What is "Mortgage"?

A mortgage is a loan secured by real estate property. Typically, based on LTV (Loan-to-Value) ratio, you can borrow 40-70% of the property value and repay the principal and interest over 10-30 years.

Example: $500,000 property, 50% LTV → Maximum $250,000 loan

🏠 Mortgage Calculator

Loan Amount3.0억원

Annual Interest Rate (%)4.5%

Loan Term (Years)

Payment Type

Monthly Payment

152만원

Total Payment

5.5억원

Total Interest

2.5억원

82.4% of principal

📊 Principal vs Interest

Principal 54.8%

Interest 45.2%

Principal

3.0억원

Interest

2.5억원

📅 Payment Schedule

Year	Annual Payment	Principal	Interest	Balance
1	18,240,671원	4,839,680원	13,400,991원	3.0억원
2	18,240,671원	5,062,014원	13,178,657원	2.9억원
3	18,240,671원	5,294,562원	12,946,109원	2.8억원
4	18,240,671원	5,537,793원	12,702,878원	2.8억원
5	18,240,671원	5,792,199원	12,448,472원	2.7억원
6	18,240,671원	6,058,291원	12,182,380원	2.7억원
7	18,240,671원	6,336,608원	11,904,063원	2.6억원
8	18,240,671원	6,627,711원	11,612,960원	2.5억원
9	18,240,671원	6,932,187원	11,308,484원	2.5억원
10	18,240,671원	7,250,650원	10,990,021원	2.4억원
... Total 30 years

💰 Interest Rate Comparison

Rate	Monthly	Total Interest	Difference
3.5%	1,347,134원	1.8억원	-62,251,872원
4.0%	1,432,246원	2.2억원	-31,611,616원
4.5%	1,520,056원	2.5억원	+0원
5.0%	1,610,465원	2.8억원	+3255만원
5.5%	1,703,367원	3.1억원	+6599만원

🏠

Mortgage Calculation Result

Monthly 152만원

✨ Total interest 2.5억원

Loan 3.0억원, 4.5% rate, 30 years

💡 Figure it out together

Better when calculated together

#MortgageCalculator #HomeLoan #InterestRate

Important Note

This calculator is for reference only. Actual loan terms may vary based on lender, credit score, and collateral value. Contact your financial institution for accurate information.

Last updated: 2025-01

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🎯 Who is this for?

Useful for various situations

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Found a lower rate? Compare the benefits of refinancing your mortgage.

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With extra cash, should you prepay or invest? Find out here.

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Newlywed Specials

Special newlywed loans offer lower rates and higher limits.

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Expert Tip

Reducing your rate by just 0.5% on a $300,000 loan saves ~$30,000 over 30 years. Compare multiple banks and use rate reduction rights. Also, fixed principal repayment saves 10-15% in total interest vs. fixed payment.

— Real Estate Finance Expert

❓ Frequently Asked Questions

What is the monthly payment on a $300,000 mortgage?

For $300,000 at 4% over 30 years with fixed payment: ~$1,430/month. With fixed principal: starts at $1,830 and decreases. Fixed principal saves ~$15,000 in total interest.

💡 A 0.5% rate decrease saves about $80/month!

Fixed payment vs fixed principal - which is better?

Fixed principal saves more on total interest but has higher initial payments. If you need stable payments now, choose fixed payment. You can always make extra payments later when you have more income.

💡 Check prepayment penalties before refinancing!

What are LTV, DTI, and DSR?

LTV is loan-to-value ratio (loan limit vs property value), DTI is debt-to-income (loan payments vs income), DSR is debt service ratio (all loan payments vs income). Regulated areas limit LTV to 40-50% and DSR to 40%.

💡 Use our calculator to check your DSR too!

Fixed rate or variable rate - which should I choose?

Choose fixed if you expect rates to rise, variable if you expect them to fall. Mixed rate (fixed for 3-5 years, then variable) is a good middle ground. For long-term loans, fixed rate is safer.

How long do I have to pay prepayment penalties?

Most banks charge prepayment fees (0.5-1.4%) within the first 3 years. After 3 years, it is usually waived. Some banks allow 10-20% annual prepayment without fees.

📌 Key Takeaways

💰A 0.5% rate reduction saves tens of thousands over 30 years
📉Fixed principal saves 10-15% on total interest vs fixed payment
📋Check LTV and DSR regulations before applying
⏰Prepayment penalties often waived after 3 years

What is a Mortgage?

A mortgage is a loan secured by real estate property. Typically, you can borrow 40-70% of the property value, and monthly payments vary significantly based on interest rates and repayment methods.