Financial Tool
Mortgage Calculator
Calculate your monthly payment, total interest, and full amortization schedule.
How does a mortgage work?
A mortgage is a loan secured against a property. You borrow a principal
from a lender and repay it through fixed monthly installments over an agreed
term. Each payment covers two components: interest charged on the
outstanding balance, and principal repayment that reduces the debt.
In the early years, most of each payment goes toward interest. As the balance shrinks,
the interest share falls and the principal share grows — this is called
amortization. Understanding the full schedule helps you evaluate
overpayment strategies, refinancing decisions,
and the true long-term cost of borrowing.
M = P × i(1+i)n ÷ [(1+i)n−1]
M monthly payment
P loan principal
i monthly rate (r/12)
n total payments
🏦 Down paymentA larger deposit reduces your principal, lowers your monthly payment, and may unlock better rates.
📅 Term lengthA shorter term means higher monthly payments but far less total interest paid over the life of the loan.
💡 OverpaymentsEven small extra monthly payments reduce the balance faster and cut total interest significantly.
Parameters
€
€
20.0% of property price
%
€
Optional overpayment each month.
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Mortgage Summary
Monthly payment
—
Total interest
—
Total cost
—
Loan principal
—
Interest / principal
—
Loan paid off
—
Principal
—
Total interest
—
Principal repaid
Interest paid
| Year | Opening balance | Principal (period) | Interest (period) | Closing balance | Cumul. interest |
|---|