Mortgage Calculator
Calculate your monthly payment, total interest, and repayment plan
Instructions
Loan Amount: The total amount you need to borrow
Annual Interest Rate: The annualized rate provided by the bank
Loan Term: Total number of years for repayment
Down Payment: Amount paid upfront
Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]
Where: P = Principal, r = Monthly Interest Rate, n = Number of Payments
Common Interest Rate References
• First-home loan: 4.2% - 5.5%
• Second-home loan: 4.9% - 6.0%
• Commercial loan: 6.0% - 8.0%
• Provident fund loan: 3.1% - 3.6%