Mortgage Calculator
Calculate monthly payments for home loans with Philippine-specific options including Pag-IBIG financing.
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Enter your loan details and click "Calculate Mortgage" to see results.
💡 Tip: Try different down payment amounts
💡 Tip: Compare Pag-IBIG vs Bank loan options
Understanding Your Mortgage Calculation
How Mortgage Payments Work
Your monthly mortgage payment consists of two main components:
- Principal: The amount that goes toward paying down your loan balance
- Interest: The cost of borrowing money, calculated as a percentage of your remaining loan balance
Philippine-Specific Considerations
In the Philippines, mortgage options include:
- Pag-IBIG Housing Loan: Government-backed loans with lower interest rates for members
- Bank Loans: Conventional loans from commercial banks
- In-house Financing: Direct financing from developers (usually higher rates)
Down Payment Requirements
Philippine lenders typically require:
- Pag-IBIG: Minimum 10% down payment (up to 90% loan-to-value)
- Banks: Usually 20% down payment for new properties
- Secondary Market: May require 30% or more down payment
Additional Costs to Consider
Beyond your monthly payment, remember to budget for:
- Property Tax: Approximately 1% of property value annually
- Home Insurance: 0.35-0.55% of property value annually
- Transfer Taxes: 0.5-0.75% of selling price or zonal value
- Documentary Stamps: 1.5% of loan amount
- Notarial Fees: 1-2% of property value
- Registration Fees: 0.25% of property value
Disclaimer: This calculator provides estimates for informational purposes only. Actual loan terms may vary based on creditworthiness, property location, and lender policies. Always consult with a qualified financial advisor or lender for personalized advice.