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Mortgage calculator

Compare annuity and linear repayment, model two rate periods, and track payments, interest, and the balance over time.

Parameters

Display currency
$
%
yrs
%
yrs

How the repayment methods differ

Annuity repayment: The monthly payment stays the same throughout a given rate phase. At first most of it goes toward interest and only a smaller part reduces the principal; over time the ratio reverses. After the rate changes (second period), the payment is recalculated from the remaining debt.

Linear repayment: Each month you repay the same portion of the principal plus interest on the current balance. Payments are highest at the start and decrease over time, because interest is charged on a smaller debt.

Results

Annuity repayment

Monthly payment (1st period)
$21,264
Monthly payment (after rate change)
$22,709
Total you will pay
$6,725,945
In interest
$3,225,945
Number of payments
300

Linear repayment

Monthly payment (1st month)
$27,388
Monthly payment (after rate change)
$26,133
Total you will pay
$6,093,730
In interest
$2,593,730
Number of payments
300
PrincipalInterest

Remaining debt and principal repaid

Blue area: remaining debt (left axis). Green area and line: total principal repaid since the start — right axis. In the tooltip, the sum of the two always equals the original principal.

Year-by-year overview

YearBalance at year-endPrincipal payment (year)Interest (year)
Year 1$3,431,817$68,183$186,982
Year 2$3,359,867$71,950$183,215
Year 3$3,283,941$75,926$179,239
Year 4$3,203,820$80,121$175,044
Year 5$3,119,273$84,547$170,618
Year 6$3,037,874$81,398$191,108
Year 7$2,951,284$86,591$185,915
Year 8$2,859,169$92,115$180,391
Year 9$2,761,178$97,991$174,515
Year 10$2,656,936$104,242$168,264
Year 11$2,546,044$110,892$161,614
Year 12$2,428,078$117,966$154,540
Year 13$2,302,586$125,491$147,015
Year 14$2,169,089$133,497$139,009
Year 15$2,027,076$142,013$130,493
Year 16$1,876,004$151,072$121,434
Year 17$1,715,295$160,710$111,796
Year 18$1,544,333$170,962$101,544
Year 19$1,362,465$181,868$90,638
Year 20$1,168,996$193,470$79,036
Year 21$963,184$205,811$66,695
Year 22$744,243$218,941$53,565
Year 23$511,336$232,907$39,599
Year 24$263,571$247,765$24,741
Year 25$0$263,571$8,935

Indicative comparison: annuity (payment recalculated from the balance after the first period) vs. linear (the same principal each month). The two periods model a rate change after the first block of years. Actual bank terms may differ.