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Online Mortgage Calculator - Calculate Home Loan Installments

Free mortgage calculator for home loan simulation. Enter the house price, down payment, interest rate, and tenor to get estimated monthly installments, total interest paid, and a complete annual amortization schedule. Ideal for comparing bank mortgage offers.

Mortgage Calculation Formula (Annuity)

M = P × [r(1+r)ⁿ] / [(1+r)ⁿ-1]Formula: M = Monthly installment, P = Loan principal (house price - DP), r = Interest per month, n = Number of months

Variables:

  • MMonthly installment to be paid
    Monthly installment to be paid(e.g.: Rp 3,000,000/month)
  • PLoan principal (house price - DP)
    Loan principal (house price - DP)(e.g.: Rp 400,000,000)
  • rInterest rate per month (annual interest ÷ 12)
    Interest rate per month (annual interest ÷ 12)(e.g.: 0.5% per month (6%/year))
  • nTenor/repayment period in months
    Tenor/repayment period in months(e.g.: 240 months (20 years))

How to Use the Mortgage Calculator

  1. 1

Examples

Example 1: Subsidized Housing Mortgage

Problem:

Subsidized house IDR 150,000,000, down payment IDR 30,000,000, interest 5% per year, 20-year tenor (240 months).

Solution:
  1. 1.P = 150,000,000 - 30,000,000 = 120,000,000
  2. 2.r = 5%/12 = 0.4167% = 0.004167
  3. 3.n = 240 months
  4. 4.M = 120,000,000 × [0.004167(1.004167)²⁴⁰] / [(1.004167)²⁴⁰-1]
  5. 5.M ≈ IDR 791,000/month
Result:IDR 791,000/month

Total payment IDR 189,840,000, total interest IDR 69,840,000 over 20 years.

Example 2: Mid-Range Housing Mortgage

Problem:

House IDR 500,000,000, down payment IDR 100,000,000, interest 7% per year, 15-year tenor (180 months).

Solution:
  1. 1.P = 500,000,000 - 100,000,000 = 400,000,000
  2. 2.r = 7%/12 = 0.5833% = 0.005833
  3. 3.n = 180 months
  4. 4.M = 400,000,000 × [0.005833(1.005833)¹⁸⁰] / [(1.005833)¹⁸⁰-1]
  5. 5.M ≈ IDR 3,592,000/month
Result:IDR 3,592,000/month

Total payment IDR 646,560,000, total interest IDR 246,560,000 over 15 years.

Example 3: Apartment Mortgage

Problem:

Apartment IDR 800,000,000, down payment IDR 160,000,000, interest 9% per year, 25-year tenor (300 months).

Solution:
  1. 1.P = 800,000,000 - 160,000,000 = 640,000,000
  2. 2.r = 9%/12 = 0.75% = 0.0075
  3. 3.n = 300 months
  4. 4.M = 640,000,000 × [0.0075(1.0075)³⁰⁰] / [(1.0075)³⁰⁰-1]
  5. 5.M ≈ IDR 5,368,000/month
Result:IDR 5,368,000/month

Total payment IDR 1,610,400,000, total interest IDR 970,400,000 over 25 years.

Frequently Asked Questions

What is the difference between KPR and KPA?
KPR (Home Ownership Loan) is specifically for houses, while KPA (Apartment Ownership Loan) is for apartments. Generally, the calculation methods are the same, but interest rates and down payment requirements may differ.
What is the minimum down payment for a mortgage?
The minimum down payment for a conventional mortgage is generally 20% of the property price. However, for subsidized mortgages, the down payment can be lower (5-10%). Some banks offer 0% down payment mortgages with higher interest rates.
What is the difference between fixed and floating interest rates?
A fixed rate means the interest rate remains constant throughout the loan term (e.g., 7% for 20 years). A floating rate fluctuates based on the central bank's benchmark rate, meaning your monthly installments can go up or down.
What happens if I pay off my mortgage early?
Most banks allow early repayment, subject to a penalty of 1-3% of the remaining principal. Some banks waive the penalty after a certain period. Always check your mortgage contract for specific terms.
Are subsidized mortgage interest rates lower?
Yes, government-subsidized mortgages (FLPP) offer interest rates below the market average, typically fixed at 5% for the entire term. However, these are only available for specific properties with price caps set by the government.
How do I compare mortgage offers from different banks?
Compare interest rates, maximum loan terms, administrative fees, appraisal fees, and early repayment penalties. Use a mortgage calculator to simulate each scheme and identify which one offers the lowest total cost.
Can mortgage installments change during the loan term?
For fixed-rate mortgages, installments remain constant. For floating-rate mortgages, installments change if the benchmark interest rate changes. Some banks offer a hybrid scheme: a fixed rate for the first few years, followed by a floating rate.
What is an amortization schedule?
An amortization schedule is a table showing your monthly or annual payments, broken down by principal and interest. Early in the loan term, the interest portion is higher; toward the end, the principal portion becomes larger.

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References