Mortgage Calculator: The Best Tool to Plan Your Monthly Payment

This Mortgage Calculator can help you calculate your mortgage payments and learn how to save thousands of dollars in interest costs by repaying your mortgage faster!

The best way to save on your mortgage starts here. Discover the value of property you can afford. See what it represents in terms of payments. Our mortgage calculator will help you easily see more clearly.That’s not all!The mortgage calculator can also show you how to save during the entire term of your mortgage.

This mortgage calculator determines your mortgage payments and generates a damping ratio of your mortgage. The mortgage calculator also evaluates how much money and years you can save by making prepayments.Includes refinance info.

Use the mortgage calculator now:

You have decided to take the plunge and embark on the real estate project that is close to your heart?

Whether or not this is your first purchase, finding the best financing is an essential step.

To achieve this, it is important to determine how you can repay your real estate loan: depending on the amount you wish to borrow, over how many years your loan will be spread out, what rate you will be able to obtain and what will be the monthly repayments of your real estate loan?

In order to facilitate this task of credit calculation, has created this home loan calculator to simulate your monthly payments.

Why calculate your monthly mortgage payments ?

You want to know the amount of your loan maturity? For that, you will have to carry out a simulation of monthly payments. This shows you the amount of your monthly payment (credit and mortgage insurance).

You have several reasons to calculate your monthly mortgage payments:

  • You will know the total cost of your real estate loan (interests and insurance)
  • Because this cost is not to be taken lightly. Your monthly loan payments depend on your debt ratio

The amount you can borrow is calculated on your income. To know your real estate purchasing power, you can calculate your borrowing capacity on Empruntis.

Use of the real estate loan calculator

This home loan calculator allows you to immediately calculate your monthly home loan payment.

By entering the desired loan amount, you get an estimate of the monthly loan payment to be repaid, the loan insurance, and the calculation of the cost of your loan over its total duration.

This loan calculation is based on an average interest rate over the desired term; depending on your project, you can refine your loan simulation with the rulers provided in this loan calculator.

You can change the duration of the loan between 7 and 30 years but also the real estate rate excluding insurance. The more the duration of the loan increases, the more the interest you pay back increases. Your monthly payments are reduced but the overall cost is higher.

To illustrate, here is an example with this real estate loan calculator. With a loan of 131 000 euros with an insurance at 0,36%, the monthly payments are :

Loan period 15 years 20 years 25 years 30 years
Monthly payment 847 € 677 € 585 € 554
Real estate loan rate 1.40% 1.60% 1.85% 2.45
Total cost of the loan 21 460 € 31 480 € 44 500 € 68 440 €

The insurance rate shown is the annual rate of the loan insurance, calculated according to the amount you wish to borrow. Its constant amount is added, within the monthly loan payment, to the repayment of the capital and the interests.

Which real estate rate for my project ?

The real estate loan rate is a key element for your credit calculation. It can vary according to the borrower’s profile (minimum rate granted to the best profiles or average rate) and the duration of the loan. A real estate loan broker negotiates for you the best interest rate with his banking partners. The real estate rate therefore determines your monthly real estate loan payment. In order to compare the best loan offers, the annual percentage rate of charge (APR) is an essential indicator. This includes the bank rate and the costs linked to the loan (file fees, insurance premiums, etc.)

But it is not the only element to take into account. The amount of the real estate loan insurance is also a determining factor. Indeed, depending on the borrower’s profile, it can represent more than 30% of the overall cost of the loan. For example: a loan of 150 000 euros taken out over 15 years at a real estate rate of 1.38% and a loan insurance rate of 0.41%. The global cost of the loan is 25 371,16 euros with 9 225 euros of insurance. His monthly payments will be 974.28 euros including 51.25 euros of mortgage insurance. In this case, the insurance represents 36% of the total cost of the loan.

Example of a calculation of a monthly payment of real estate loan

Mr and Mrs Robert borrow 253,000 euros over 20 years to buy their new house. The interest rate is 1,60%.

Monthly payment €1308
Of which monthly loan insurance payment 76 €.
Insurance rate 0,36
Total cost of loan insurance 60 920€.
Total cost of the loan 18 216€.

Make also the other calculations of real loan

In addition to this monthly mortgage payment calculator, you also have for example the possibility to visualize in 1 click with our real estate amortization table calculator the evolution of the proportion of capital and interests repaid. With this simulation you will know the remaining capital due, the amortized capital, the amount of interests and the cost of the insurance each year and this, on all the duration of the real loan. You can also view the monthly details of your amortization table.

One can also use the home loan calculator specific to the zero-interest loan which informs you about your rights associated with the loan you are considering, which will allow you to reduce the cost of your loan.

You also have the possibility to calculate the notary fees for this loan, according to the amount and the age of the property, in order to foresee the whole of your financing.

As mentioned above, you can calculate your real estate loan capacity by entering your income as well as that of your co-borrower. This step is crucial for your real estate acquisition project, whether you are buying a primary or secondary residence or a rental investment.

What to do after using this calculator ?

The use of this calculator has strengthened your desire to realize your desire to purchase? After your real estate loan calculation you want to launch a project? A real estate credit broker compares for you the offers of the banks in order to propose you the best rate of the market. This saves you time because you don’t need to go around to all the banks to get financing.

By comparing rates on Empruntis, you are contacted by an expert real estate loan broker. The latter negotiates the conditions of your real estate loan for you and follows up on your file.

Frequently Asked Questions

How do you calculate the monthly mortgage payments?

Simply enter the desired loan amount into the home loan calculator. To refine the calculation of the monthly payments, you can vary the duration and the rate of the real estate loan.

What are the other calculations for a home loan?

We offer you other free home loan calculators, for example

  • The amortization table, which allows you to visualize the amount of your monthly payments; it details the share of capital, interests and borrower’s insurance.
  • the PTZ simulation, which informs you about your eligibility for the scheme and the amount you can claim.
  • the calculation of the notary fees, according to the price and the old/new status of the property.
  • The loan capacity calculator, which evaluates the amount you can borrow.
  • And so on.

How to calculate my borrowing capacity ?

A calculator allows you to simulate your borrowing capacity. Enter your income and expenses in the calculator, specify whether you are buying a new or existing home and indicate the personal contribution you are considering. The calculator will then propose a monthly mortgage payment based on the data entered, indicating the amount to be borrowed as well as your purchasing capacity for this project. Varying the duration of the loan and the real estate rate allows you to refine the calculation.

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