Mortgage Calculator
Estimate your monthly home loan payment, total interest, and payoff date — with an optional breakdown for property tax and homeowners insurance.
Home Loan Calculator
Amortizing loan · Optional taxes & insurance
How the home loan calculator works
This calculator uses standard amortization — the same declining-balance formula Philippine banks apply to housing loans. You enter the property price, your down payment, the annual interest rate, and the term in years, and it computes the monthly amortization, the total interest you will pay over the life of the loan, and the total cost of the house once financing is included.
In the Philippines, bank housing loans are usually quoted with a fixing period: the rate is locked for one, three, five, or ten years, then repriced against prevailing market rates. Because nobody can predict the repriced rate, the honest way to plan is to compute your amortization at your current rate, then re-run it two or three percentage points higher to see whether the payment would still fit your budget after repricing.
Lenders also apply a debt-to-income limit. Most banks want your total monthly loan payments — housing, car, credit cards, and personal loans combined — to stay at or below roughly 30 to 40 percent of your gross monthly income. If the amortization here exceeds that share of your pay, expect the bank to approve a smaller principal or a longer term rather than the amount you asked for.
- Bigger down payment, smaller loan: paying 20 percent instead of 10 percent cuts both the monthly amortization and the total interest, and often earns a better rate.
- A longer term lowers the monthly payment but raises total interest sharply — compare a 15-year and a 20-year run before deciding.
- Budget for costs this calculator does not include: appraisal and processing fees, mortgage redemption insurance, fire insurance, documentary stamp tax, notarial fees, and registration.
- Pag-IBIG housing loans are often cheaper than bank loans for lower loan amounts, so compare both before signing.
Frequently asked questions
How much income do I need for a housing loan in the Philippines?
As a rule of thumb, banks want the monthly amortization to be no more than about 30 to 40 percent of your gross monthly income, so multiply the amortization shown here by roughly 3 and treat that as the minimum monthly income the lender will look for. Co-borrowers can combine incomes to qualify.
Is it better to get a Pag-IBIG housing loan or a bank housing loan?
Pag-IBIG usually wins on rate for smaller loans and for members with modest income, and it allows terms of up to 30 years. Banks tend to be faster to process, more flexible on property type, and more competitive for high loan amounts. Compute both — our Pag-IBIG housing loan calculator uses the official fixed pricing rates.
What happens to my payment when the fixing period ends?
The bank reprices your loan against prevailing rates, and your amortization is recalculated for the remaining balance and remaining term. If rates rose, your payment rises. Run this calculator again with a rate two or three points higher to stress-test your budget before you commit.
Does paying extra each month actually help?
Yes. Extra payments applied to principal shrink the balance that interest is charged on, so they cut both your total interest and your payoff time. Confirm with your bank that prepayments are applied to principal and check whether a pre-termination fee applies.