Mortgage Calculator - Monthly Payment and Total Loan Cost

Indicative fixed-rate simulation, excluding arrangement, guarantee and broker fees. Only your lender's loan offer is binding.

How to use this calculator?

1. Enter the amount you want to borrow
2. Enter the loan term in years
3. Enter the annual nominal interest rate offered
4. Optionally add the loan insurance rate to see the total cost

Quick answer

How do you calculate a monthly mortgage payment?

Use the formula M = P × r ÷ (1 - (1 + r)^-n), where P is the amount borrowed, r the annual rate divided by 12 and n the number of months. Example: €200,000 over 20 years at 3.5% gives a monthly payment of about €1,159.92 excluding insurance, with €78,380.66 of interest in total.

Term (years)Monthly payment (€200,000 at 3.5%)Total interest
10€1,977.72€37,326.08
15€1,429.77€57,357.71
20€1,159.92€78,380.66
25€1,001.25€100,374.14

About the Mortgage Calculator

What is it?

This mortgage calculator works out the monthly payment of a fixed-rate loan from the amount borrowed, the term and the nominal rate. It also adds loan insurance, the total cost of credit and a year-by-year amortization schedule.

Why use it?

Before viewing properties or meeting a lender, it helps to know which monthly payment fits your project and how much the loan will really cost. Comparing several terms or rates shows how a few tenths of a point change the total cost. The amortization schedule also shows that early payments go mostly towards interest.

How does it work?

The monthly payment uses the standard amortization formula: M = P × r ÷ (1 - (1 + r)^-n), where P is the principal, r the monthly rate (annual rate ÷ 12) and n the number of payments. If the rate is zero, M = P ÷ n. Insurance is based on the initial principal: P × insurance rate ÷ 12 per month. Total cost of credit = interest + insurance.

Usage tips

  • A longer term lowers the monthly payment but significantly increases total interest
  • Compare offers using the APR, which includes interest, insurance and mandatory fees
  • Shopping around for loan insurance can noticeably reduce its cost
  • Arrangement, guarantee and legal fees are not included in this simulation, so add them to your budget
  • A larger down payment reduces the amount borrowed and therefore the cost of credit
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