Mortgage calculator
Find out how much you will pay each month, how much interest the mortgage will cost and how much you need to save to buy your home.
Mortgage calculator: what it is and how it works
A mortgage is a long-term loan to buy a property, which serves as security. Most mortgages in Europe are repaid with the annuity (French) method: you pay the same amount every month and, at first, most of it is interest; over time each payment repays more principal.
This calculator estimates how much you need to borrow from the price, your savings and the buying costs, and works out the repayment with a fixed, variable (index plus margin) or mixed rate (a few fixed years, then variable). It also shows total interest, loan-to-value, the share of your income spent on the mortgage and a year-by-year amortisation schedule.
How to use it
- Enter the property price, your savings and the buying costs as a percentage.
- Choose the term and the interest type: fixed, variable or mixed.
- Check the repayment, the interest and how the balance falls in the schedule.
Payment = P × i ÷ (1 − (1 + i)^−n) · i = annual rate ÷ 12 ÷ 100, n = monthsWorked example
For a €250,000 home with €75,000 of savings and 10 % buying costs (€25,000), the mortgage is €200,000. Over 30 years at a fixed 2.6 %, the repayment is €800.68 a month and total interest is €88,244.59.
Frequently asked questions
How much will a bank lend me?
For a main residence, lenders typically finance up to 80 % of the purchase price or valuation, whichever is lower. The remaining 20 % and the buying costs must come from your savings.
Fixed or variable: which is better?
A fixed rate gives you a stable repayment for the whole term; a variable rate is often cheaper at first but moves with the index. A mixed mortgage combines a fixed period with a variable one.
What is the debt-to-income ratio?
It is the share of your net income spent on the repayment. Lenders usually want it to stay below 30–35 %.
What is the difference between the nominal rate and the APR?
The nominal rate is the interest charged on the loan; the APR also includes fees and linked costs, so it is better for comparing offers. This calculator uses the nominal rate.