# Graphical Mortgage Repayment Calculator

- Author:
- Micky Bullock

Calculate your monthly repayments, or simply input your monthly budget to calculate how long it will take to pay off your mortgage.

**Instructions**In its default state, you set the total term by dragging the green blob. (Total term is the time it will take to pay off your mortgage, e.g. 25 years) The applet will calculate the monthly repayments.

*This allows you to input the interest rate and the duration it is fixed for, along with an estimate of the new rate it will switch to when the fixed rate expires. (If unsure, leave this at 1% higher than the fixed rate.)*

**Consider what happens after fixed rate ends***If you know exactly what you can afford each month, the applet will calculate how long it will take to pay off your mortgage. Input your monthly budget; then, using the vertical slider, select whether this refers to the fixed or the variable interest rate. (If you select fixed, be aware that you may not be able to afford the monthly repayments when the fixed rate period ends.)*

**I know my precise monthly budget****Total cost of mortgage**is calculated by adding up all the monthly payments over the total term and subtracting the amount borrowed. Figures are approximate but reasonably accurate. If you have any comments, queries or suggestions, please write to me: admin@mickybullock.com