Mortgage Calculator

Category: Market Utilities
- August 31, 2026
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Calculate your monthly mortgage payments and see a complete amortization schedule

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Monthly Payment Breakdown

Total Monthly Payment $0.00
Principal & Interest $0.00
Property Tax $0.00
Home Insurance $0.00

Payment Distribution

Amortization Schedule

Loan Summary

Total Loan Amount $0.00
Down Payment $0.00
Total Principal Paid $0.00
Total Interest Paid $0.00
Total Cost of Loan $0.00

Amortization Table

Year Payment Principal Interest Remaining Balance

About Mortgage Payments

A mortgage payment typically consists of four components, often referred to as PITI: Principal, Interest, Taxes, and Insurance.

Principal

This is the amount you borrowed and need to pay back. Each monthly payment reduces your principal balance.

Interest

This is the cost of borrowing money, calculated as a percentage of your remaining loan balance.

Taxes

Property taxes are typically collected monthly with your mortgage payment and held in an escrow account.

Insurance

Homeowners insurance protects your property and is typically required by lenders.

Tips for Using the Calculator

  • Adjust the loan amount, interest rate, and term to see how they affect your monthly payment.
  • Compare different down payment amounts to find a balance between upfront costs and monthly payments.
  • Use the amortization table to understand how your payments are applied over time.
  • Consider how property taxes and insurance contribute to your total housing costs.

What this calculates

Monthly repayment, total interest and the amortisation schedule.

Formula
M = P × [i(1 + i)ⁿ] ÷ [(1 + i)ⁿ − 1], where i is the monthly rate and n the number of payments
Worked example
5,000,000 HKD over 30 years at 4% gives a monthly payment of about 23,870 HKD.
When to use it
Before committing, and when comparing rates or terms.
Common mistake
Looking only at the monthly figure. Extending 25 to 30 years lowers the payment and raises total interest substantially.