Mortgage Calculator (Years and Months )

Mortgage calculator is a simple tool that helps you estimate the cost of your mortgage. After you put in just a few digits our mortgage calculator will tell you what your monthly payment and total payments will be.

 

Be advised that the calculator provides you with just an illustration and does not include all the details and costs the banks charge when giving a loan.

Formula

Payments = Mortgage Amount*((Interest Rate/Repayment Frequency/100)*((1+(Interest Rate/Repayment Frequency/100)))^(Mortgage Period*Repayment Frequency))/(((1+(Interest Rate/Repayment Frequency/100))^(Mortgage Period*Repayment Frequency))-1)

Total Cost of Mortgage = (Mortgage Amount*((Interest Rate/Repayment Frequency/100)*((1+(Interest Rate/Repayment Frequency/100)))^(Mortgage Period*Repayment Frequency))/(((1+(Interest Rate/Repayment Frequency/100))^(Mortgage Period*Repayment Frequency))-1))*Mortgage Period*Repayment Frequency

Total Interest Paid = Total Cost of Mortgage-Mortgage Amount