How to calculate your monthly mortgage payment
A mortgage calculator uses the annuity formula to turn your loan amount, interest rate and term into one equal monthly payment. For example, a €250,000 loan at 3.5% over 25 years costs about €1,252 per month and roughly €125,000 in total interest.
Fixed or variable rate?
A fixed rate keeps your payment stable for an agreed period. A variable rate usually follows a reference rate such as Euribor in the euro area, so your payment can rise or fall. Fixed rates give certainty, while variable rates can be cheaper at the start but carry risk.
Ways to lower the total cost
A larger deposit, a shorter term and extra repayments all reduce total interest. A longer term lowers the monthly payment but increases the total cost. Compare offers using the full cost, including fees, insurance and taxes, not only the interest rate.