Mortgage Calculator
Estimate the monthly payment on a repayment mortgage after your deposit.
How a mortgage payment is calculated
The amount borrowed is the home price minus your deposit. The monthly payment then uses the standard amortising-loan formula:
M = P · r · (1+r)^n / ((1+r)^n − 1)
with P the loan amount, r the monthly rate and n the number of monthly payments (years × 12).
Worked example
A $300,000 home with a $60,000 deposit means borrowing $240,000. At 5.5% over 25 years the payment is about $1,474 a month, repaying roughly $442,000 in total.
FAQ
Does this include property tax or insurance?
No — it shows principal and interest only. Add taxes, insurance and any fees separately.