Frequently asked questions
How the calculator works and what its numbers mean.
How is the monthly payment calculated?
We use the standard amortization formula: the payment is the fixed monthly amount that pays off the loan, with interest, by the end of the amortization period. The loan amount is the property price minus your contribution.
What does "compounding frequency" mean?
It is how often the lender adds interest to the balance when quoting the annual rate. A 5% rate compounded semi-annually costs slightly less than 5% compounded monthly. Semi-annual compounding is the default because it is common for fixed-rate mortgages in several countries. Check your loan offer to see which one your lender uses. Payments are always monthly.
What is the initial fixed-rate period?
Many mortgages fix the interest rate for the first few years and then renew at whatever rate applies at that time. The calculator shows how much interest and principal you pay during that fixed period, and how much you still owe when it ends. It can be any length up to the full amortization period.
Why do the "full amortization" totals have an asterisk?
Nobody knows what rate you will get after the fixed period ends, so those totals assume the rate stays the same for the whole loan. Treat them as a rough guide only.
What is "my contribution"?
The money you put in yourself, such as a down payment or deposit. It is subtracted from the property price to get the amount you borrow.
How does Compare work?
Click + Compare to add another option next to the first, filled in with the same values. Change whatever you want to compare, such as the rate or your contribution. Under each result you will see the difference from Option 1, in green when it is better and orange when it is worse. You can compare up to three options.
Does changing the currency convert the amounts?
No. The currency setting only changes the symbol and number format. Enter your amounts in the currency you choose.
Are fees, insurance or taxes included?
No. The results cover only principal and interest. Arrangement fees, insurance, property taxes and other costs are not included.
Do you store what I type?
No. Every calculation happens in your browser, and the numbers you enter are never sent to us or to advertisers. The site shows ads from Google, which uses cookies. See the privacy section for details.
Is this financial advice?
No. The results are estimates for illustration only. Your lender's figures may differ because of rounding, fees, or how they calculate interest. Speak to your lender or a qualified adviser before making a decision.