Mortgage Calculator
Estimate your monthly repayment and total interest on a repayment (capital + interest) mortgage.
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per month
| Total repaid over term | — |
| Total interest paid | — |
Repayment (capital + interest) mortgage, fixed rate for the full term. Doesn't include fees, insurance, overpayments, or rate changes at the end of a fixed period.
- What formula does this use?
- The standard amortizing loan payment formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
- Interest-only vs repayment?
- This calculator assumes a repayment mortgage, where each payment covers interest plus a portion of the capital, so the balance reaches zero at the end of the term. An interest-only mortgage would have a lower monthly payment but never reduce the capital owed.