Mortgage
Your monthly payment, total interest and a year-by-year table, for three kinds of rate.
Fixed: one rate for the whole loan. Variable: Euribor plus the bank's margin, so the payment moves when Euribor moves. Fixed, then variable: a fixed rate for the first few years, then variable. Change the Euribor path to see what a rise or fall would do.
Result
With these numbers, the fixed-then-variable scenario has the lowest total interest: €108,939.
Fixed
Monthly payment€1,034
Total interest€110,114
Total paid€310,114
Variable
Monthly payment€1,056
Total interest€116,702
Total paid€316,702
Fixed, then variable
Monthly payment€980, up to €1,042
Total interest€108,939
Total paid€308,939
Year by year
| Year | Rate | Monthly payment | Interest | Principal | Balance left |
|---|---|---|---|---|---|
| 1 | 3.8% | €1,034 | €7,515 | €4,889 | €195,111 |
| 2 | 3.8% | €1,034 | €7,326 | €5,078 | €190,033 |
| 3 | 3.8% | €1,034 | €7,130 | €5,275 | €184,758 |
| 4 | 3.8% | €1,034 | €6,926 | €5,479 | €179,280 |
| 5 | 3.8% | €1,034 | €6,714 | €5,690 | €173,589 |
| 6 | 3.8% | €1,034 | €6,494 | €5,910 | €167,679 |
| 7 | 3.8% | €1,034 | €6,266 | €6,139 | €161,540 |
| 8 | 3.8% | €1,034 | €6,028 | €6,376 | €155,164 |
| 9 | 3.8% | €1,034 | €5,782 | €6,623 | €148,541 |
| 10 | 3.8% | €1,034 | €5,526 | €6,879 | €141,662 |
| 11 | 3.8% | €1,034 | €5,260 | €7,145 | €134,517 |
| 12 | 3.8% | €1,034 | €4,983 | €7,421 | €127,095 |
| 13 | 3.8% | €1,034 | €4,696 | €7,708 | €119,387 |
| 14 | 3.8% | €1,034 | €4,398 | €8,006 | €111,381 |
| 15 | 3.8% | €1,034 | €4,089 | €8,316 | €103,065 |
| 16 | 3.8% | €1,034 | €3,767 | €8,637 | €94,427 |
| 17 | 3.8% | €1,034 | €3,433 | €8,972 | €85,456 |
| 18 | 3.8% | €1,034 | €3,086 | €9,318 | €76,137 |
| 19 | 3.8% | €1,034 | €2,726 | €9,679 | €66,459 |
| 20 | 3.8% | €1,034 | €2,352 | €10,053 | €56,406 |
| 21 | 3.8% | €1,034 | €1,963 | €10,442 | €45,964 |
| 22 | 3.8% | €1,034 | €1,559 | €10,846 | €35,118 |
| 23 | 3.8% | €1,034 | €1,140 | €11,265 | €23,853 |
| 24 | 3.8% | €1,034 | €704 | €11,701 | €12,153 |
| 25 | 3.8% | €1,034 | €252 | €12,153 | €0 |
What this leaves out
- Bank fees, insurance the bank requires, and any levies on the loan.
- How often the rate resets. Here it resets once a year; real variable loans often reset every 3 or 6 months.
- Caps, floors or other terms in your contract.
General information only, not financial advice. Future Euribor rates are unknown; the path here is only what you enter. For a decision about your own loan, talk to a qualified adviser.