Mortgage Calculator
Calculate your estimated monthly payment including home price, down payment, interest rate and additional costs.
Input Information
Loan amount: ₩400,000,000
Additional Monthly Costs (optional)
Fixed monthly costs beyond principal & interest. Enter 0 if unknown.
Result
Enter values and press 'Calculate'.
Mortgage Calculator is the most common financial tool for turning the dream of homeownership into reality. You pledge the home as collateral and borrow a lump sum from a bank, repaying it monthly as principal & interest — usually at a lower rate than unsecured loans.
Comprehensive calculators like calculator.net consider not just the loan amount but also down payment, property tax, home insurance, PMI and HOA fees to show your "true monthly burden." Seeing every fixed monthly outflow at a glance is the smart first step.
Enter your inputs and press 'Calculate' to get the estimated monthly payment, cost breakdown, payoff date and amortization schedule at once. See the glossary below for unfamiliar terms.
Glossary
- Down Payment: the cash you pay upfront. A larger down payment means a smaller loan and less interest.
- Property Tax: an annual tax on owned real estate (based on assessed value).
- Home Insurance: protects the home against fire, flood and other damage.
- PMI (Private Mortgage Insurance): required when your down payment is small relative to the loan; in Korea often taken as a "mortgage guarantee".
- HOA (Homeowners Association): fee for shared amenities in a complex — like a Korean apartment management fee.
Equal Monthly Installment Formula
- M: Monthly principal & interest payment
- P: Loan amount (home price − down payment)
- r: monthly interest rate (annual ÷ 12)
- n: total number of months (term in years × 12)
Total monthly payment = monthly principal & interest + monthly portion of (property tax + home insurance + PMI + HOA). Payoff date is n months after the start year/month.
How to use your mortgage wisely
Check your DSR first
DSR (Debt Service Ratio) is your total annual loan principal & interest divided by annual income. Since mortgages are large, exceeding the limit cuts your loan cap — confirm how much you can borrow first.
Down payment ratio is your monthly cost
A larger down payment lowers the borrowed principal and total interest, reducing your monthly payment. If you have the funds, raising the down payment ratio is the surest way to save on interest.
Compare fixed vs variable rates
Fixed rates protect you when rates rise; variable rates are cheaper when they fall. Over a 30-year loan the total-interest gap from rate type is huge.
Add the hidden costs, not just principal & interest
Looking only at principal & interest ignores property tax, home insurance, PMI and HOA, understating your real monthly burden. This calculator’s “Monthly Payment” is the true fixed outflow including all of them.
Don’t miss policy mortgage products
Bogeumjarone, Ddimgol and Special Bogeumjarone are government-backed products offering below-market rates. Check your eligibility and compare actively.
Prepay to cut interest
When you have spare cash, prepaying part of the principal reduces the interest for the remaining term. Most mortgages waive the prepayment fee once per year (within a total limit) — use it.