What does this Mortgage Payment Calculator do?
Our Mortgage Payment Calculator is designed to give you the payment figures but also the Amortization period when following such payment terms.
What are my mortgage payments going to be?
Use our mortgage payment calculator to find out your payment as monthly, semi-monthly, bi-weekly or weekly.
Why don’t we recommend Payment Calculators for First Time Buyers?
Although a payment calculator can estimate mortgage payments, it doesn’t include factors like other debt payments (car loans, student loans, credit cards etc). We recommend you use our Affordability Calculator to get a more accurate mortgage they can afford based on banking guidelines.
How to lower payments?
One way to lower payments is by increasing amortisation to 30 years, although to be eligible for 30-year amortisation you need to put a downpayment of min 20%.
Want to be mortgage free faster?
We strongly recommend you switch to bi-weekly or weekly, the extra payments during the year will help you pay off more principal quicker. Once you enter your data in the calculator across, you will notice that Weekly payments will show a significantly less amortisation period.