Compute for monthly amortization payments and required income with our home loan calculator. Use this for real estate mortgages and installment housing loans from any bank/lending institution in the Philippines where the principal and interest are combined. Check it out below.
Home loan Philippines calculator
How to use our home loan 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 Monthly Income Requirement – This is the calculated Gross Monthly Income you need to have in order to qualify for a home loan. In the Philippines, the monthly amortization should not exceed 40% of the Gross Monthly Income, and Gross Monthly Income can be calculated by simply dividing the monthly amortization by 40%.
- Monthly amortization – This is the calculated monthly amortization payments in Philippine Peso or PHP.
Applicable for real estate mortgages and other types of home loans in the Philippines
As mentioned above, you can use this calculator if you plan on getting a real estate mortgage loan and other types of housing loans available in the Philippines.
Aside from a real estate mortgage, installment payments through a Contract-To-Sell are also common in the Philippines, and you can also use our home loan calculator for these types of home loans.
Use for home loans from any bank/lending institution in the Philippines
You can use our home loan calculator to double-check estimates/sample computations from any bank/lending institution in the Philippines.
Simply change the interest rate and loan term that is being offered to you by the bank/lending institution so you can quickly compare and check.
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.