Mortgage Calculator

Estimate your mortgage or home loan payment, understand ownership costs and explore how extra repayments could change your payoff date. Everything runs in your browser — nothing you type leaves your device.

How to use the Payments tab: choose a country profile (USA, UK, Canada, India), a display currency, and a loan input method — property price plus down payment (amount and percent stay synchronised) or loan amount directly. Enter the annual interest rate (0–25%), repayment duration (up to 35 years), first payment date, payment frequency, loan structure (repayment or interest-only) and upfront fees (cash or financed once). Press Calculate payment: the result shows the periodic principal-and-interest payment, total monthly housing budget, upfront cash needed, total interest, loan cash paid and the full repayment schedule with balance charts and CSV downloads.

Ownership costs and advanced settings: add property tax (annual amount or percent of price), homeowners insurance, monthly mortgage insurance with an optional end date, HOA or service charges, an annual maintenance reserve and other recurring housing costs — budgeted separately as billed charges versus reserves, never mixed into loan amortisation. Country scenarios cover the UK initial fixed-rate period with a subsequent rate, the Canadian contract-term renewal projection, and Indian monthly reducing-balance EMI. Dated rate changes are hypothetical scenarios you enter: after a change, recalculate the payment over the remaining term or keep the payment and let the duration move.

Extra repayments, compare, affordability and budget: the Extra Repayments tab models a recurring extra per period plus lump sums (with an optional prepayment charge) and compares interest saved, payments saved and the revised payoff date against the same loan without extras. The Compare tab places up to three loans side by side over a common horizon. The Affordability planner sizes a maximum loan and property price from take-home pay, debts, living costs and savings target. The Household Budget tab balances take-home income against housing and other expenses with a planned savings target.

Concepts: every repayment splits into principal (the amount borrowed) and interest (the lender’s charge) — early payments are mostly interest, later payments mostly principal. Amortisation is simplified periodic amortisation: interest is computed once per payment period on the outstanding balance, amounts are rounded to cents, and the final payment is adjusted to clear the balance exactly. Lenders that accrue interest daily may differ by small amounts — treat results as estimates, not lender statements. Interest-only payments never reduce the loan: the full principal (the balloon) remains due at the end. A larger down payment means a smaller loan and less total interest. Affordability here is a personal budget estimate — lenders run separate credit, income-verification and stress-rate checks.

Methodology and limits: USA, UK and India use a nominal annual rate convertible per payment period; Canada uses a nominal rate compounded semi-annually, converted as (1+i/2)^(2/m)−1. Verified October 2026 against primary sources (CFPB mortgage explainers, FCA mortgage guidance, Government of Canada/FCAC mortgage resources and the Interest Act s.6, RBI floating-rate guidance and NHB). Nothing is uploaded, stored, logged or shared — closing the tab removes everything.