Mortgage Calculator
House Price (10K)
Down Payment (10K)
Monthly Income (10K)
Loan Rate (%) (portion over 10M)
Loan Term (years)
Grace Period (years)
Calculation Result
Total Loan Amount: ten thousand
First Home Loan (1.775%): ten thousand
First Home Monthly Payment:0 $
Total Monthly Payment:0 $
Total Repayment:0 $
Total Interest:0 $
Income Ratio:0.00%
Risk Level:Low
Reasonable, Low Financial Risk
Down Payment Ratio:12.50%
Loan Ratio:87.50%
Annual Principal and Interest Distribution
What is a Mortgage?
A mortgage is the most common way to finance a home purchase, usually requiring a down payment with the remainder financed by a bank loan.
- Longer loan terms reduce monthly payments but increase total interest.
- Interest rates greatly affect the total repayment amount.
- It is recommended that monthly payments do not exceed 40% of monthly income.
Example
Assume a house price of 16M, down payment 2M, loan 14M, interest rate 2.5%, 30 years:
- Monthly payment is about $55,300.
- Total repayment is about $19,900,000.
- Total interest is about $5,900,000.
Mortgage Tips:
- Early repayment may incur penalties, check your contract.
- Good credit helps secure lower interest rates.
- Reserve living expenses before making monthly payments to avoid financial stress.