Mortgage Calculator
Enter home price and loan details.
How to Use the Mortgage Calculator
This mortgage calculator Nigeria helps you estimate your monthly mortgage payment, total interest, and total cost of buying a home.
Follow the steps below:
1. Enter the Home Price
In the “Home Price (₦)” field, enter the full price of the property you want to buy.
Example: 25,000,000
2. Enter the Down Payment
In “Down Payment (₦)”, enter the amount you will pay upfront.
- This amount is deducted from the home price.
- If you are not making a down payment, enter
0.
3. Enter the Annual Interest Rate
In “Annual Rate (%)”, enter the interest rate charged per year by the mortgage lender.
Example:18 = 18% annual interest
4. Enter the Loan Term
In “Loan Term (years)”, enter how many years you will take to repay the mortgage.
Common options are 10, 15, 20, or 30 years.
5. View Your Results Instantly
The calculator updates automatically and shows:
- Monthly Payment – the amount you pay every month
- Loan Amount – home price minus down payment
- Total Interest – interest paid over the life of the loan
- Total Cost – total amount paid including the down payment
All values are displayed in Nigerian Naira (₦).
6. Clear the Calculator
Click the “C” button to reset all fields and start a new calculation.
Disclaimer
This mortgage calculator is provided for informational and educational purposes only.
All results shown are estimates based on the values you enter and standard mortgage calculation formulas. The calculator does not take into account additional costs such as property taxes, insurance, legal fees, processing fees, or changes in interest rates.
This tool does not constitute financial, legal, or investment advice. Loan terms, interest rates, and repayment conditions may vary depending on the lender, borrower eligibility, and market conditions.
Before making any financial decisions, you should consult a qualified financial advisor or mortgage provider to confirm the exact terms and costs of your loan.
By using this calculator, you acknowledge and agree that the website and its owners are not responsible for any decisions made based on the results provided.