Mortgage Calculator
Monthly payment including tax and insurance, plus full amortisation.
Total monthly payment
1,719.44
Principal, interest, tax and insurance combined
Principal and interest
1,719.44
Monthly property tax
0.00
Monthly insurance
0.00
Loan amount
280,000.00
Loan-to-value ratio
80.0%
Total interest over the term
235,833.49
Monthly payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), plus tax and insurance divided by 12.
- Over 25 years you pay 235,833.49 in interest — 84% of the amount borrowed.
- Closing costs, stamp duty and legal fees are paid at purchase and are not part of the monthly figure.
| # | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 1,719.44 | 1,283.33 | 436.11 | 279,563.89 |
| 2 | 1,719.44 | 1,281.33 | 438.11 | 279,125.78 |
| 3 | 1,719.44 | 1,279.33 | 440.12 | 278,685.66 |
| 4 | 1,719.44 | 1,277.31 | 442.14 | 278,243.52 |
| 5 | 1,719.44 | 1,275.28 | 444.16 | 277,799.36 |
| 6 | 1,719.44 | 1,273.25 | 446.20 | 277,353.16 |
| 7 | 1,719.44 | 1,271.20 | 448.24 | 276,904.92 |
| 8 | 1,719.44 | 1,269.15 | 450.30 | 276,454.62 |
| 9 | 1,719.44 | 1,267.08 | 452.36 | 276,002.26 |
| 10 | 1,719.44 | 1,265.01 | 454.43 | 275,547.83 |
| 11 | 1,719.44 | 1,262.93 | 456.52 | 275,091.31 |
| 12 | 1,719.44 | 1,260.84 | 458.61 | 274,632.70 |
What does Mortgage Calculator do?
Calculate a mortgage payment from the property price, deposit, interest rate and term. Optional property tax and insurance are folded in to give the real monthly outgoing, and the amortisation schedule shows exactly when you cross into paying mostly principal.
How to Use Mortgage Calculator
- 1Enter the property priceThe purchase price you are budgeting for.
- 2Enter your depositAs a cash amount or a percentage.
- 3Set the rate and termThe annual interest rate and length in years.
- 4Add tax and insuranceOptional annual figures, converted to a monthly cost.
Key Features
- Principal and interest, plus optional property tax and insurance
- Deposit entered as an amount or a percentage of the price
- Loan-to-value ratio calculated automatically
- Full amortisation schedule with yearly summaries
- Total interest over the life of the loan shown up front
Frequently Asked Questions
What does PITI mean?
Principal, Interest, Taxes and Insurance — the four components of a typical monthly mortgage payment in the US. This calculator shows each part separately.
How much deposit do I need?
That is set by your lender and market, not by arithmetic. What the calculator shows is the effect: a larger deposit lowers the loan-to-value ratio, which usually unlocks a better rate and removes mortgage insurance requirements.
Why is the total interest almost as much as the house?
Because of the term. At 7% over 30 years you pay roughly 1.4 times the loan amount in interest. Cutting to 20 years raises the monthly payment by about 20% but cuts total interest by nearly 40%.
Does this include closing costs or stamp duty?
No. Those are one-off costs paid at purchase, not part of the monthly repayment. Budget for them separately — they typically run to a few percent of the price.
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