This mortgage calculator works out your monthly payment, with and without loan insurance, the total cost of the loan, an approximate APRC and the year-by-year amortization schedule. The options add how much you can borrow on your income, your down payment and purchase costs. Free, no sign-up.
Fixed rate, level monthly payments, insurance charged on the amount borrowed. The default rate is close to the French average, not an offer: enter the rate you are quoted.
A fixed-rate mortgage is repaid in level monthly payments: every month you pay the same amount, which covers that month's interest and pays off part of the principal. The formula starts from the monthly rate, the annual interest rate divided by 12:
payment = principal × r ÷ (1 − (1 + r)^−n), where r is the monthly rate and n the number of months.
For $250,000 over 25 years at 3.30%, r is 0.275% and n is 300 months: the payment is $1,224.90 before insurance. Loan insurance at 0.30% a year of the amount borrowed adds $62.50 a month, $1,287.40 in all. That is what the calculator shows by default. Another figure to check the maths by hand: $200,000 over 20 years at 3% comes to $1,109.20 a month before insurance.
The default 3.30% is an order of magnitude, close to the French average. According to Banque de France statistics, the average rate on new housing loans in France, excluding renegotiations, was 3.32% in September 2026 (published on 5 November 2026). Rates differ widely from one country to another, and with the term and your profile: enter the rate you are quoted.
Enter the loan amount, the annual interest rate, the term in years and the cost of loan insurance, if any. The calculator returns the monthly payment with and without insurance.
It adds up interest and insurance over the whole term, adds the loan fees you enter in the options, and works out an approximate APRC. The amortization schedule breaks it down year by year.
From your income and other loan payments, it works out the maximum payment at the debt-to-income ratio you set, and the amount you can borrow. From the price and your down payment, it works out how much is left to borrow.
The payment before insurance: principal × r ÷ (1 − (1 + r)^−n), where r is the annual rate divided by 12 and n the term in months. Insurance is worked out separately: amount borrowed × annual rate ÷ 12, the same every month when it is charged on the original amount.
Buying to let in France? The buy-to-let guide works through a full purchase: mortgage, rental yield, unfurnished or LMNP, and tax.
Read the buy-to-let guide →The cost of a loan is everything you pay on top of the amount borrowed: interest, insurance and fees. For $250,000 over 25 years at 3.30%, with insurance at 0.30%:
| Item | Amount |
|---|---|
| Monthly payment before insurance | $1,224.90 |
| Insurance, per month | $62.50 |
| Total monthly payment | $1,287.40 |
| Interest over 25 years | $117,471 |
| Insurance over 25 years | $18,750 |
| Total cost of the loan | $136,221 |
| Total repaid | $386,221 |
| Approximate APRC | 3.83% |
Over 25 years you repay $386,221 for $250,000 borrowed: the loan costs $136,221, more than half the principal, and interest is most of it. With $2,500 of loan fees, the APRC rises from 3.83% to 3.93%. The APRC, not the interest rate, is the figure to compare two offers with: it puts everything the loan costs into a single percentage.
A level payment does not repay the principal at the same pace throughout the loan. At first the balance owed is high, so the month's interest is high too. In the first year of the default loan, your payments cover $8,152 of interest and repay only $6,547 of principal. It takes until year 5 for the principal repaid in the year to exceed the interest, and until year 16 to have repaid half the amount borrowed. In the final year, interest comes to only $259.
That is why paying extra early in the loan saves a lot of interest, and almost none near the end. The calculator's amortization schedule, under the result, shows for each year the principal repaid, the interest, the insurance and the balance still owed.
There is no single rule worldwide. In France, the HCSF, the country's macroprudential authority, requires lenders to keep total loan payments at no more than 35% of net income, insurance included, with a maximum term of 25 years, or 27 with a deferral on a new build or renovation. Lenders may go beyond these limits for 20% of their new loans. That French rule is the calculator's default; lenders elsewhere apply their own ratios, so enter yours in the options.
The calculation is the same everywhere: debt-to-income = all your loan payments ÷ net monthly income. Maximum payment = income × ratio − other loan payments, and the amount you can borrow is the principal that payment repays at the chosen rate and term.
| Net household income | Maximum payment | Borrowable over 20 years | Borrowable over 25 years |
|---|---|---|---|
| $2,500 | $875 | $147,124 | $169,916 |
| $3,500 | $1,225 | $205,974 | $237,882 |
| $4,500 | $1,575 | $264,824 | $305,848 |
| $6,000 | $2,100 | $353,098 | $407,797 |
Rate of 3.30% and insurance at 0.30% a year, with no other loans. On $4,000 of income, the maximum payment is $1,400, so $271,865 can be borrowed over 25 years. The default $250,000 loan means a debt-to-income ratio of 32.2%: it passes the 35% test, leaving $2,712.60 a month for everything else.
The ratio does not tell the whole story. Lenders also look at what is left each month once loans are paid, set against the size of the household: 35% of a $2,000 income does not leave the same margin as 35% of $8,000. No official threshold sets it, and each lender has its own. The calculator shows it as soon as you enter your income.
In France, lenders almost always require borrower insurance that repays the loan in case of death or disability. Its rate applies to the amount borrowed: charged on the original amount, the premium stays the same every month; charged on the balance owed, it falls as you repay. The calculator uses the first method. Elsewhere, the equivalent may be mortgage insurance on a small down payment, or nothing at all: set it to 0 if your loan has none.
| Insurance rate | Per month | Over 25 years | Approximate APRC |
|---|---|---|---|
| 0.10% | $20.83 | $6,250 | 3.51% |
| 0.30% | $62.50 | $18,750 | 3.83% |
| 0.50% | $104.17 | $31,250 | 4.15% |
Over 25 years, going from 0.30% to 0.10% saves $12,500. In France, the 2022 Lemoine law lets borrowers switch loan insurance at any time, at no cost, for a policy with equivalent cover. For a couple each insured at 100%, the premium doubles at the same rate.
The price is not all you need to fund. In France, notary and transfer costs, mostly taxes, come to about 7 to 8% of the price for an existing home and 2 to 3% for a new build. These are orders of magnitude. Elsewhere, purchase costs depend on local taxes and fees: enter the percentage your notary, lawyer or agent gives you.
Example, with costs entered at 7.5%: a $300,000 home comes with $22,500 of costs, $322,500 in all. With $72,500 down, $250,000 is left to borrow, the default loan. The calculator's purchase option runs this calculation and carries the amount over to the loan in one click.
A longer term lowers the payment and raises the cost. Same amount, same 3.30% rate and same insurance, over three terms:
| Term | Monthly payment, insurance included | Interest | Total cost of the loan |
|---|---|---|---|
| 15 years | $1,825.25 | $67,296 | $78,546 |
| 20 years | $1,486.84 | $91,841 | $106,841 |
| 25 years | $1,287.40 | $117,471 | $136,221 |
Going from 20 to 25 years lowers the payment by $199.44 and costs $29,380 more. That is the price of borrowing more: on $4,500 of income, 25 years let you borrow $305,848, against $264,824 over 20 years. In practice, lenders often charge a slightly lower rate on shorter terms, which widens the gap: enter the actual rate for each term to compare.
Buying to let in France? The buy-to-let guide covers the mortgage together with yield and tax. And to compare a down payment invested elsewhere with one put into property, the compound interest calculator shows what the same sum would grow into over the term of the loan.
This page is educational. It is neither a loan offer nor financial advice: only your lender's offer is binding.
Payment = principal × r ÷ (1 − (1 + r)^−n), where r is the annual rate divided by 12 and n the number of months. $200,000 over 20 years at 3% comes to $1,109.20 a month before insurance. Insurance is added on top: principal × insurance rate ÷ 12.
At a 35% debt-to-income ratio, your maximum payment is 35% of your net income, minus your other loan payments. On $3,000 a month, that is $1,050, or about $203,899 over 25 years at 3.30% with 0.30% insurance included. Lenders apply their own ratios: enter yours.
It depends on the country and the lender. In France, the HCSF caps it at 35% of net income, insurance included, with a 25-year maximum term (27 with a deferral), and lenders may exceed it for 20% of their new loans. Elsewhere, each lender sets its own threshold.
Over 25 years the payment is lower and the cost higher. For $250,000 at 3.30% with 0.30% insurance: $1,486.84 a month and $106,841 in total cost over 20 years, $1,287.40 a month and $136,221 over 25 years. The shortest term your budget can carry is the one that costs least.
The annual percentage rate of charge brings together everything the loan costs: interest, the insurance the lender requires, and fees. It is the rate at which the amount lent, minus fees, equals the present value of all the payments, compounded annually as the European rules require. The calculator works it out that way, with the fees you enter. A US APR is computed differently and is not directly comparable.
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