558 |
| 7 | $18,193 | $5,451 | $288,107 |
| 8 | $17,842 | $5,801 | $282,306 |
| 9 | $17,469 | $6,174 | $276,132 |
| 10 | $17,072 | $6,571 | $269,561 |
How this calculator works
M = P × r ÷ (1 − (1 + r)^−n)
- P
- the amount borrowed
- r
- the monthly interest rate (annual rate ÷ 12)
- n
- the number of monthly payments
Important considerations
- Property tax, insurance and mortgage insurance are excluded — use the full mortgage calculator for a total monthly cost.
- Variable-rate loans only hold this payment until the rate resets.
Related calculators
- Mortgage CalculatorEstimate your total monthly mortgage payment and see the amortisation schedule.
- Amortization CalculatorFull interest and principal schedule for any loan.
- Mortgage Affordability CalculatorHow much house your income and debts realistically support.
- Mortgage Refinance CalculatorMonthly saving and break-even point on a refinance.
- Down Payment CalculatorDeposit required, loan needed and time to save it.
- Interest-Only Mortgage CalculatorPayments before and after an interest-only period ends.
Learn more
Fixed vs. Variable Mortgage Rates: A Side-by-Side Comparison
How rate structure affects monthly payments, total interest, and the risk you carry over a full loan term.
When Refinancing a Mortgage Changes Your Total Cost
How break fees, remaining term, and the new rate combine to decide whether refinancing saves anything.
Home Loan Deposits and Loan-to-Value Bands, Explained
What a deposit changes about pricing, and why lenders group applications into LTV bands.
Terms used here
Frequently asked questions
Is this the same as my lender's quote?
Close, but lenders add fees, use their own day-count conventions and may round differently. Treat it as an estimate.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01