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Mortgage calculator

Calculate a home loan’s monthly payment with down payment, interest rate and fees, plus an annual repayment table splitting principal and interest.

Required fields are marked with an asterisk (*).

The total price of the home or property you plan to buy.
The amount you pay from your own pocket upfront, deducted from the price to set the loan amount.
The annual interest rate on the mortgage; enter 0 for a zero-interest loan.
How long you will take to repay the loan, in the chosen unit.
Term unit
Choose whether the term is measured in months or years.
Arrangement fees and administrative charges you want included in the total cost (optional).
The currency used to display the results.

Before buying a home with a mortgage, it helps to know what your monthly payment will be and what the loan really costs over the years. Enter the property price, down payment, interest rate, term and fees to get the actual loan amount, monthly payment, total interest, and an annual repayment table splitting principal, interest and remaining balance.

Formula

The monthly payment uses the standard fixed-rate annuity formula: payment = outstanding balance × monthly rate × (1 + monthly rate)^months ÷ ((1 + monthly rate)^months − 1).

When is this useful?

Use this calculator when you are thinking of buying a home or comparing mortgage offers, so you can estimate the monthly payment, actual loan amount and total cost before signing any agreement.

Worked example

Example using the calculator’s values: a 200,000 Jordanian dinar property with a 40,000 dinar down payment.
An interest rate of 5% per year over 20 years, with 1,000 dinars in fees.
The loan amount is 160,000 dinars, and the monthly payment is about 1,056 dinars.
Total interest is about 93,416 dinars, and the effective total cost about 294,416 dinars.

Assumptions

  • The interest rate is fixed for the whole loan term.
  • Payments are made monthly and on time, with no extra or missed payments.
  • The down payment and fees are added to the effective total cost.
  • Insurance, late fees or early-repayment charges are not included unless entered as fees.
  • Results are estimates and do not account for exchange-rate changes or local regulations.

Common mistakes

  • Forgetting to subtract the down payment from the property price when working out the actual loan amount.
  • Confusing the monthly and annual interest rate: enter the annual rate as it is, without dividing it.
  • Comparing mortgage offers by monthly payment alone, ignoring the term and total cost.
  • Assuming the payment stays fixed even on a variable-rate loan.
  • Ignoring fees when calculating the full cost of the financing.

Frequently asked questions

What is included in the monthly payment?

The payment covers the principal and interest shares only, based on the term and rate. It does not include insurance or monthly charges unless you add them to the fees.

What if the interest rate is variable?

This calculator assumes a fixed rate. If your rate is variable, use an estimated rate and be aware that payments may change over time.

How is the effective total cost calculated?

It is the sum of all monthly payments over the term plus the down payment and fees.

Does the table show the real balance?

The table shows an approximate balance for each year based on the entered rate and term. It may differ slightly from your lender’s statement because of rounding and actual fees.

Methodology and review

The calculator uses the standard fixed-rate annuity formula with monthly accounting and a year-by-year balance schedule. Results are approximate and for general planning. Rules and fees vary by country and lender, so always check the contract terms and official bodies before deciding.

Results are estimates for informational purposes only and do not constitute financial advice or a lending offer.

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