Read the result correctly
A small rate or term difference can materially change the total cost of a long mortgage. Compare several scenarios.
How does the down payment affect a mortgage?
A larger down payment reduces principal, monthly payment and usually total interest.
Longer term: benefit and cost
A longer term lowers the monthly payment but usually increases lifetime interest.
Frequently asked questions
How is the mortgage amount calculated?
The down payment is subtracted from the property price.
Should I increase the down payment?
It usually reduces debt, but retaining an emergency reserve also matters.
Is insurance included?
No. Insurance, valuation and registration costs are separate.
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Read the calculation methodology and finance guide for formulas and assumptions. Calculation methodology · Finance guide