A mortgage loan is a type of loan granted by banks to individuals for purchasing, building, or renovating real estate. It is usually granted with a repayment term of 10 to 30 years and can have a fixed or variable interest rate.

The monthly payment is calculated based on the loan amount (property value minus down payment), the repayment term, and the interest rate. The calculator automatically divides the loan amount by the chosen number of months and applies interest for each period.

A down payment is the amount the buyer pays from personal funds before the bank approves the remainder through a loan. Banks usually require a minimum down payment of 10% to 20% of the property's value.

A fixed interest rate is an interest rate that remains unchanged for an agreed period, usually 3, 5, 10, or 15 years. During this period, the monthly payment stays the same regardless of market conditions.

After the fixed period ends, the interest rate may change based on market conditions. It is usually tied to Euribor (the European interbank reference rate) plus a fixed margin set by the bank.

Euribor (Euro Interbank Offered Rate) is the reference interest rate at which European banks lend to each other. Bank loans are often tied to Euribor to determine the variable interest rate.

When choosing a mortgage loan, it is important to compare: the interest rate (fixed and variable), the monthly payment, the total repayment amount, hidden costs, fees, and insurance.

The calculator is designed for informational calculations based on standard amortization formulas. Actual terms may vary depending on the bank, credit history, insurance, and other factors.

An amortization schedule is a table showing how the loan is repaid each month: how much goes toward principal, how much toward interest, and how much balance remains.

Yes. You can enter any interest rate, term, and down payment according to the bank's terms you are interested in. The calculator is not tied to a specific bank.

A one-time payment is an extra amount you enter in the calculator to see how it affects your loan. It is applied directly to the remaining principal, which can reduce the total interest paid and shorten the repayment period.

Use it when you already have an existing loan and plan to make an extra payment at a specific month. This helps you see how much you could save in interest and how much earlier you can finish the loan.

The calculator assumes the extra payment will reduce your loan term, keeping your monthly payment the same. This is the most common method used by banks, but your bank may offer other options.

No. The calculator shows savings without including any early repayment fees. Check your loan agreement or contact your bank to confirm if such fees apply.