Calculate your mortgage payments with full cost breakdown — notary fees, insurance, property tax. Find out what salary you need.
A mortgage calculator estimates your monthly home loan payment by combining principal, interest, property tax, and insurance into one figure. Beyond the basic payment, it can also factor in notary fees and other closing costs, helping you understand the total cost of homeownership and the income needed to qualify.
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Mortgage Calculator
A mortgage calculator helps you estimate the monthly payments, total costs, and financial requirements for buying a property. Whether you are a first-time homebuyer or looking to refinance, understanding the full picture of homeownership costs is critical before making one of the biggest financial decisions of your life.
Our free mortgage calculator goes beyond basic payment estimates. It includes additional costs like notary fees, property transfer tax, and insurance, plus it calculates the minimum salary you need to qualify for the mortgage under conservative and moderate lending rules.
Guide
Start by entering the Property Price — the total purchase price of the home you are considering. Then set your Down Payment as a percentage. Most European banks require a minimum of 10–20% down, though a larger down payment will reduce your monthly costs and may qualify you for a better rate.
Enter the Annual Interest Rate offered by your lender and the Mortgage Term in years. Common mortgage terms in Europe are 15, 20, 25, and 30 years. The calculator instantly shows your monthly payment, total interest, and a complete amortization schedule.
Additional Costs
Many first-time buyers are surprised by the additional costs beyond the property price itself. Our calculator estimates three major categories: Notary Fees (~2%) for legal documentation, Property Transfer Tax (~2.5%), and Property Insurance (~0.2%/year) required by most lenders.
Together, these costs typically add 5–7% to your total purchase price. On a €200,000 property, that means an additional €10,000–14,000 in upfront costs that you need to budget for.
Affordability
Banks use debt-to-income ratios to determine how much you can borrow. Our calculator shows two common thresholds: Conservative rule (30%) — your mortgage payment should not exceed 30% of your monthly net salary, and Moderate rule (40%) — some banks will approve up to 40%.
For example, if your monthly mortgage payment is €800, you would need a minimum net salary of €2,667 under the conservative rule or €2,000 under the moderate rule.
Strategy
The choice between a shorter and longer mortgage term involves a trade-off between monthly affordability and total cost. A 15-year mortgage has significantly higher monthly payments but saves you tens of thousands of euros in interest.
Consider a €200,000 mortgage at 4% interest. With a 15-year term, your monthly payment is approximately €1,479 with total interest of €66,288. With a 30-year term, the payment drops to €955 but total interest jumps to €143,739 — more than double.
First-Time Buyer Tips
Save for a larger down payment
A 20%+ down payment eliminates private mortgage insurance at most banks and gets you a better interest rate.
Get pre-approved
Before house hunting, get a mortgage pre-approval from your bank. This tells you exactly how much you can borrow.
Budget for all costs
Beyond the mortgage, factor in maintenance (1% per year), utilities, property tax, and potential HOA fees.
Compare multiple banks
Interest rates and terms vary significantly. Even a 0.25% difference in rate can save thousands over the life of a mortgage.
Keep an emergency fund
Do not put all your savings into the down payment. Keep 3–6 months of expenses as a safety net.
Fixed vs variable rate?
Fixed rates provide certainty. Variable rates (Euribor-linked) offer potential savings if rates fall, but carry risk.
Most banks in Europe require a minimum down payment of 10-20% of the property price. A larger down payment (20%+) typically gets you a better interest rate and lower monthly payments. Our calculator helps you see exactly how different down payment amounts affect your costs.
Beyond the property price, you should budget for notary fees (~2%), property transfer tax (~2.5%), legal fees, valuation fees, and annual property insurance (~0.2% of property value). These costs typically add 5-7% to the total purchase price.
Banks typically use two rules: the conservative 30% rule (your mortgage payment should not exceed 30% of your net salary) and the moderate 40% rule. Our calculator shows both thresholds to help you understand your affordability.
A 15-year mortgage has higher monthly payments but you pay significantly less total interest. A 30-year mortgage has lower monthly payments, giving you more flexibility, but the total cost is much higher. Use our calculator to compare both scenarios and see the exact difference.
Fixed rates give you payment certainty — your rate stays the same for the entire term. Variable rates start lower but can increase with market conditions. In a rising interest rate environment, fixed is safer. In a stable or decreasing environment, variable may save money.