Mortgage Calculator
Estimate monthly mortgage payments, total repayment, and interest cost.
Mortgage Calculator
Estimate monthly mortgage payments, total repayment, and interest cost.
About this mortgage calculator
The mortgage calculator estimates the regular repayment on a home loan from three inputs: the loan amount, the annual interest rate, and the loan term in years. It applies the standard amortising-loan formula, so the figure it returns is the level payment that would clear the balance, with interest, over the full term.
Alongside the periodic payment it shows the total amount repaid and the total interest cost across the life of the loan, which is often the more revealing number. Use it to see how a different rate, a larger deposit, or a shorter term changes both the monthly outlay and the lifetime interest before you talk to a lender.
Common uses
- Estimate the monthly repayment on a new home loan before committing to a property price or deposit.
- Compare a 25-year and a 30-year term to see how much extra interest the longer loan adds.
- Test how a half-percent rate change moves the payment when weighing up lender offers.
- Add an extra monthly payment to see how much sooner the loan is paid off and how much interest you save.
Helpful tips
- Enter the interest rate as the annual rate; the calculator converts it to a monthly rate internally.
- The estimate covers principal and interest only, not rates, insurance, strata, or lender fees.
- Shorten the term or raise the repayment to watch how quickly the total interest cost falls.
How to use Mortgage Calculator
- Enter the amounts, dates, rates, or assumptions needed for Mortgage Calculator.
- Check units, currency, tax rate, interest rate, date range, and rounding assumptions before calculating.
- Run the calculator and compare the result against your source values or a second scenario when planning matters.
- Adjust one input at a time to understand how the estimate changes.
- Use the result as a practical estimate, then confirm important financial, tax, health, or legal decisions with a qualified source.
Frequently asked questions
How is the monthly mortgage payment calculated?
It uses the standard amortising formula based on the loan amount, the monthly interest rate (the annual rate divided by 12), and the number of monthly payments in the term.
Does the estimate include taxes, insurance, and fees?
No. The result is the principal-and-interest repayment only. Property taxes, insurance, and lender or account fees are extra and vary by location and product.
Is Mortgage Calculator free, and does it work on mobile?
Yes. Mortgage Calculator is free to use on JustBloc with no account or installation, and the page is designed to work on desktop, tablet, and mobile browsers.