Calculate monthly payment, total interest, APR and full amortization schedule.
For individuals and businesses. Every cost item explained in detail.
Amount, duration, rate and subject type (individual or business)
Payment, total interest, APR with all additional costs
Full amortization schedule, payment by payment
See how much you save by paying a little extra each month. Extra payments go directly toward reducing your principal balance, cutting both interest and loan duration.
Enter the alternative rate to compare both scenarios. The simulator also shows what happens if the variable rate rises or falls over time.
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Browse All Tools →A fixed-rate mortgage payment is calculated using the French amortization formula: Payment = P × (r × (1+r)n) / ((1+r)n - 1), where P is the principal, r the monthly rate and n the total number of payments. Each payment is constant: early on you pay more interest, later more principal.
The interest rate (nominal rate) is the pure rate charged on the loan. The APR (Annual Percentage Rate) includes all mandatory associated costs. The APR is always higher than the nominal rate and represents the true cost of the mortgage. Always compare APR when evaluating offers.
Origination: 0.5-1% of the loan. Appraisal: $300-800. Mortgage tax: varies by property type. Insurance: required, $500-2,000/year. Legal fees: $1,500-3,000+. All included in the APR calculation.
Fixed rate: constant payment, certainty and planning. Ideal when rates are low. Variable rate: starts lower but can fluctuate with market indices. Best when rates are high and expected to drop, or for shorter terms (5-10 years).
Homeowners: 5-30 years (some up to 40). Businesses: 5-20 years. Longer terms mean lower payments but more total interest. A 30-year mortgage costs nearly twice as much in interest as a 15-year mortgage.
Business mortgages typically have: higher rates (+0.5-1%), shorter terms, higher origination fees, additional guarantees required (personal guarantees, liens on business assets). On the upside, interest payments are tax-deductible as a business expense.
Almost always, yes. Even small extra payments ($100-200/month) can save thousands in interest and shorten your mortgage by years. The savings are greatest in the early years when the interest portion of each payment is highest. Extra payments go directly toward reducing your principal balance, which means less interest accrues on every subsequent payment. Use our early repayment simulator above to calculate your exact savings.
Use the "How much can I afford?" mode of our calculator. Enter the monthly payment you can comfortably afford, the interest rate and loan term: the tool will calculate your maximum mortgage amount and estimated property value (assuming 80% LTV). The general rule is that your mortgage payment should not exceed 30-35% of your net monthly income.
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