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Mortgage calculator

In here you can get some help calculating your loan. With our simple loan / mortgage calculator you will be able to get an overview of a number of different things, all you need to do is to fill in some of the basic loan information in the calculator below.

You can choose to calculate a regular loan, by going to the LOAN tab and filling in the total amount of your loan, how long you have to pay it back, your interest rate and the day of the first payment you have to make.

You can also calculate your mortgage by clicking the MORTGAGE tab and filling in the information. Here you will have to give alot more info about your loan because a mortgage is a bit more complex.

Mortgage Calculcator - Guide

The information you have to fill in to calculate a regular loan is quite straight forward, and we will not explain this any further. This is for mortgage only.

Filling in the mortgage information

Purchase price: The amount of money you paid for your house

Down payment: How much of the house you paid right away

Mortgage Term: How long you have to pay back your loan

Interest rate: How many percent you pay in interest each year

Property tax: The yearly cost of the taxes

Property insurance: The yearly cost of the insurance

PMI: Extra insurance for homebuyers which is normally required when the down payment is less than 20 % of the total value of the house.

Reading the results

At the top of the results screen you will be able to see the monthly cost of your mortgage. You will also be able to see the total cost of your loan, how many payments you will have to make to be debt free and when your loan will be fully repaid.

In the results screen you will see a diagram with bars that are colored blue, yellow and green. There is a bar for each year, and it shows the cost for that year devided into the different parts. Hold your mouse over the bar you wish to examine closer, and over the different colored parts of a bar to see the information for that particular part. The blue part is insurance, tax and PMI (in one), the yellow is the interest and the green is how much of the actual loan you pay back. You will also see a red line which represents how much you have left to pay off, in other words the remaining mortgage. You can hold the mouse over the white dots in this read line to see the balance.