What This Tool Does
This simulator helps you understand the true cost of a mortgage. It calculates monthly payments, interest, and payoff dates based on the same formulas banks use – but with full transparency and control.
How to Use It
- Select Loan Type – New mortgage or refinance an existing one.
- Set Property or Mortgage Value – Between 50,000 and 1,850,000.
- Adjust Down Payment (for new loans) – Between 3% and 80% of property value.
- Choose Loan Term – From 3 years to 35 years
- Pick Interest Type – Fixed, Flexible, or Mixed.
Interest Explained
- Fixed – The rate never changes. Predictable and stable.
- Flexible – Adjusts every 3–6 months. Payments may rise or fall.
- Mixed – Start with fixed, then switch to flexible for the rest of the term.
Early Payments
Add one-time or recurring extra payments to see how they affect the loan. The amortization schedule updates instantly, showing:
- How many months you save
- How much interest you avoid
Amortization Table
Every month is broken down into principal, interest, fees, and balance remaining. This gives you a complete picture of your mortgage over time.