Amortisation Calculator
Updated 13 November 2023
Our Calculator Makes The Numbers Clear
When you take out a mortgage, it is amortised over a fixed number of years in equal installments. Part of each payment goes toward the loan principal, and part goes toward interest. With mortgage amortisation, the amount going toward principal starts out small, and gradually grows larger month by month. Meanwhile, the amount going toward interest declines month by month for fixed-rate loans.
Our amortisation calculator shows exactly how much money you pay in principal and interest over time.
Simply insert:
When you take out a mortgage, it is amortised over a fixed number of years in equal installments. Part of each payment goes toward the loan principal, and part goes toward interest. With mortgage amortisation, the amount going toward principal starts out small, and gradually grows larger month by month. Meanwhile, the amount going toward interest declines month by month for fixed-rate loans.
Our amortisation calculator shows exactly how much money you pay in principal and interest over time.
Simply insert:
- Your Loan Amount (current mortgage balance), and
- The Term (how many years your mortgage is for), and
- The Interest Rate you pay, and
- The Start Date of your loan
Amortisation Calculator
464.84
Monthly Payment
Over 120 Payments
Total Interest
Pay-off Date
Amortisation Schedule
Yearly Amortisation
Monthly Amortisation
Important: Our calculations are based on the assumption that you make the same fixed mortgage repayment for the entire repayment period, the interest rate does not increase or decrease, you don't miss any repayment deadlines, overpay or underpay.
Ready to make your move? Our best mortgage rates guide has the latest home loan deals from the banks.
Video guidance: MoneyHub Founder Christopher Walsh explains how the calculator works in the video below:
Ready to make your move? Our best mortgage rates guide has the latest home loan deals from the banks.
Video guidance: MoneyHub Founder Christopher Walsh explains how the calculator works in the video below:
