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Mortgage calculator

The bank payment is only part of owning a home. See the cash you need on day one and the real monthly cost.

Notary, taxes, valuation, agency and bank fees, paid in cash
Insurance, property tax, building fees, maintenance reserve

Real monthly cost

Bank payment
Monthly extras
You borrow
Loan-to-value
Cash needed upfront
Interest over the term

YearInterestLoan repaidStill owed
My money plan

Next step: Plan how to save the cash you need upfront: Savings goal calculator →

How to use the calculator

  1. Enter the Home price.
  2. Set the Down payment as a % of the price. Many lenders in Europe expect 15–25%; the rules differ by country.
  3. Enter the Interest rate per year and the Term in years from the offer you're considering.
  4. Set Buying costs: notary, taxes, valuation, agency and bank fees, as a % of the price. They're paid in cash on top of the down payment.
  5. Add Monthly extras: home insurance, property tax, building fees and a maintenance reserve. This is what turns a payment into the real cost of owning.
  6. Read the monthly payment, the total monthly cost, the cash you need upfront and the interest over the whole term. The table shows how the balance falls each year.

What it's good for

  • Shows the cash you need on day one, which is often the real obstacle.
  • Shows the total monthly cost of owning, not only the bank payment.
  • Makes the effect of a few tenths of a percent in rate visible over 25–30 years.

Where it falls short

  • Assumes a fixed rate for the whole term; many European mortgages are variable or fixed only for some years.
  • Buying costs and taxes depend on your country and are entered as one rough %.
  • It doesn't tell you whether buying beats renting, or what a lender will actually approve.
  • House prices can fall. A home is a place to live first and an investment second.

How it's calculated

Formula. Loan = price − down payment. Monthly payment uses the same formula as the loan calculator. Monthly cost = payment + the monthly extras you enter. Cash needed upfront = down payment + buying costs.

Worked example. A 250,000 home with 20% down, 5% for 30 years: you borrow 200,000 (LTV 80%), pay 1,073.64 a month, plus 200 of extras = 1,273.64. With 4% buying costs you need 60,000 upfront, and pay 186,513 interest over the term.

Assumptions.

  • Fixed rate for the whole term. Many European mortgages are variable or fixed only for a few years.
  • Buying costs (notary, taxes, valuation, agency) are entered as one % of the price; check the real amounts in your country.
  • Maintenance isn't included unless you add it to the monthly extras.

Formula checked 2026-10-23 and covered by automated tests. See the editorial policy and methodology.

The three numbers that matter

  • Cash needed upfront. Down payment plus buying costs. Buying costs are easy to forget and can be several percent of the price.
  • Real monthly cost. The payment plus insurance, property tax, building fees and maintenance. Compare this, not the payment, with your current rent.
  • Loan-to-value (LTV). The loan as a % of the home's value. Lower LTV usually means a better rate and less risk if prices fall.

Fixed, variable, or fixed for a while

In much of Europe, mortgages are variable or fixed only for the first few years, after which the rate resets. This calculator uses one rate for the whole term. To stress-test, raise the rate by 2–3 points and check the real monthly cost still fits your budget. If it doesn't, the home is a stretch even if the bank approves it.

Before you buy

  • Keep your emergency fund separate from the down payment. New homeowners meet surprise repairs quickly.
  • Clear expensive debt first. It also improves what lenders will offer you.
  • Plan to stay several years. Buying and selling costs are large; owning for a short time often costs more than renting.
  • Get the real buying costs for your country from a notary or the lender, and replace the rough % here.

Questions

How much can I borrow?
That depends on your lender and country: most limit the payment to a share of your net income and the loan to a share of the home's value. This calculator shows what a loan costs, not what a bank will approve.
Should I choose a shorter term?
A shorter term means higher payments but much less interest. Compare 25 and 30 years above. Only choose the shorter one if the higher payment still leaves room for saving.
Is a home a good investment?
It's a place to live first. Prices can fall, money is tied up, and costs are high. It can still be a good decision, but not because prices are guaranteed to rise.

Sources · last checked

Formula: see "How it's calculated" above; tested against the worked example shown there.

Last reviewed

Education, not advice. I'm not a financial adviser and I don't know your situation. These tools show the maths behind common rules of thumb; check important decisions with a qualified professional. Full disclaimer.