Calculate your monthly payments.

Want to know what the gross and net monthly payments for your mortgage will be? With the calculator above you receive the result of the calculation in your email right after you submit it.

This calculation answers the following questions:

• What will your gross and net monthly payments be?
• How much can you borrow at most?
• What price range can you buy in?
• What will your monthly payments be after refinancing?

We may contact you to go through the calculation together.

The mortgage interest you owe and the repayments are important parts of your monthly payments, but there are many more factors:

• the size of the mortgage debt compared to the value of the home;
• the type of mortgage you choose;
• the term of the mortgage;
• whether or not you have a National Mortgage Guarantee (NHG);
• the insurance policies linked to the mortgage;
• the fixed-interest period you choose.

Calculating your monthly payments yourself

The most popular types of mortgage are the annuity mortgage and the linear mortgage. The linear mortgage is a simple type of mortgage whose monthly payments are easy to calculate. Every month you repay a fixed amount over the term.

Suppose the mortgage debt is €216,000 and you pay it off over 30 years. Each month you then repay: €216,000 / 360 months = €600 per month. You pay monthly mortgage interest over the remaining mortgage debt.

With the annuity mortgage the calculation is a lot more complex. Each month you pay a fixed amount, but the composition changes: the repayment portion keeps growing and the interest you owe keeps shrinking.

How much mortgage can you get?

You also calculate your monthly mortgage payments to find out how much you can spend on a home of your own. It is important not to look only at the maximum the mortgage provider is willing to give you. Your housing costs should be comfortably affordable without sacrificing your quality of life. Also take possible risks into account: in the future you may earn less or become unable to work, for example.

Which types of mortgage can you choose?

If we look at newly taken out mortgages, most homebuyers choose an annuity mortgage. This type of mortgage has the advantage that the monthly payments are lower in the first years than with the linear mortgage. Over the entire term, the annuity mortgage is ultimately more expensive, because with a linear mortgage you repay the mortgage debt faster.

The payments are higher in the first years, but the linear mortgage offers many advantages in the longer term:

• you repay faster and pay less mortgage interest over the entire term;
• you are better protected against falling house prices;
• a little cheaper every month;
• you can make extra repayments more easily.

How do you calculate the gross monthly payments of your mortgage?

People often talk about gross and net monthly payments. The gross monthly payments consist of the amount the mortgage provider collects from you each month. This is the amount without the tax benefit and excluding the addition. The gross monthly payment is the repayment plus the interest you owe and any insurance policies linked to your mortgage. We are happy to help you calculate the gross monthly payments.

How do you calculate the net monthly payments of your mortgage?

You calculate the net monthly payments based on the gross monthly payments. You may deduct the mortgage interest paid for your home from the gross income on which you pay tax (the mortgage interest deduction). At the same time, an amount is added to your income: the imputed home value, a percentage of the WOZ value of your home. You calculate the tax benefit by offsetting the deduction against that addition. It is a complex calculation, which is why we are happy to help.

The net monthly payments of your mortgage depend on the level of your income, because the tax on income is progressive. You pay a higher rate over the top of your income.

These days you can no longer deduct the mortgage interest paid at your highest rate: the mortgage interest deduction still applies at the basic rate of income tax. Keep in mind that this limits the net benefit compared to the past.

Calculating the extra costs of your mortgage

Buying a home and taking out a mortgage involve many costs. Think of transfer tax, notary fees, valuation costs and brokerage fees. These additional costs are partly deductible from your income. Financing them within your mortgage is now only possible if the home value is higher than the mortgage: you can borrow up to a maximum of 100% of the home value.

For a complete overview of your mortgage costs, you also include the necessary insurance policies. Contents insurance and home insurance are not part of the mortgage costs, but any term life insurance and/or housing cost insurance are. For the total calculation, it is best to start from the amount you have to pay for the home each month: the gross mortgage costs.

Expert mortgage advice

Want to know more about your mortgage options? Request a free, no-obligation orientation meeting with a mortgage adviser from HypotheekBerekenen.nl.