Mortgage calculator
Estimate the monthly payment, total interest cost, and the impact of borrower insurance for a mortgage, from the property price, your down payment, the rate, and the term. All calculation is done locally, without sending your figures to a server.
How it works
Before a meeting with the bank or to compare several mortgage offers, it's useful to quickly simulate the monthly payment for different down payment amounts or terms. This tool applies the fixed-payment amortization formula used by banks, and adds an estimate of borrower insurance, often calculated on the initial borrowed principal.
How is borrower insurance estimated?
By default, insurance is calculated by applying the stated annual rate (often between 0.10% and 0.50% of the borrowed principal depending on age and profile) directly to the borrowed amount, then divided by 12. In practice, some contracts calculate insurance on the outstanding principal rather than the initial principal, which would give a slightly lower total cost.
Should the rate shown be the APR or the nominal rate?
For a pure monthly payment estimate, use the nominal rate (rate excluding insurance and ancillary fees). The APR (annual percentage rate), which includes insurance and processing fees, gives a view of the total cost of the loan but would overestimate the monthly payment if used alone in this calculation.
This simulation stays entirely on your device: neither the property price nor your financial situation is sent to a server.