FINANCE · REPAYMENT MORTGAGE
Mortgage total cost calculator
Estimate your monthly repayment, total interest and the full scheduled cost of a repayment mortgage.
ESTIMATED TOTAL COST
$0
Scheduled repayments plus the fees entered
Monthly repayment $0
Total interest $0
Fees entered $0
Total scheduled repayments $0
How the mortgage total is calculated
The monthly repayment is calculated using the standard amortising-loan formula. Total interest is the sum of all scheduled payments less the amount borrowed. The total cost adds the optional upfront fees you enter.
Monthly payment = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
Typical examples
| Mortgage | Rate / term | Monthly repayment | Total interest |
|---|---|---|---|
| $200,000 | 4% / 25 years | $1,056 | $116,767 |
| $250,000 | 4% / 25 years | $1,320 | $145,959 |
| $300,000 | 5% / 30 years | $1,610 | $279,767 |
Questions
Does this estimate an interest-only mortgage?
No. It models a repayment mortgage with equal monthly payments.
What can change the real cost?
Fees, insurance, tax, early repayment charges and changes to a variable rate can change the real cost.