Mortgage Repayment Calculator: Monthly Payment Guide

Calculate your estimated monthly mortgage repayment based on your loan amount, annual interest rate, and repayment term. This calculator helps you understand your expected payment, total interest, and overall repayment cost so you can plan your housing budget more confidently.

Enter the amount you plan to borrow, your annual mortgage interest rate, and the repayment period in years. Select Calculate Payment to see your estimated monthly payment, total amount repaid, and total interest over the loan term.

For a useful estimate, enter a realistic interest rate and repayment period based on the mortgage offer or scenario you are considering. You can adjust the figures to compare different borrowing amounts and terms.

Your monthly principal and interest payment depends mainly on three factors: the amount borrowed, the interest rate, and the repayment term. A larger loan or higher interest rate generally increases your payment, while a longer repayment term usually reduces the monthly amount.

However, extending the term can increase the total interest paid because you repay the loan over more months. Compare both the monthly payment and total borrowing cost before deciding what is affordable.

The total repayment is the sum of your scheduled monthly principal and interest payments over the selected term. Total interest is the amount paid above the original loan principal under the calculator’s assumptions.

For example, a lower monthly payment may appear attractive, but it could result from a longer repayment term and a higher lifetime interest cost. Reviewing both figures helps you balance your monthly budget against the long-term cost of borrowing.

Try changing the interest rate, loan amount, or repayment term to see how each affects your estimated payment. Before choosing a mortgage, remember that the payment shown here does not include every cost associated with homeownership.

Use our Mortgage Payment Calculator for another view of your regular payment, or explore the Mortgage Amortization Calculator to understand how principal and interest are distributed over time.

Important note: This calculator estimates payments for a fully amortizing loan with a fixed annual interest rate and regular monthly payments. It assumes the rate remains unchanged throughout the selected term. Property taxes, homeowners insurance, mortgage insurance, lender fees, and other housing costs are excluded, so your actual monthly housing expense may be higher. Use the result for planning, and confirm payment details with your lender.