Mortgage Calculator Instantly

Key Features and Benefits

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  Amortization Schedule — See a month-by-month breakdown of every payment over the life of the loan. Each row shows how much goes to principal and how much goes to interest. In the early years, the majority of your payment services interest — a 30-year loan at 4 percent interest allocates roughly 67 percent of the first payment to interest. By the final years, that ratio flips. The schedule makes this shift visible so you understand where your money is going at every stage.
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  Fixed vs Variable Rate Modeling — Toggle between fixed-rate and variable-rate scenarios. For variable rates, input the initial rate, the adjustment period, and a projected rate ceiling. The calculator shows you best-case, expected-case, and worst-case payment trajectories. This helps you gauge the risk of choosing a lower starting rate that could climb over time versus the security of locking in a fixed rate from day one.
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  Prepayment Analysis — Enter a recurring extra payment — say 200,000 won per month — and watch the amortization schedule shrink. Prepaying principal reduces total interest and shortens the loan term. On a 300-million-won, 30-year loan at 4 percent, an extra 200,000 won per month saves approximately 46 million won in interest and pays off the loan about 7 years early. The calculator quantifies these savings so you can decide whether extra payments are worth the sacrifice in monthly cash flow.
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  Loan-to-Value Ratio Display — The LTV ratio — your loan amount divided by the property value — affects your eligibility for certain mortgage products and determines whether you need mortgage insurance. Korean financial regulations under the 주택담보대출 규제 set LTV caps that vary by region and borrower profile. The calculator displays your LTV automatically so you know whether your down payment meets regulatory thresholds before you approach a lender.
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  Total Cost Summary — Beyond the monthly payment, the calculator shows the total amount paid over the loan term and the total interest cost. A 300-million-won loan at 4 percent for 30 years costs approximately 215 million won in interest alone — meaning you pay 515 million won in total for a 300-million-won house. Seeing that total cost in one number has a way of sharpening your thinking about loan terms and rates.
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  Down Payment Scenarios — Adjust your down payment percentage and see how it affects monthly payments, total interest, and LTV ratio in real time. Putting 30 percent down instead of 20 percent on a 500-million-won property reduces your loan by 50 million won, lowers your monthly payment, and improves your LTV — potentially unlocking better interest rates from lenders.

How to Calculate Your Mortgage Payment

1. 1

   Determine the Property Price

   Start with the purchase price of the home you are considering. In Korean real estate, the listed price and the actual transaction price can differ depending on the market and negotiation. Use the realistic transaction price, not the listed asking price. You can reference recent 실거래가 data from the Ministry of Land, Infrastructure and Transport (국토교통부) for comparable properties in the same neighborhood. Getting this number right is the foundation for every calculation that follows.

2. 2

   Enter Your Down Payment

   Your down payment is the portion of the purchase price you pay upfront in cash. In Korea, regulatory LTV limits — set by the Financial Services Commission (금융위원회) — cap the amount you can borrow. For speculative zones (투기지역), the LTV cap might be 40 percent, meaning you need a 60 percent down payment. In non-speculative areas, caps are typically 60 to 70 percent. Enter the amount or percentage you plan to put down. The calculator subtracts it from the purchase price to determine your loan principal.

3. 3

   Set the Interest Rate and Loan Type

   Enter the annual interest rate your lender has quoted — or use current market averages if you are still exploring. Select whether the loan is fixed-rate, variable-rate, or mixed. For variable-rate loans, input the initial rate and the adjustment frequency. Korean variable-rate mortgages commonly adjust every 6 or 12 months based on the COFIX rate published by the Bank of Korea. Understanding which benchmark your rate tracks helps you anticipate future payment changes.

4. 4

   Choose the Loan Term

   Common mortgage terms in Korea are 10, 15, 20, 30, and occasionally 40 years. A shorter term means higher monthly payments but dramatically less total interest. A 300-million-won loan at 4 percent costs about 215 million won in interest over 30 years but only about 131 million won over 20 years. The monthly payment difference between 20 and 30 years on that same loan is approximately 490,000 won. You are trading monthly cash flow for long-term savings. Pick the term that balances your monthly budget with your tolerance for total interest cost.

5. 5

   Review the Amortization Schedule

   Once you have entered all inputs, the calculator generates a complete payment schedule. Scroll through it to see the principal-interest split for each month. Notice how slowly principal decreases in the early years — this is a natural consequence of the amortization formula, not a trick by lenders. If you plan to sell or refinance within a specific timeframe, find that month in the schedule and check your remaining balance. That balance is what you would need to pay off or roll into a new loan.

6. 6

   Experiment With Prepayment

   Try adding an extra monthly payment amount and see how it changes the amortization timeline. Even small additional payments accelerate principal reduction because every extra won goes directly to principal — no interest is charged on it. Some Korean mortgages impose 중도상환수수료 (prepayment penalties) for the first three to five years, typically around 1 to 1.5 percent of the prepaid amount. Factor that penalty into your analysis if your loan includes one. After the penalty period expires, prepayment becomes purely beneficial.

Expert Tips for Mortgage Planning

Related Tools

A mortgage is the anchor of most household budgets, and understanding its true cost requires looking at the full financial picture. Use the Loan Interest Calculator to compare your mortgage against other borrowing options — sometimes refinancing shorter-term debt into a mortgage or vice versa changes the math in surprising ways. The Credit Card Interest Calculator reveals how high-rate revolving debt interacts with your long-term loan obligations. And the Salary After Tax Calculator confirms that your take-home pay — after income tax, national pension, and health insurance deductions — can actually support the monthly payment you are planning. Running all three alongside your mortgage estimate gives you a realistic view of what homeownership will cost you every month.