Mortgage Calculator — Monthly Payment Estimate
Enter the property price, your deposit, the interest rate and the term to see the monthly payment and the lifetime cost of the loan. Use it to test how much house fits your budget before you talk to a lender.
Mortgage Calculator
Monthly payments on a home loan
How it works
- Loan amount = property price − deposit.
- Results cover principal and interest; taxes and insurance are extra.
- A 1% rate rise on a 30-year loan can add hundreds per month.
- A larger deposit lowers both the monthly payment and usually the interest rate itself.
- Lenders commonly cap borrowing at roughly 4–5 times gross annual income.
Worked example: €320,000 home, €40,000 deposit, 4.1%, 30 years
- 1Loan: 320,000 − 40,000 = 280,000.
- 2Monthly rate: 4.1% ÷ 12 ≈ 0.3417% = 0.003417.
- 3Payment: 280,000 × 0.003417 ÷ (1 − 1.003417⁻³⁶⁰) ≈ 1,353.
≈ €1,353 per month · ≈ €207,000 total interest over 30 years
Monthly payment per €100,000 borrowed (30 years)
| Interest rate | Monthly payment | Total interest |
|---|---|---|
| 3.0% | €422 | €51,800 |
| 4.0% | €477 | €71,900 |
| 5.0% | €537 | €93,300 |
| 6.0% | €600 | €115,800 |
Annuity (fixed-payment) mortgage, principal and interest only, rounded.
Frequently asked questions
Does this include property tax and insurance?
No. The figure is principal and interest only. Add property tax, building insurance and any association fees to budget realistically.
How much can I borrow?
A common rule of thumb is 4 to 5 times your gross annual income, but lenders also weigh your debts, fixed costs and the property value. Use the calculator to see what monthly payment fits your budget.
Is a 15-year or 30-year mortgage better?
A 15-year term has a much higher monthly payment but saves a large amount of interest. A 30-year term is easier month to month; many people choose 30 years and make extra repayments when they can.
What happens when my fixed-rate period ends?
The loan usually moves to the lender's variable rate, which is often higher. That is the moment to re-run this calculator with current rates and consider refinancing.
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