Know the payment
before you commit.
A home price is just the beginning. Estimate your mortgage payment, explore additional housing costs and compare options before you make your next move.
- Free calculation
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- Compare scenarios
- Canada / US / UK / Nigeria examples
Build your mortgage estimate
Start with a few numbers. Every field can be changed, and the result updates instantly.
Generic fixed-rate monthly amortization. Verify local bank terms and fees.
30% of purchase price
Estimate the full housing cost
Enter your own estimate. There is no automatic eligibility or insurance calculation.
Important: The tool estimates payments with a fixed rate across the full amortization period. In reality, rates may change on renewal or over the loan's life. Canadian mortgage insurance premiums, land-transfer taxes, closing costs, lender qualification rules and country-specific fees are not automatically calculated.
Your estimated monthly cost
An illustration of what owning this property could cost each month.
Estimated total monthly housing cost
NGN 730,157
Mortgage + entered taxes, insurance and fees. Not a lender quote or affordability approval.
Principal & interest / month
NGN 702,207
Loan amount
NGN 45,500,000
Estimated interest over amortization
NGN 123,029,618
Total paid toward principal + interest
NGN 168,529,618
Where your monthly payment goes
What if your situation changes?
Compare monthly principal and interest only so you can see how borrowing choices change the mortgage itself.
Numbers are estimated for educational planning, not mortgage advice. As a rough income check, if this payment were 30% of gross income with no other debt, that would be about NGN 29,206,270 a year. That is a rule of thumb, not a lender rule for your country.
The method
How this is calculated
The loan amount is the home price minus the down payment.
Canada converts a rate that compounds twice a year into a monthly rate. Every other country uses a simple monthly rate.
Canada: r = (1 + annual rate ÷ 2) ^ (1 ÷ 6) − 1
Other countries: r = annual rate ÷ 12
Principal and interest uses the standard amortizing payment. P is the loan amount. n is the number of months. If the rate is zero, the payment is the loan divided by the number of months.
M = P × [ r(1 + r)^n / ((1 + r)^n − 1) ]
Monthly property tax is the home price times the yearly percent, divided by 12. Insurance, fees, and mortgage insurance are the monthly amounts you enter. They are added to principal and interest.
“5% more down” adds 5% of the home price to the down payment. “Rate rises by 1 percentage point” adds one point to the rate. Both compare principal and interest only.
