🏡 Mortgage Calculator

Want to know what a mortgage costs per month? Enter the loan amount, interest rate and term to instantly calculate your monthly payment using the annuity method.

%
years
Monthly payment 1.397,87 kr.
Total to repay 503.233,94 kr.
Total interest 203.233,94 kr.

The difference between what you repay and the amount borrowed.

Formula

M = P · r ÷ (1 − (1 + r)^−n)

P is the loan amount, r the monthly rate (annual rate ÷ 12 ÷ 100) and n the number of months (term × 12). With an annuity mortgage the monthly payment stays constant; the interest portion falls and the repayment portion rises over time.

Steps

  1. 1Find the monthly rate: 3.8% ÷ 12 = 0.3167% per month.
  2. 2Calculate the number of months: 30 × 12 = 360.
  3. 3Enter the values into the formula.

commonMistakes

  • Using the annual rate directly as the monthly rate.
  • Forgetting this is the gross payment, excluding tax relief and insurance.

useCases

  • Estimating whether a home is affordable.
  • Comparing different terms and interest rates.