Estimate a monthly mortgage payment. Available with Premium in The Percentage Calculator app.
A monthly plan or lifetime Premium purchase is required for this feature.
The iOS mortgage calculator uses Amount, Interest (%) and Years to show “to pay monthly” and “total”. This mode requires Premium.
Choose the mortgage mode in The Percentage Calculator app.
Use the amount borrowed, the interest rate and the term in years. The iOS screen displays these three fields.
Read the monthly repayment and total together. Check which costs a lender includes before comparing the figures.
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For a standard fixed-rate repayment loan, P is the amount borrowed, i is the monthly interest rate and n is the total number of monthly payments. Convert the annual rate to a monthly decimal rate before using this formula.
This example covers principal and interest only. Taxes, insurance and fees are excluded. Actual lender terms can differ; a calculation is an estimate, not a loan offer.
A standard fixed-rate repayment calculation spreads the loan principal and interest over a set number of payments. The loan amount is the money borrowed, which can differ from the property price after a down payment. The term determines how many payments are scheduled.
In the example, a principal of 100,000 is repaid over 30 years at a nominal annual interest rate of 5%. For monthly payments, the periodic rate is 0.05 ÷ 12 and the number of payments is 30 × 12 = 360. The formula gives an unrounded payment of about 536.8216, displayed as 536.82 per month.
This illustration assumes a constant interest rate, regular monthly payments and full repayment over the term. Different mortgage structures or local interest conventions require their own assumptions.
The payment shown covers repayment of principal and interest. A household’s housing budget can also include property taxes, insurance, mortgage insurance, association charges and other fees.
The Consumer Financial Protection Bureau explains that the total monthly mortgage payment can include costs beyond principal and interest. Compare what a lender includes before comparing its figure with an illustration.
Amortization describes the gradual repayment of the balance. Under a standard amortizing fixed-rate schedule, the interest portion decreases as the outstanding principal falls, while more of the payment goes toward principal.
A larger amount borrowed raises the payment when the rate and term stay the same. A longer term generally lowers the scheduled monthly payment but increases total interest when the rate and loan amount are unchanged. A payment estimate alone does not show whether a mortgage is affordable.
For a zero-interest loan, principal divided by the number of payments gives the regular payment; the displayed interest-bearing formula needs this separate zero-rate case. Extra payments and changing rates also require an adjusted calculation.
The app includes a Premium mortgage feature. Check its displayed inputs and assumptions before using a result. The fixed example on this page illustrates the payment formula. For other financial calculations, explore compound interest and interest rates.
No. Budget separately for property taxes, insurance, fees and other costs. The calculation shown here covers principal and interest.
This page shows a fixed repayment example. Enter your own loan figures in the app’s Premium mortgage calculator. The four core percentage modes remain free online and in the app.
Not always. If a property costs 125,000 and the down payment is 25,000, the amount borrowed is 100,000 before any financed costs. Use the actual loan principal in a repayment formula.
No. The example uses a nominal annual interest rate divided by 12 for monthly payments. APR can reflect costs beyond the interest rate, so it should not be substituted without checking the calculation convention.
