About this mortgage calculator
Working out the monthly payment before buying a home is the first step in deciding whether — and how much — to buy. This calculator supports both equal-payment and equal-principal methods: enter the loan amount, term and annual rate to instantly get the monthly payment, total interest and total repayment, helping you judge whether it fits your income (the commonly recommended ceiling is 40% of household monthly income).
If you have spare cash and are weighing early repayment, use the comparison below: enter the month and amount, and the tool works out how much interest each option — shortening the term or reducing the payment — would save, plus the remaining term and new monthly payment, so you can balance interest saved against cash flow.
How to use
- Fill in the loan amount (in 10k CNY), term and annual rate under "Loan details" (3.1% is pre-filled; adjust to your bank's actual quote)
- Choose the repayment method: equal payment keeps the monthly amount fixed; equal principal decreases it month by month with less total interest
- Click "Calculate" to see the monthly payment, total interest and total repayment
- To compare, fill in the month and amount under "Early repayment comparison", then click "Compare"
FAQ
Annuity or linear — which is cheaper?
All else equal, equal principal costs less total interest: a fixed share of principal is repaid each month, so the balance — and thus interest — drops faster; the trade-off is a noticeably higher early payment. Households with stable income who prefer a predictable payment suit equal payment; those with higher income or planning early repayment save more with equal principal.
Shorten the term or lower the payment?
Purely on savings, shortening the term wins: with the payment unchanged, the reduced balance is paid down faster. Reducing the payment keeps the original term — lighter monthly pressure but less saved. Choose the shorter term to minimize total cost; choose the reduced payment to improve monthly cash flow.
Is there a prepayment penalty?
Most banks charge a penalty for early repayment within 1–3 years of disbursement — commonly one month's interest or 1% of the prepaid amount; check your loan contract. This tool excludes penalties from its calculation.
Does the result match my bank's deduction?
Results are estimates based on standard equal-payment / equal-principal formulas. The actual disbursed amount, rate type, payment date and rate reset date (January 1 each year or the disbursement anniversary) all affect real payments — refer to your bank's repayment schedule.
Related:Mortgage Calculator · Annuity · Linear · Prepayment · Payment calc · Mortgage rate