Calculators
Loan & Mortgage Calculator
Work out your monthly payment, total interest, and a month-by-month amortization schedule. Add an extra monthly payment to see how much faster you pay it off.
| # | Date | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | May 2026 | €288.16 | €666.67 | €199,711.84 |
| 2 | Jun 2026 | €289.12 | €665.71 | €199,422.71 |
| 3 | Jul 2026 | €290.09 | €664.74 | €199,132.62 |
| 4 | Aug 2026 | €291.06 | €663.78 | €198,841.57 |
| 5 | Sep 2026 | €292.03 | €662.81 | €198,549.54 |
| 6 | Oct 2026 | €293.00 | €661.83 | €198,256.54 |
| 7 | Nov 2026 | €293.98 | €660.86 | €197,962.57 |
| 8 | Dec 2026 | €294.96 | €659.88 | €197,667.61 |
| 9 | Jan 2027 | €295.94 | €658.89 | €197,371.67 |
| 10 | Feb 2027 | €296.93 | €657.91 | €197,074.75 |
| 11 | Mar 2027 | €297.91 | €656.92 | €196,776.83 |
| 12 | Apr 2027 | €298.91 | €655.92 | €196,477.93 |
How loan payments are calculated
A loan is repaid with a fixed monthly payment. Each month, interest is charged on the balance you still owe, and the rest of the payment reduces that balance. The payment is set by the amortization formula so that the balance reaches exactly zero on the final month of the term.
M = P × r(1 + r)n / ((1 + r)n - 1)- M monthly payment
- P amount borrowed
- r monthly rate (annual rate / 12)
- n number of monthly payments
Principal is the amount you borrowed and still owe. Interest is what the lender charges for the loan, worked out on the remaining balance each month.
Because interest is charged on the balance, and the balance is highest at the start, your first payments are mostly interest. As the balance falls, the interest portion shrinks and more of each fixed payment goes toward the principal. That is why paying extra in the early years has the biggest effect on the total interest you pay.
Example monthly payments
Monthly payment for a fixed-rate loan over 30 years, principal and interest only. Property tax, insurance, and fees are not included.
| Loan amount | 3% / 30 yr | 4% / 30 yr | 5% / 30 yr |
|---|---|---|---|
| €100,000 | €422/mo | €477/mo | €537/mo |
| €200,000 | €843/mo | €955/mo | €1,074/mo |
| €300,000 | €1,265/mo | €1,432/mo | €1,610/mo |
Frequently asked questions
How is my monthly mortgage payment calculated?
Your payment is the fixed amount that clears the balance plus all interest over the full term. Each month, interest is charged on the outstanding balance first, and whatever is left of the payment reduces the balance. This principal and interest figure does not include property tax, insurance, or lender fees.
What happens if I make extra payments?
Any amount above the scheduled payment goes straight to the principal, so the next month's interest is charged on a smaller balance. That shortens the term and lowers the total interest you pay. Use the extra monthly payment field in the calculator above to see the effect on your own loan.
Should I choose a shorter or longer loan term?
A shorter term means higher monthly payments but far less total interest, because you borrow the money for less time. A longer term lowers the monthly payment but costs more overall. The right choice is the shortest term whose monthly payment you can comfortably afford.
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing the principal on its own. The APR (annual percentage rate) also folds in lender fees and certain closing costs, so it is usually a little higher and gives a fuller basis for comparing offers. This calculator uses the interest rate, not the APR.
How much can I save by paying off my loan early?
Paying early removes the future interest on the balance you clear, and the savings are largest in the early years when the balance is high. Even modest regular overpayments can save thousands over a 30 year loan. Enter an extra monthly amount in the calculator to see your total interest drop.