Explore what you can buy, what you'll pay and how different mortgage choices affect your budget.
≈ 20.5% of the purchase price
$58,000 down payment + $225,461 estimated loan
Estimate based on your inputs — not a lending approval
Principal and interest only. Turn on other housing costs to add taxes and insurance.
Estimates only. We are not liable for the data.
This calculator is for general information only and is not financial, investment, legal or tax advice, nor an offer, pre-approval or commitment to lend. Its results are illustrative, rely on the figures you enter and simplified assumptions, and may be inaccurate, incomplete or out of date; actual rates, fees, taxes, insurance and lender terms will differ. We give no warranty, express or implied, as to their accuracy or completeness and, to the fullest extent permitted by law, accept no liability for any loss or damage arising from their use or from reliance on them. Speak to a qualified financial adviser or lender before making any financial decision.
Full terms:
The property price, your down payment, the monthly payment and the loan are tied together by the interest rate and the mortgage term: know two of them and the rest follows. Pick the question you want answered, enter the figures you know, then set the rate and the term. The answer updates as you type.
Enter the monthly mortgage payment you can carry and the cash you have for a down payment. The calculator works out the largest loan that payment repays at your rate and term, then adds your down payment to give your property budget.
Enter the property price and your down payment. The calculator finances the rest and shows the monthly principal and interest that repays it over your term.
Enter the property price and the monthly payment you're comfortable with. The calculator works out how much that payment can borrow and shows the cash you need to cover the rest.
Enter the property price and your down payment to see the loan you need, its share of the price (loan-to-value) and what it costs each month.
Four things move the answer. Change them in the calculator above to see by how much.
The higher the rate, the less of each payment goes towards the loan itself. With rates between 5% and 8%, each extra percentage point cuts what the same monthly payment can borrow over 30 years by roughly 10%.
A longer term lowers the monthly payment, but you pay interest for longer. Compare 15 and 30 years and watch the lifetime mortgage cost to see the trade-off.
Everything you put down is money you don't borrow, so it lowers both the monthly payment and the total interest. Many lenders also offer better terms once the loan is 80% of the price or less.
Property taxes and home insurance come on top of the mortgage. Turn on other housing costs to add them to your monthly total. Fees, maintenance and mortgage insurance are not included.
It depends on the monthly payment you can carry, the cash you can put down, the interest rate and the term. Lenders usually cap your monthly debt repayments at around a third of your income, though the exact limit, and whether it is measured on gross or net income, varies by lender and country. Start from a payment you're comfortable with: enter it as your monthly mortgage budget and the calculator shows the price it supports.
Not by default: the mortgage payment is principal and interest only. Turn on other housing costs to add estimated property taxes and home insurance to your monthly total. Fees, maintenance and mortgage insurance are not included.
As a standard fixed-rate loan: the same payment every month, with the interest part shrinking and the principal part growing as the balance is repaid. The payment is M = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is the loan amount, r the monthly interest rate (the annual rate ÷ 12) and n the number of monthly payments.
Loan-to-value is the loan divided by the property price: a 240,000 loan on a 300,000 home is an 80% LTV. The lower it is, the less the lender risks, which often means a better rate.
No. The results are estimates based on the figures you enter, not an offer or a commitment to lend. A lender will also look at your income, credit history, existing debts and the property itself.
Yes. It's free, there's no sign-up, and nothing you enter is saved.
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