Work out the loan amount, monthly payment, loan-to-value and the outstanding balance after 10, 15 and 20 years from the purchase price, ancillary costs, equity and initial repayment.
| Year | Balance at year end | Interest | Principal |
|---|
The monthly payment is the first-year annuity and stays the same as long as the interest rate does not change. In practice the bank agrees a fixed-interest period (often 10, 15 or 20 years) and then sets a new rate for the remaining balance.
This mortgage calculator turns a purchase price into a financing figure you can actually compare. Enter the purchase price, the ancillary costs as a percentage (land transfer tax, notary, land registry and agent fees vary by country and state), your equity, the nominal interest rate and the initial repayment rate. The calculator adds the ancillary costs to the purchase price, subtracts your equity and reports the loan amount, the monthly annuity payment (interest plus initial repayment), the loan-to-value ratio and the interest share of the first instalment. The annual table then shows how the balance develops, and the outstanding debt is highlighted after 10, 15 and 20 years — the periods most fixed-interest agreements run for. It also reports the total interest until the loan is fully repaid and the complete cost including interest.