Home Loan and Mortgage Calculator

Updated on July 29, 2014 by 10 Comments

This is a home loan / mortgage calculator that calculates the monthly amortization payments for loans that have a diminishing balance. The principal and interest are combined in the monthly payments.

Home loan and mortgage calculator

How to useOnline Home Loan and Mortgage Calculator

To calculate for your monthly amortization payments, just enter the values in the fields for data input:

  • Selling Price – This is the selling price of the property you want to buy in Philippine Peso (PHP)
  • Downpayment in % –  This is the downpayment amount you intend to pay upfront in percent
  • Loan Term in Years – This is the number of years you intend to pay the home loan
  • Interest rate in % – This is the annual or yearly interest rate (get this from the listing or the bank/seller)

Explanation of calculated results

After entering the values, the following are automatically calculated and displayed:

  • Downpayment amount – This is the calculated downpayment amount in PHP based on the downpayment percentage you entered, if any. Can also be referred to as the buyer’s equity.
  • Loan amount – This is the selling price less downpayment amount, if any.
  • Gross Income Requirement – This is the calculated Gross Income you need to have in order to qualify for a loan. The monthly amortization should not exceed 40% of the Gross Income, and Gross Income can be calculated by simply dividing monthly amortization by 40%.
  • Monthly amortization – This is the calculated monthly amortization payments in PHP.


The amounts you will get above are for reference purposes only. Always get the actual amount from the bank/lending institution. As always, our standard site disclaimer applies.


Manually compute for monthly amortizations

How to calculate for amortization payments – If you want to double-check the amounts you got above, you can compute for your monthly amortization payments manually. Check this article for instructions.

Image courtesy: of renjith krishnan / FreeDigitalPhotos

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