⚡ Quick Answer

A mortgage calculator helps you find your monthly home loan payment. Enter the home price, down payment, interest rate, and loan term. Monthly payment = (Loan Amount x Monthly Rate x (1+Rate)^Months) / ((1+Rate)^Months - 1). A $300,000 mortgage at 7% for 30 years = approximately $1,996 per month.

💰 Finance

🏠 Mortgage Calculator

Calculate your monthly mortgage payment, total interest, and full cost of buying a home. Works for any country and any currency. Know your numbers before you buy!

✏️ Enter Your Values

🏠 Home Price 💰 Down Payment

Enter amount OR percentage — we sync them automatically!

📈 Annual Interest Rate (%)

📅 Loan Term (years)

✨ Your Result

🦉Owl's Explanation

🏠

Fill in the values above and click Calculate ✨

🤔 How Does This Work?

The Mortgage Calculator uses the standard amortisation formula used by banks worldwide:

Monthly Payment = P x r x (1+r)^n / ((1+r)^n - 1)

P = Loan amount (home price minus down payment)
r = Monthly interest rate (annual rate / 12 / 100)
n = Total months (years x 12)

It also calculates your total repayment, total interest paid, and the percentage of the purchase price that goes to interest — so you understand the true cost of your home.

✅ Trusted Tool

The 365tool.net Mortgage Calculator uses the internationally standard amortisation formula trusted by banks and financial advisors worldwide. It is 100% free, requires no sign-up, and works for any currency in any country. Results are for guidance — always confirm with your lender.

📚 Related Article

🏠 How Mortgage Amortization Actually Works

Read Article →

❓ FAQ

What is a mortgage?▼

A mortgage is a loan from a bank or lender to help you buy a home. You pay it back in fixed monthly instalments over many years (usually 15 to 30 years). If you stop paying, the bank can take the home back.

How much deposit do I need for a mortgage?▼

Most banks require a down payment of 10% to 20% of the home price. A larger down payment means a smaller loan, lower monthly payments, and less total interest paid over the life of the loan.

What is the difference between a mortgage and a personal loan?▼

A mortgage is specifically for buying property and uses the property as collateral (security). It usually has lower interest rates and longer terms (15-30 years) than personal loans. Personal loans are unsecured and have higher rates.

How does interest rate affect my mortgage payment?▼

Even a small change in interest rate makes a big difference. On a 20-year mortgage of 10 million rupees: at 8% your monthly payment is about 83,644 LKR. At 10% it jumps to 96,502 LKR — that is 12,858 LKR more every month!

What is amortisation?▼

Amortisation is how your mortgage payments are structured. In early years, most of your payment goes toward interest. In later years, more goes toward the principal (actual loan amount). Our calculator shows your total interest vs principal breakdown.

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