Find the monthly payment, total interest and total cost of a mortgage, with the per-year amortization schedule — from amount, interest and term.
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Amortization schedule (per year)
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 30,339 | 25,868 | 4,471 | 395,529 |
| 2 | 30,339 | 25,569 | 4,770 | 390,759 |
| 3 | 30,339 | 25,249 | 5,090 | 385,669 |
| 4 | 30,339 | 24,909 | 5,431 | 380,238 |
| 5 | 30,339 | 24,545 | 5,794 | 374,444 |
| 6 | 30,339 | 24,157 | 6,182 | 368,261 |
| 7 | 30,339 | 23,743 | 6,596 | 361,665 |
| 8 | 30,339 | 23,301 | 7,038 | 354,627 |
| 9 | 30,339 | 22,830 | 7,510 | 347,117 |
| 10 | 30,339 | 22,327 | 8,013 | 339,105 |
| 11 | 30,339 | 21,790 | 8,549 | 330,555 |
| 12 | 30,339 | 21,218 | 9,122 | 321,434 |
| 13 | 30,339 | 20,607 | 9,733 | 311,701 |
| 14 | 30,339 | 19,955 | 10,384 | 301,316 |
| 15 | 30,339 | 19,259 | 11,080 | 290,237 |
| 16 | 30,339 | 18,517 | 11,822 | 278,415 |
| 17 | 30,339 | 17,726 | 12,614 | 265,801 |
| 18 | 30,339 | 16,881 | 13,458 | 252,342 |
| 19 | 30,339 | 15,979 | 14,360 | 237,983 |
| 20 | 30,339 | 15,018 | 15,322 | 222,661 |
| 21 | 30,339 | 13,992 | 16,348 | 206,314 |
| 22 | 30,339 | 12,897 | 17,442 | 188,871 |
| 23 | 30,339 | 11,729 | 18,611 | 170,260 |
| 24 | 30,339 | 10,482 | 19,857 | 150,403 |
| 25 | 30,339 | 9,152 | 21,187 | 129,217 |
| 26 | 30,339 | 7,734 | 22,606 | 106,611 |
| 27 | 30,339 | 6,220 | 24,120 | 82,491 |
| 28 | 30,339 | 4,604 | 25,735 | 56,756 |
| 29 | 30,339 | 2,881 | 27,459 | 29,298 |
| 30 | 30,339 | 1,042 | 29,298 | 0 |
Amounts are aggregated per year. Early on you pay more interest, and toward the end more principal.
Indicative loan figures. The payment uses the annuity formula (fixed rate). The real interest and APR depend on the bank, on IRCC and on fees — the figures here are estimates. Instant in-browser calculation, no account.
The fixed monthly payment uses the annuity formula, from the loan amount, the monthly rate (annual ÷ 12) and the number of months:
For 400,000 over 30 years at 6.5% interest: the monthly payment is about 2,528, and the total interest paid exceeds 500,000.
The fixed monthly payment uses the annuity formula, from the amount, the monthly rate (annual ÷ 12) and the number of months. For example, 400,000 over 30 years at 6.5% is a payment of about 2,528 per month.
A variable rate combines the IRCC index plus the bank’s fixed margin, while a fixed rate is set for a period. Indicatively, mortgage rates hover around 5.5–7%, depending on the bank and your profile.
A minimum down payment of 15% of the home value is usually required for a standard loan. Government programmes (for example Noua Casă) may ask for a smaller one.
The total monthly payment (all loans) cannot exceed the maximum debt ratio set by the central bank, usually 40% of net monthly income (sometimes more for a first home).
The APR (annual percentage rate) expresses the total yearly cost of the loan, including interest and fees (file analysis, administration, insurance). It is higher than the nominal rate and is the best indicator for comparison.
A shorter term means higher monthly payments but much lower total interest. A longer term lowers the payment but raises the total cost. Compare in the amortization schedule.
Yes. On variable-rate loans, early repayment (partial or full) is free of charge. You can reduce either the monthly payment or the term — reducing the term saves the most interest.
Besides the payment there are: the analysis fee, property valuation, notary and land-registry fees, mandatory home insurance and sometimes life insurance. These are usually paid upfront.