Loan - mortgage

The calculator calculates the loan (or mortgage) repayment amount from its amount, the length of the repayment in months, and the interest rate (money prices)

% p.a.

Calculation:


Regular repayment: 916.01

Total paid: 329,764.60

Interest paid: 221,764.60

Number of payments: 360


Payment Calendar

Payment Number Balance Payment Interest Principal
1 107,947.99 916.01 864.00 52.01
2 107,895.56 916.01 863.58 52.43
3 107,842.71 916.01 863.16 52.85
4 107,789.44 916.01 862.74 53.27
5 107,735.74 916.01 862.32 53.70
6 107,681.61 916.01 861.89 54.13
7 107,627.06 916.01 861.45 54.56
8 107,572.06 916.01 861.02 55.00
9 107,516.62 916.01 860.58 55.44
10 107,460.74 916.01 860.13 55.88
11 107,404.42 916.01 859.69 56.33
12 107,347.64 916.01 859.24 56.78
13 107,290.41 916.01 858.78 57.23
14 107,232.72 916.01 858.32 57.69
15 107,174.57 916.01 857.86 58.15
16 107,115.95 916.01 857.40 58.62
17 107,056.86 916.01 856.93 59.09
18 106,997.31 916.01 856.45 59.56
19 106,937.27 916.01 855.98 60.03
20 106,876.76 916.01 855.50 60.51
21 106,815.76 916.01 855.01 61.00
22 106,754.27 916.01 854.53 61.49
23 106,692.29 916.01 854.03 61.98
24 106,629.82 916.01 853.54 62.47
25 106,566.85 916.01 853.04 62.97
26 106,503.37 916.01 852.53 63.48
27 106,439.38 916.01 852.03 63.99
28 106,374.88 916.01 851.52 64.50
29 106,309.87 916.01 851.00 65.01
30 106,244.34 916.01 850.48 65.53
31 106,178.28 916.01 849.95 66.06
32 106,111.69 916.01 849.43 66.59
33 106,044.57 916.01 848.89 67.12
34 105,976.92 916.01 848.36 67.66
35 105,908.72 916.01 847.82 68.20
36 105,839.98 916.01 847.27 68.74
37 105,770.68 916.01 846.72 69.29
38 105,700.84 916.01 846.17 69.85
39 105,630.43 916.01 845.61 70.41
40 105,559.46 916.01 845.04 70.97
41 105,487.92 916.01 844.48 71.54
42 105,415.81 916.01 843.90 72.11
43 105,343.13 916.01 843.33 72.69
44 105,269.86 916.01 842.75 73.27
45 105,196.01 916.01 842.16 73.85
46 105,121.56 916.01 841.57 74.44
47 105,046.52 916.01 840.97 75.04
48 104,970.88 916.01 840.37 75.64
49 104,894.63 916.01 839.77 76.25
50 104,817.78 916.01 839.16 76.86
51 104,740.31 916.01 838.54 77.47
52 104,662.22 916.01 837.92 78.09
53 104,583.50 916.01 837.30 78.72
54 104,504.16 916.01 836.67 79.34
55 104,424.18 916.01 836.03 79.98
56 104,343.56 916.01 835.39 80.62
57 104,262.29 916.01 834.75 81.26
58 104,180.38 916.01 834.10 81.91
59 104,097.81 916.01 833.44 82.57
60 104,014.58 916.01 832.78 83.23
61 103,930.68 916.01 832.12 83.90
62 103,846.12 916.01 831.45 84.57
63 103,760.87 916.01 830.77 85.24
64 103,674.95 916.01 830.09 85.93
65 103,588.33 916.01 829.40 86.61
66 103,501.03 916.01 828.71 87.31
67 103,413.02 916.01 828.01 88.00
68 103,324.32 916.01 827.30 88.71
69 103,234.90 916.01 826.59 89.42
70 103,144.76 916.01 825.88 90.13
71 103,053.91 916.01 825.16 90.85
72 102,962.33 916.01 824.43 91.58
73 102,870.01 916.01 823.70 92.31
74 102,776.96 916.01 822.96 93.05
75 102,683.16 916.01 822.22 93.80
76 102,588.62 916.01 821.47 94.55
77 102,493.31 916.01 820.71 95.30
78 102,397.25 916.01 819.95 96.07
79 102,300.41 916.01 819.18 96.83
80 102,202.80 916.01 818.40 97.61
81 102,104.41 916.01 817.62 98.39
82 102,005.23 916.01 816.84 99.18
83 101,905.26 916.01 816.04 99.97
84 101,804.49 916.01 815.24 100.77
85 101,702.92 916.01 814.44 101.58
86 101,600.53 916.01 813.62 102.39
87 101,497.32 916.01 812.80 103.21
88 101,393.28 916.01 811.98 104.03
89 101,288.42 916.01 811.15 104.87
90 101,182.71 916.01 810.31 105.71
91 101,076.16 916.01 809.46 106.55
92 100,968.76 916.01 808.61 107.40
93 100,860.49 916.01 807.75 108.26
94 100,751.36 916.01 806.88 109.13
95 100,641.36 916.01 806.01 110.00
96 100,530.48 916.01 805.13 110.88
97 100,418.71 916.01 804.24 111.77
98 100,306.05 916.01 803.35 112.66
99 100,192.48 916.01 802.45 113.56
100 100,078.01 916.01 801.54 114.47
101 99,962.62 916.01 800.62 115.39
102 99,846.31 916.01 799.70 116.31
103 99,729.07 916.01 798.77 117.24
104 99,610.89 916.01 797.83 118.18
105 99,491.76 916.01 796.89 119.13
106 99,371.68 916.01 795.93 120.08
107 99,250.65 916.01 794.97 121.04
108 99,128.64 916.01 794.01 122.01
109 99,005.65 916.01 793.03 122.98
110 98,881.69 916.01 792.05 123.97
111 98,756.73 916.01 791.05 124.96
112 98,630.77 916.01 790.05 125.96
113 98,503.80 916.01 789.05 126.97
114 98,375.82 916.01 788.03 127.98
115 98,246.81 916.01 787.01 129.01
116 98,116.77 916.01 785.97 130.04
117 97,985.70 916.01 784.93 131.08
118 97,853.57 916.01 783.89 132.13
119 97,720.38 916.01 782.83 133.18
120 97,586.14 916.01 781.76 134.25
121 97,450.81 916.01 780.69 135.32
122 97,314.41 916.01 779.61 136.41
123 97,176.91 916.01 778.52 137.50
124 97,038.31 916.01 777.42 138.60
125 96,898.60 916.01 776.31 139.71
126 96,757.78 916.01 775.19 140.82
127 96,615.83 916.01 774.06 141.95
128 96,472.74 916.01 772.93 143.09
129 96,328.51 916.01 771.78 144.23
130 96,183.13 916.01 770.63 145.38
131 96,036.58 916.01 769.47 146.55
132 95,888.86 916.01 768.29 147.72
133 95,739.96 916.01 767.11 148.90
134 95,589.86 916.01 765.92 150.09
135 95,438.57 916.01 764.72 151.29
136 95,286.07 916.01 763.51 152.50
137 95,132.34 916.01 762.29 153.72
138 94,977.39 916.01 761.06 154.95
139 94,821.19 916.01 759.82 156.19
140 94,663.75 916.01 758.57 157.44
141 94,505.05 916.01 757.31 158.70
142 94,345.08 916.01 756.04 159.97
143 94,183.82 916.01 754.76 161.25
144 94,021.28 916.01 753.47 162.54
145 93,857.44 916.01 752.17 163.84
146 93,692.29 916.01 750.86 165.15
147 93,525.81 916.01 749.54 166.47
148 93,358.01 916.01 748.21 167.81
149 93,188.86 916.01 746.86 169.15
150 93,018.36 916.01 745.51 170.50
151 92,846.49 916.01 744.15 171.87
152 92,673.25 916.01 742.77 173.24
153 92,498.62 916.01 741.39 174.63
154 92,322.60 916.01 739.99 176.02
155 92,145.17 916.01 738.58 177.43
156 91,966.31 916.01 737.16 178.85
157 91,786.03 916.01 735.73 180.28
158 91,604.31 916.01 734.29 181.72
159 91,421.13 916.01 732.83 183.18
160 91,236.49 916.01 731.37 184.64
161 91,050.36 916.01 729.89 186.12
162 90,862.75 916.01 728.40 187.61
163 90,673.64 916.01 726.90 189.11
164 90,483.02 916.01 725.39 190.62
165 90,290.87 916.01 723.86 192.15
166 90,097.19 916.01 722.33 193.69
167 89,901.95 916.01 720.78 195.24
168 89,705.15 916.01 719.22 196.80
169 89,506.78 916.01 717.64 198.37
170 89,306.82 916.01 716.05 199.96
171 89,105.27 916.01 714.45 201.56
172 88,902.09 916.01 712.84 203.17
173 88,697.30 916.01 711.22 204.80
174 88,490.86 916.01 709.58 206.43
175 88,282.78 916.01 707.93 208.09
176 88,073.03 916.01 706.26 209.75
177 87,861.60 916.01 704.58 211.43
178 87,648.48 916.01 702.89 213.12
179 87,433.65 916.01 701.19 214.82
180 87,217.11 916.01 699.47 216.54
181 86,998.84 916.01 697.74 218.28
182 86,778.81 916.01 695.99 220.02
183 86,557.03 916.01 694.23 221.78
184 86,333.47 916.01 692.46 223.56
185 86,108.13 916.01 690.67 225.34
186 85,880.98 916.01 688.87 227.15
187 85,652.02 916.01 687.05 228.96
188 85,421.22 916.01 685.22 230.80
189 85,188.58 916.01 683.37 232.64
190 84,954.07 916.01 681.51 234.50
191 84,717.69 916.01 679.63 236.38
192 84,479.42 916.01 677.74 238.27
193 84,239.24 916.01 675.84 240.18
194 83,997.15 916.01 673.91 242.10
195 83,753.11 916.01 671.98 244.04
196 83,507.12 916.01 670.02 245.99
197 83,259.17 916.01 668.06 247.96
198 83,009.23 916.01 666.07 249.94
199 82,757.29 916.01 664.07 251.94
200 82,503.33 916.01 662.06 253.95
201 82,247.35 916.01 660.03 255.99
202 81,989.31 916.01 657.98 258.03
203 81,729.21 916.01 655.91 260.10
204 81,467.04 916.01 653.83 262.18
205 81,202.76 916.01 651.74 264.28
206 80,936.37 916.01 649.62 266.39
207 80,667.85 916.01 647.49 268.52
208 80,397.18 916.01 645.34 270.67
209 80,124.34 916.01 643.18 272.84
210 79,849.32 916.01 640.99 275.02
211 79,572.11 916.01 638.79 277.22
212 79,292.67 916.01 636.58 279.44
213 79,011.00 916.01 634.34 281.67
214 78,727.07 916.01 632.09 283.92
215 78,440.88 916.01 629.82 286.20
216 78,152.39 916.01 627.53 288.49
217 77,861.60 916.01 625.22 290.79
218 77,568.48 916.01 622.89 293.12
219 77,273.01 916.01 620.55 295.46
220 76,975.18 916.01 618.18 297.83
221 76,674.97 916.01 615.80 300.21
222 76,372.36 916.01 613.40 302.61
223 76,067.33 916.01 610.98 305.03
224 75,759.85 916.01 608.54 307.47
225 75,449.92 916.01 606.08 309.93
226 75,137.50 916.01 603.60 312.41
227 74,822.59 916.01 601.10 314.91
228 74,505.16 916.01 598.58 317.43
229 74,185.19 916.01 596.04 319.97
230 73,862.66 916.01 593.48 322.53
231 73,537.55 916.01 590.90 325.11
232 73,209.83 916.01 588.30 327.71
233 72,879.50 916.01 585.68 330.33
234 72,546.52 916.01 583.04 332.98
235 72,210.88 916.01 580.37 335.64
236 71,872.56 916.01 577.69 338.33
237 71,531.52 916.01 574.98 341.03
238 71,187.76 916.01 572.25 343.76
239 70,841.25 916.01 569.50 346.51
240 70,491.97 916.01 566.73 349.28
241 70,139.89 916.01 563.94 352.08
242 69,785.00 916.01 561.12 354.89
243 69,427.27 916.01 558.28 357.73
244 69,066.67 916.01 555.42 360.59
245 68,703.19 916.01 552.53 363.48
246 68,336.80 916.01 549.63 366.39
247 67,967.49 916.01 546.69 369.32
248 67,595.21 916.01 543.74 372.27
249 67,219.96 916.01 540.76 375.25
250 66,841.71 916.01 537.76 378.25
251 66,460.43 916.01 534.73 381.28
252 66,076.10 916.01 531.68 384.33
253 65,688.70 916.01 528.61 387.40
254 65,298.19 916.01 525.51 390.50
255 64,904.57 916.01 522.39 393.63
256 64,507.79 916.01 519.24 396.78
257 64,107.84 916.01 516.06 399.95
258 63,704.69 916.01 512.86 403.15
259 63,298.31 916.01 509.64 406.38
260 62,888.69 916.01 506.39 409.63
261 62,475.78 916.01 503.11 412.90
262 62,059.58 916.01 499.81 416.21
263 61,640.04 916.01 496.48 419.54
264 61,217.15 916.01 493.12 422.89
265 60,790.87 916.01 489.74 426.28
266 60,361.19 916.01 486.33 429.69
267 59,928.07 916.01 482.89 433.12
268 59,491.48 916.01 479.42 436.59
269 59,051.40 916.01 475.93 440.08
270 58,607.79 916.01 472.41 443.60
271 58,160.64 916.01 468.86 447.15
272 57,709.92 916.01 465.29 450.73
273 57,255.58 916.01 461.68 454.33
274 56,797.61 916.01 458.04 457.97
275 56,335.98 916.01 454.38 461.63
276 55,870.66 916.01 450.69 465.32
277 55,401.61 916.01 446.97 469.05
278 54,928.81 916.01 443.21 472.80
279 54,452.23 916.01 439.43 476.58
280 53,971.83 916.01 435.62 480.39
281 53,487.60 916.01 431.77 484.24
282 52,999.48 916.01 427.90 488.11
283 52,507.47 916.01 424.00 492.02
284 52,011.51 916.01 420.06 495.95
285 51,511.59 916.01 416.09 499.92
286 51,007.67 916.01 412.09 503.92
287 50,499.72 916.01 408.06 507.95
288 49,987.71 916.01 404.00 512.01
289 49,471.60 916.01 399.90 516.11
290 48,951.36 916.01 395.77 520.24
291 48,426.95 916.01 391.61 524.40
292 47,898.36 916.01 387.42 528.60
293 47,365.53 916.01 383.19 532.83
294 46,828.44 916.01 378.92 537.09
295 46,287.06 916.01 374.63 541.39
296 45,741.34 916.01 370.30 545.72
297 45,191.26 916.01 365.93 550.08
298 44,636.78 916.01 361.53 554.48
299 44,077.86 916.01 357.09 558.92
300 43,514.47 916.01 352.62 563.39
301 42,946.57 916.01 348.12 567.90
302 42,374.13 916.01 343.57 572.44
303 41,797.11 916.01 338.99 577.02
304 41,215.47 916.01 334.38 581.64
305 40,629.18 916.01 329.72 586.29
306 40,038.21 916.01 325.03 590.98
307 39,442.50 916.01 320.31 595.71
308 38,842.03 916.01 315.54 600.47
309 38,236.75 916.01 310.74 605.28
310 37,626.63 916.01 305.89 610.12
311 37,011.63 916.01 301.01 615.00
312 36,391.71 916.01 296.09 619.92
313 35,766.83 916.01 291.13 624.88
314 35,136.95 916.01 286.13 629.88
315 34,502.04 916.01 281.10 634.92
316 33,862.04 916.01 276.02 640.00
317 33,216.92 916.01 270.90 645.12
318 32,566.65 916.01 265.74 650.28
319 31,911.17 916.01 260.53 655.48
320 31,250.44 916.01 255.29 660.72
321 30,584.43 916.01 250.00 666.01
322 29,913.10 916.01 244.68 671.34
323 29,236.39 916.01 239.30 676.71
324 28,554.27 916.01 233.89 682.12
325 27,866.69 916.01 228.43 687.58
326 27,173.61 916.01 222.93 693.08
327 26,474.99 916.01 217.39 698.62
328 25,770.77 916.01 211.80 704.21
329 25,060.93 916.01 206.17 709.85
330 24,345.40 916.01 200.49 715.53
331 23,624.15 916.01 194.76 721.25
332 22,897.13 916.01 188.99 727.02
333 22,164.30 916.01 183.18 732.84
334 21,425.60 916.01 177.31 738.70
335 20,680.99 916.01 171.40 744.61
336 19,930.42 916.01 165.45 750.56
337 19,173.85 916.01 159.44 756.57
338 18,411.23 916.01 153.39 762.62
339 17,642.51 916.01 147.29 768.72
340 16,867.64 916.01 141.14 774.87
341 16,086.57 916.01 134.94 781.07
342 15,299.25 916.01 128.69 787.32
343 14,505.63 916.01 122.39 793.62
344 13,705.66 916.01 116.05 799.97
345 12,899.29 916.01 109.65 806.37
346 12,086.47 916.01 103.19 812.82
347 11,267.15 916.01 96.69 819.32
348 10,441.28 916.01 90.14 825.88
349 9,608.79 916.01 83.53 832.48
350 8,769.65 916.01 76.87 839.14
351 7,923.80 916.01 70.16 845.86
352 7,071.17 916.01 63.39 852.62
353 6,211.73 916.01 56.57 859.44
354 5,345.41 916.01 49.69 866.32
355 4,472.16 916.01 42.76 873.25
356 3,591.93 916.01 35.78 880.24
357 2,704.65 916.01 28.74 887.28
358 1,810.27 916.01 21.64 894.38
359 908.74 916.01 14.48 901.53
360 0.00 916.01 7.27 908.74

A bit of theory


We programmed this calculator to familiarize ourselves with time series, geometric series, and the value of money over time. Interest is the price of money. If I borrow money at 5% interest per year, for example, 1000 euros, I have to pay back 1050 euros in a year.
The thing about a mortgage is that it's a lifetime loan, as people say. A person wants to buy, e.g., a large family home that costs, for example, a hundred times his monthly income. He doesn't want to eat or drink for 100 months, just save money, but he wants the house immediately. More precisely, it means that a person says to himself, I am willing to repay 250 euros every month but for 30 years.
This will hurt me less than deferring the entire salary for 10 years, not going anywhere on holidays, and living entirely ascetically. So I went to the bank and told them about my income. The bank will deduct living wages for me and my children if I have any. He will calculate how much I actually have left for the mortgage payment. Then, it calculates how many years I will be able to earn. There is a difference between taking a mortgage as a 20-year-old and another as a 50-year-old. The closer to retirement, the less the bank will lend. It's logical. The bank multiplies both data, the amount of the possible repayment and the number of months of repayment, and we get the maximum mortgage amount. This is a limited amount that we can pay for our dream house. That's why we only look at ads up to the maximum mortgage amount. The bank will not lend us more. Spouses are at an advantage as their income is added together.

To make lending money a bit fair, interest is always paid only on the amount owed. That is the essence of a mortgage loan. I pay practically the same installments over a long period, and my credit is gradually being reduced. At the end of the agreed period, I will fully repay the debt to the bank with the last installment. At the beginning of the repayment, I owed a lot of money, so most of the repayment was interest. However, the principal is gradually repaid, and the total debt decreases. The task of this calculator is to calculate the amount of one installment and the entire installment schedule. It's an excellent algorithmic problem that you can't just calculate on a calculator, but it's easy and fun for a computer.

I have respect for people who have mortgages and who have committed themselves to work for, for example, 30 years straight; they will rule. When they live to be in their 60s, for example, they pay the last installment, and the obligation is repaid. Of course, few people take out a lifetime mortgage. Most have something set aside and apply for a mortgage for, for example, 15-20 years. But still, it's a considerable period. In just my 40 years of life, I was paid in 3 currencies - Czechoslovak crown 1 CZK, Slovak crown 1 Ks, and the euro. By that, the world in another 20 years will probably be completely different.

A mortgage is a lifetime loan, usually based on real estate. I want the maximum amount of money from the bank that I will be able to pay back while I am alive (e.g., work until retirement age).

Similarly, other variants of mortgage loans are also possible, such as reconstruction or extension. For example, I own a property and don't want to work. This is done by taking out a mortgage on the property while I can work. I will start a real estate. The bank sends money to my account, which I send back in small installments. In addition, I am either looking for a real estate buyer or a job. The property can be sold with a mortgage, which is usually done that way.

A reverse mortgage is when I want money in the value of the property on the account; I want to spend it, e.g., traveling the world. However, I still need the property to live in. So I will reverse mortgage it - the bank will own it only after my death, not the heirs. I have the money immediately, and the bank the property only after my death. Ideal for childless people or those who want to avoid disputes between heirs and, for example, divide the reverse mortgage between themselves and the heirs in a proportion according to their discretion. It also solves the problem of the heirs, that they don't have to wait for the inheritance... but enjoy the property of their parents when they need it the most. Not until the death of the testators.