The mortgage installment and its amount is valid for each borrower. Can you check it before signing? Are there any tools for this and what is important – are they free? Where to find a mortgage installment calculator? See if you can afford to buy real estate.

If you are currently considering the option of using a mortgage, then first analyze your budget and think about whether paying off such liability will not be too much of a burden for you. I will explain to you how you can easily calculate your mortgage installment.

## Mortgage installment, i.e. buy or rent?

Many of my friends, after years of renting an apartment, at some point in their lives gave up renting for the purchase of their M. The vast majority of them had to use a mortgage.

In a city such as Wrocław, the cost of renting an apartment is close to the monthly installment, so it’s hardly surprising that the popularity of mortgage loans is growing every year and more and more people are taking it into account.

The installment paid to the bank every month is treated as an investment in its own assets – and rightly so – after paying the loan, the borrower receives an apartment.

## Mortgage installment – what does the installment amount depend on?

Of course, the number of installments and the amount of credit have an impact on the installment amount. The loan installment consists of two parts:

- capital – is the amount borrowed from the bank. With each payment of the next installment, the debit balance decreases;
- interest – is the bank’s remuneration for granting the loan.

The interesting part is also divided into two components:

- variable reference rate – Good Finance (for loans in PLN). The rate is set in advance on the interbank market. Banks use Good Finance 3M (updated every 3 months) or Good Finance 6M (updated every 6 months).
- fixed margin – determined individually by the bank. Depending on the loan amount and own contribution, you can negotiate it.

## Calculate the mortgage installment. Use the installment calculator

Calculating the mortgage installment does not have to be so difficult. Especially if you use free and very easy to use tools that are available, e.g. on Sean Cole. This is, of course, a mortgage installment calculator.

Simulation of mortgage installments will help you check whether you can afford monthly mortgage installments.

Remember that the reference rate will change, so installments, even equal ones, will not be constant throughout the loan period. Lower Good Finance will make the installment lower, but Good Finance may also increase.

## Mortgage. Installment calculator – how to use it?

Mortgage installment calculators have been prepared so that anyone can use them without any problems. They are easy to use, intuitive and require entering only a few basic data, such as the loan amount, the number of installments, the loan period and interest rate. Based on this information, the tool automatically calculates the mortgage installment.

The installment amount is approximate because some banks will add additional costs to the installment, such as preparation fees or insurance.

If you have a loan to buy real estate and your financial situation has deteriorated so much that it does not allow you to pay back the required installments, it is also possible to reduce the mortgage installment. Immediately report to the bank that gave you funding and ask about the possibilities.

If you want to buy your first apartment in the near future, first calculate the mortgage installment for different loan amounts.

Thanks to this, you will easily find out how much credit you can take, without worrying about its repayment later. Calculate the mortgage installment using a professional but easy to use calculator.