Home Loan Calculator

If you want to get as accurate a mortgage payment calculation as possible, you should fill out all the inputs. Don’t worry, we’ll explain each parameter in detail so that even beginners can confidently fill out the mortgage calculator. Enter the price of a new building apartment, resale, or suburban house. If you are going to use a home loan calculator or mortgage calculator, enter the amount you have negotiated with the seller or developer. Enter your own funds. This is the amount you can pay from your savings to the bank initially. The bigger your initial payment is, the less principal loan amount you’ll need to borrow. As a result, you will see more pleasing numbers in the mortgage cost calculation, and the total amount of overpayment on the mortgage will reduce many times. Banks usually count on buyers having 10% to 20% saved for a down payment. However, many experts recommend paying 30–40% initially if you can afford it. The interest rate will depend on which bank program you choose: a preferential one, a family or market-rate one. In our mortgage calculator, you can enter values with decimals to the hundredths of a percent.

Mortgage terms range from 5 to 30 years. The rule is simple here: the longer your mortgage term, the smaller the monthly payment calculated by the mortgage payment calculator. However, if you spread your payments over 30 years, then the total overpayment of the loan will multiply many times. Many experts believe that the optimum mortgage term is between 15–20 years: you still have affordable payments, and your savings won’t be eaten up by interest.

Know that the law allows you to make additional payments over the minimum required. If so, a smart mortgage calculator will give you two options for you to decide between:

• Decreasing your monthly payment. You make an additional payment of, say, $10,000; the loan term remains the same (for example, 20 years), but your monthly payment decreases. This is an excellent safety strategy in case you’re worried about losing your job or facing temporary financial difficulties.
• Shortening the loan term. You continue to pay the same amount you’re used to, but the term itself is reduced from 20 to 14 years. It is precisely this mathematical model that allows you to save millions of rubles in bank interest.

Expert tip: Run both options through the mortgage calculator. See how much you’ll have to pay on your mortgage in the first scenario, and how the total overpayment will change in the second. A comparison of clear graphs will prove the benefits of regular early payments better than any words can.

The economy is volatile: today, rates can skyrocket, and in a couple of years, they may drop again. If you took out a mortgage at a high interest rate, that’s no reason to overpay for the rest of your life. A mortgage refinancing calculator can help you.
Refinancing involves taking out a new loan at a lower interest rate to fully pay off the old one. Our service lets you compare your current terms with potential new ones. Simply enter your remaining balance, loan term, and the new interest rate.
Refinancing usually makes sense if the difference between the rates is at least 1.5–2%. The mortgage calculator will instantly show you the difference: you’ll see how much your monthly payment will decrease and how much money you’ll save in your family budget.