SOLVE FOR
PAYMENT
Repayment mortgage estimate
ROUNDING
2DP
Money usually 2dp
HOUSE PRICE (£)
H
Optional: use with deposit
DEPOSIT (%)
D%
Loan = H × (1 − D)
LOAN (£)
L
Overrides H/D if edited
RATE (%)
r
Annual interest rate
TERM (YEARS)
Y
Years (whole or decimal)
OVERPAY (£/MO)
+O
Added to monthly payment
WORKING
—
—
—
—
—
MONTHLY PAYMENT
READY
—
PAGE 1/2
SOLVE FOR
PAYMENT
Repayment mortgage estimate
ROUNDING
2DP
Money usually 2dp
HOUSE PRICE (£)
H
Optional: use with deposit
DEPOSIT (%)
D%
Loan = H × (1 − D)
LOAN (£)
L
Overrides H/D if edited
RATE (%)
r
Annual interest rate
TERM (YEARS)
Y
Years (whole or decimal)
OVERPAY (£/MO)
+O
Added to monthly payment
WORKING
—
—
—
—
—
MONTHLY PAYMENT
READY
—
PAGE 1/2
MAIN FORMULA
PMT = L·i / (1 − (1+i)^−N)
i = monthly rate
N = months = 12×years
MONTHLY RATE
i = (r/100) ÷ 12
r is annual %
Example: 4.5% → 0.045/12
DEPOSIT
Loan L = H × (1 − D)
D is deposit decimal
10% deposit → D=0.10
TOTALS
TOTAL = PMT×N
INTEREST = TOTAL − L
Overpay adds to PMT
WORKED EXAMPLE
H=£200,000, D=10%
L=£180,000
r=4.5%, Y=25 → N=300
PMT ≈ £1,000 (approx)
NOTE
This is an estimate tool
Fees/insurance not included
Rates can change in real life
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