Calculate your monthly mortgage payment — select your country below
Enter your details and click Calculate
Choose your country — we auto-fill the correct currency and average interest rate
Input your home price, down payment, interest rate and loan term
See your monthly payment, total interest and full amortization schedule instantly
A mortgage calculator is a free online tool that helps you estimate your monthly mortgage payment based on the home price, down payment, interest rate, and loan term. Our free mortgage calculator supports multiple countries including the USA, UK, Canada, Australia, and UAE — automatically adjusting for local currencies and typical interest rates to give you the most accurate estimate possible.
The monthly mortgage payment is calculated using the standard amortization formula. It takes into account your loan amount (home price minus down payment), the annual interest rate divided into monthly portions, and the total number of monthly payments over your loan term. Our mortgage calculator performs this calculation instantly and also shows you the total interest paid over the life of the loan.
Mortgage interest rates vary significantly by country. In the USA, average 30-year fixed mortgage rates in 2026 are around 6.5–7.5%. In the UK, typical rates are 4.5–5.5%. Canada averages 5.5–7%, Australia around 6–7%, and UAE typically offers 3.5–5% for expats. Our calculator pre-fills the current average rate for your country so you get a realistic starting estimate.
Down payment requirements vary by country and lender. In the USA, a minimum of 3–5% is typically required for conventional loans, though 20% avoids private mortgage insurance (PMI). In the UK, most lenders require 5–10% minimum. Canada requires at least 5% for homes under CA$500,000. Australia typically requires 10–20%. UAE requires a minimum 20% down payment for expats. Our mortgage calculator lets you experiment with different down payment amounts to see the impact on your monthly payment.
Amortization is the process of paying off your mortgage through regular monthly payments over time. In the early years of your mortgage, most of your payment goes toward interest rather than paying down the principal. As time goes on, this ratio shifts — more of each payment goes toward the principal. Our mortgage calculator shows you a year-by-year amortization schedule so you can see exactly how your loan balance reduces over time.
A 15-year mortgage has higher monthly payments but you pay significantly less interest overall and build equity faster. A 30-year mortgage has lower monthly payments, making it more affordable month to month, but you pay more interest over the life of the loan. Use our mortgage calculator to compare both options — simply change the loan term to 15 or 30 years and see the difference in monthly payments and total interest paid.
Yes — our mortgage calculator is completely free to use with no registration, no sign up, and no hidden fees. It works on all devices including mobile phones, tablets, and desktop computers. We support five countries — USA, UK, Canada, Australia, and UAE — with more coming soon.
Our mortgage calculator shows the core principal and interest payment. Property taxes, homeowner’s insurance, and HOA fees vary widely by location and are not included in the calculation. To get your true total monthly housing cost, add these additional expenses to the monthly payment shown by our calculator. Your lender or mortgage broker can give you accurate estimates for taxes and insurance in your specific area.