Mortgage Calculator

How it works

1. Enter loan amount. 2. Annual rate %. 3. Duration in years. 4. Calculate.

When to use it

The mortgage calculator is essential for:

• First home: calculate monthly mortgage payments before visiting the bank, to understand what you can afford.
• Comparing offers: quickly compare different mortgage proposals by varying rate, duration and amount.
• Financial planning: assess the mortgage impact on your monthly budget before committing.
• Renegotiation: simulate renegotiated mortgage conditions to verify actual savings.
• Real estate investment: calculate mortgage costs to assess the profitability of property investments.

Advantages

Detailed amortization schedule. Shows principal, interest and remaining balance for each payment.

Benefits vs alternatives

Advantages over bank calculators:

• Impartial: we're not a bank, so we provide neutral calculations without pushing specific products.
• Complete detail: shows monthly payment, total interest paid and total mortgage cost.
• No data required: we don't ask for email, phone or personal data to show results.
• Quick comparison: modify parameters and get new results instantly.
• Mobile accessible: calculate anywhere, from your phone, without downloading banking apps.

Common mistakes to avoid

1. Fixed vs variable rate: the calculator uses a fixed rate. A variable rate mortgage will have payments that change over time.
2. Ignored ancillary costs: the calculator doesn't include appraisal fees, notary fees and mandatory insurance that increase the real cost.
3. Loan amount vs property value: banks usually lend up to 80% of property value. The mortgage amount is not the house price.
4. Not considering inflation: in a 30-year mortgage, inflation reduces the real value of future payments. A 3% rate with 2% inflation equals about 1% real.

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