Mortgage Financing Calculator and Installment Simulation
Simulate real estate financing installments and mortgages. Find out the interest paid, the total amount and the complete repayment schedule.
What is the purpose?
This calculator simulates real estate financing and mortgages using the Price system (fixed installments). Ideal for comparing scenarios before signing a contract with the bank, calculating how much down payment is needed and planning early repayments to reduce interest.
Formula Used
The calculation of the monthly amortization installment (Price/French system) is based on the mathematical formula:
Parcela (PMT) = P × i × (1 + i)n(1 + i)n - 1
Where:
- P = Amount financed (Price of the property minus the down payment)
- i = Monthly interest rate (Annual rate divided by 12)
- n = Total number of installments (Years of financing multiplied by 12)
How to interpret the result?
The result displays:
- Monthly Installment: The fixed amount paid monthly relating to principal and interest.
- Total Interest: The sum of all interest paid over the years.
- Total Amount Paid: The sum of all installments at the end of the contract.
- Amortization Table: Debit balance decreasing month by month.
Practical Examples
Property worth 300.000,00 com entrada de 60,000.00 (financing of $ 240,000.00) at an annual rate of 9% (0.75% per month) for 20 years (240 months):
- The monthly installment (PMT) will be $ 2,159.38.
- The total amount paid at the end of the contract will be $518,250.91.
- The total accumulated interest paid will be $ 278,250.91.
Usage Tips
- Make a larger down payment whenever possible to reduce the principal balance and save significantly on interest.
- Consider making extraordinary repayments periodically (amortizing installments of the outstanding balance) to reduce the financing term.
- Remember that banks also charge mandatory home insurance that slightly increases the final installment.
Important Observations
This calculator uses the Price system with fixed and constant nominal interest rates. Systems with floating rates or adjustments based on government rates (such as TR or IPCA) may present variable installments in reality.
Frequently Asked Questions (FAQ)
What is real estate financing and how does it work?
Real estate financing is a long-term loan granted by banks or Caixa Econômica Federal for the purchase of properties. The buyer pays a down payment (normally 20% of the value) and the bank finances the remainder in monthly installments that include repayment of principal and interest, generally over 15 to 35 years.
What is the difference between the Price system and SAC?
In the Price system, installments are fixed throughout the contract (easier to plan, but higher total interest). In SAC (Constant Amortization System) the installments start higher and decrease over time, as the amortization value is fixed. SAC generally results in less interest paid in the end.
What is the minimum down payment for a real estate loan?
The minimum down payment varies by bank and type of financing. In the SFH (Housing Financial System), the bank can finance up to 80% of the value of the property, requiring a 20% deposit. In FGTS, the buyer can use the balance to supplement the down payment. In the market, inputs of 20% to 30% are the most common.
Can I use FGTS to pay for real estate financing?
Yes. The FGTS can be used as a down payment to reduce the amount financed, to reduce portions of the outstanding balance or to pay off the contract in advance, as long as the property complies with the SFH rules (limit value defined annually by the CEF), the worker has at least 3 years of FGTS and does not have another property financed by the SFH in the same city.
Is it worth repaying the loan early?
Yes, in almost all cases. Early repayment reduces the outstanding balance and can be used to reduce the term (saving more interest) or the value of the installments. In a financing of $ 300.000 a 9% ao ano por 20 anos, uma amortização extra de $ 10,000 in the first years you can save $ 30.000 ou mais em juros ao final.
O que é o CET e por que é importante no financiamento?
O CET (Custo Efetivo Total) é a taxa anual que representa todos os encargos do financiamento: juros nominais, taxas administrativas, seguros habitacionais obrigatórios (DFI e MIP) e IOF. É o número que deve ser comparado entre propostas de diferentes bancos, não apenas a taxa de juros nominal divulgada.
Como a taxa Selic afeta as parcelas do meu financiamento?
Financiamentos com taxa prefixada não são afetados diretamente pela Selic, pois a taxa é travada na assinatura. Financiamentos atrelados à TR (Taxa Referencial) ou ao IPCA têm parcelas que variam conforme a inflação e os índices de correção. Quando a Selic sobe, novos contratos ficam mais caros e os atrelados à TR podem ser corrigidos para cima.
Qual a diferença entre financiamento pelo SFH e pelo SFI?
O SFH (Sistema Financeiro da Habitação) tem juros limitados a 12% ao ano e valor máximo de imóvel definido por lei (atualmente $ 1.5 million), allowing the use of FGTS. The SFI (Real Estate Financial System) is used for higher value properties and has no interest rate limit or restrictions on the use of FGTS, with conditions negotiated directly with the bank.