Mortgage Calculator

Tell us a few things about yourself, and this calculator will show you how much is your monthly payment and the total interest you will be paying.

debt calculator, retirement calculator, investing calculator, mortgage calculator

Disclaimer: All calculations are an estimate and should only be used as a reference and for entertainment purposes only. For all financial advice, you should approach a good financial or legal adviser, who can help you understand complex issues, diagnose potential problems and take steps to plan for the future.

Using this mortgage calculator

Simple Mortgage Calculator helps you to calculate how much you need to set aside for your home payment on a monthly basis so that you can plan ahead for your home purchase. You can be in control of your future! Plan Ahead Plan Your Future!

3 items to enter to get your results now:

  • Loan Amount
  • Interest Rate
  • Number of Months

We will help you calculate the monthly payment required for your mortgage loan so you can plan ahead and check your affordability for the new home purchase you are planning. 

Loan Amount

Here you will enter the total loan amount you will require for your home purchase.

Interest Rate

This is the interest rate your bank or lender is loaning you the money for. This field is Interest Rate Per Year.

If your interest rate is 7.5% per year please enter 7.5 in the field above

Note: For interest that is compounded on a monthly, quarterly, or any other time frame other than a yearly basis, this will not be accurate. This calculator is only for a loan that is compounded on a yearly basis.

Number of Months

This is the period your bank or lender is loaning you the money for. This field is the total number of months you borrow.

If your loan is 10 years please enter 120 in the field above

  • 10 years = 120 months 

Plan ahead, because your future is worth it!

Head over and try the calculator Now!

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Popular Questions

Why this mortgage calculator?

Simple | Real-time | Practical

The interest rate shows how much you need to pay in addition to your principal for buying that property. Higher the interest rate, the more extra money you need to pay to finance your monthly mortgage.

When the interest rate is low, it is a good option to take a longer loan, as it is considered “cheap” cash where you will have more “free cash” to perform investment at other assets which may help to bring in a higher return.

But if the interest rate is high, people usually take a shorter loan period so that they do not need to pay as much interest as a long loan period.