Mortgage calculator
Estimate your payment the way lenders in your country calculate it: 21 countries, each with its local currency, interest rules, repayment types and insurance or fees.
Monthly payment
$2,292.11
Principal and interest on $336,000.00 at 7.25% over 30 years, per month.
- Loan amount
- $336,000.00
- Down payment
- $84,000.00
- Total interest
- $489,160.43
- Paid off
- —
Uses the note rate ÷ 12 on the balance each month, as the standard US fixed-rate note does.
Payment breakdown
- Principal and interest$2,292.11
- Principal
- Interest
| Year | Total payment | Interest | Principal | Balance |
|---|---|---|---|---|
| Year 1 | $27,505.35 | $24,253.35 | $3,252.00 | $332,748.00 |
| Year 2 | $27,505.35 | $24,009.58 | $3,495.76 | $329,252.24 |
| Year 3 | $27,505.35 | $23,747.55 | $3,757.80 | $325,494.44 |
| Year 4 | $27,505.35 | $23,465.87 | $4,039.48 | $321,454.96 |
| Year 5 | $27,505.35 | $23,163.08 | $4,342.27 | $317,112.69 |
| Year 6 | $27,505.35 | $22,837.59 | $4,667.76 | $312,444.93 |
| Year 7 | $27,505.35 | $22,487.70 | $5,017.65 | $307,427.29 |
| Year 8 | $27,505.35 | $22,111.59 | $5,393.76 | $302,033.53 |
| Year 9 | $27,505.35 | $21,707.28 | $5,798.07 | $296,235.46 |
| Year 10 | $27,505.35 | $21,272.67 | $6,232.68 | $290,002.78 |
How the payment is calculated in the United States
Each month, a US fixed-rate mortgage charges interest at the yearly note rate ÷ 12 on the unpaid balance, and the payment stays the same for the whole term. Payments are monthly. A qualified mortgage lasts at most 30 years and cannot have interest-only periods or a balloon payment. Private mortgage insurance, when your lender requires it, is added to the monthly payment until the balance is scheduled to reach 78% of the home’s original value.
For equal payments, the calculator uses the annuity formula: payment = loan × i ÷ (1 − (1 + i)^−n), where i is the interest rate for one payment period and n is the number of payments. Each payment first covers that period’s interest, and the rest reduces the balance.
Sources: Fannie Mae and Freddie Mac fixed-rate note (Form 3200), Fannie Mae Servicing Guide F-1-09, Consumer Financial Protection Bureau.
What goes into the payment
The headline figure is the principal and interest you pay the lender each period. Tick Include running costs to add the property costs you enter: yearly and quarterly amounts are converted to the payment period and added to the total. One-off costs, such as an insurance premium or guarantee fee paid up front, appear in the breakdown but not in the regular payment. Purchase taxes and closing costs are not included.
In the United States they are property tax, homeowners insurance and HOA fees. Lenders often collect tax and insurance with the payment through an escrow account. Private mortgage insurance is added when it applies.
How mortgages differ between countries
Most of the 21 countries here apply the yearly rate ÷ 12 to the balance each month. Canada compounds fixed rates twice a year, Belgian law converts the yearly rate to an equivalent monthly rate, Swiss lenders charge simple interest each quarter, Danish mortgage-credit loans follow quarterly bond payments, and some Austrian and Finnish loans count actual days ÷ 360. Lenders in Australia, New Zealand and the UK calculate interest daily.
The equal-payment annuity is standard almost everywhere. Sweden usually repays a fixed share of the original loan each year, so payments fall over time, and Belgium, the Netherlands, Norway, Finland, Iceland and New Zealand also offer equal-principal loans. In Germany you choose the first year’s repayment rate and the loan length follows. Swiss loans only need to be repaid down to two thirds of the property’s value, and Icelandic indexed loans have a balance that rises with inflation.
Monthly payments are the norm. Canada offers six schedules, including accelerated bi-weekly and weekly payments; Australia and New Zealand allow weekly and fortnightly payments; Sweden, Denmark and Italy allow quarterly payments, Italy also half-yearly; and Swiss interest is due each quarter.
In the United States, France, Italy and Spain the rate often lasts for the whole loan. Elsewhere it is usually fixed for a shorter period, such as a term of 5 years or less in Canada or 10 years in the Netherlands, and then reset; the calculator shows the balance when that period ends.
Mortgage insurance paid by the borrower is rare outside North America and Australia. US lenders may require monthly PMI with less than 20% down; Canadian and Australian buyers with a smaller deposit pay a one-off premium; New Zealand banks add a margin to the rate; the Dutch NHG and the Finnish state guarantee charge a one-off fee; and Danish mortgage-credit loans carry an ongoing contribution fee.
Outside the United States, property tax is never a percentage of the purchase price. It depends on a band, an assessed or cadastral value or a local rate, so the calculator asks for the yearly amount in every country.
Frequently asked questions
How is a mortgage payment calculated?
For equal payments, the payment is loan × i ÷ (1 − (1 + i)^−n), where i is the interest rate for one period and n the number of payments; in most countries i is the yearly rate ÷ 12. Each payment covers that period’s interest first, and the rest reduces the balance. A $320,000 loan at 6.5% over 30 years, for example, costs $2,022.62 a month and $408,142.36 in interest over the whole loan.
Does a mortgage payment include taxes and insurance?
The lender’s payment is principal and interest. In the United States, lenders often collect property tax and homeowners insurance with it through an escrow account, so the monthly bill covers both. Tick Include running costs and enter yearly amounts to see them in the payment here.
What is PMI, and when does it stop?
Private mortgage insurance protects a US lender when the down payment is under 20%. You pay it with the monthly payment. It must end automatically when the balance is scheduled to reach 78% of the home’s original value, you can ask to cancel it from 80% if conditions are met, and it ends after the middle of the loan term at the latest. There is no official rate table, so enter the rate your lender quotes.
Which rate do I enter: the interest rate or the APR?
Enter the yearly interest rate in your loan offer, also called the note rate, nominal rate or Sollzins. The APR, or APRC in Europe, adds fees and other costs to the interest rate so that offers can be compared; it is not used to work out the payment.
How much is a 15-year mortgage payment compared with a 30-year one?
A shorter term means a higher payment but much less interest. At 6.60%, the US average 15-year rate in the week of 1 October 2026, a $300,000 loan over 15 years costs $2,629.84 a month and $173,371.64 in interest. Over 30 years at the same rate, the payment is about $1,916 a month and the interest about $389,750.
How do extra payments change a mortgage?
Extra payments go straight to the balance, so less interest builds up and the loan ends sooner while the regular payment stays the same. Adding $200 a month to a $320,000 loan at 6.5% over 30 years ends it after 281 payments instead of 360 and saves $105,428.67 in interest. Some contracts limit free overpayments; in Germany, many allow 5% to 10% of the loan a year.
Can I use this mortgage calculator outside the US?
Yes. It covers 21 countries in North America, Europe and the Asia-Pacific region; the Country field lists them all. Choosing a country sets the currency, the local terms, how interest is charged, the payment frequencies and repayment types lenders there offer, and any mortgage insurance or fee.
Why is the result for some countries labelled an estimate?
Where no law fixes how lenders turn the yearly rate into a payment, the calculator uses a method it could check against a lender, a regulator or a consumer body, and labels the result an estimate. Lenders in the same country can differ by a few cents to about 0.5% of the payment, for example because they count interest daily. Your loan offer shows the exact figure.