Mortgage calculator — monthly payment and amortization schedule

How much will you pay each month on the mortgage — and where does that money really go? The calculator below computes the monthly payment from the loan amount, the term and the rate, and shows an amortization schedule of how the payment splits between principal and interest over the years. Play with the numbers and see how much every small change matters.

Monthly payment calculator

Your monthly payment and total interest — by an amortization (Spitzer) schedule.

Monthly payment₪6,945per month
Total interest₪883,603
Total paid₪2,083,603
₪1,200,000
4.90%
25 years
Annual amortization schedule
YearPrincipalInterestBalance
1₪25,103₪58,241₪1,174,897
2₪26,361₪56,983₪1,148,536
3₪27,682₪55,662₪1,120,854
4₪29,069₪54,275₪1,091,785
5₪30,526₪52,818₪1,061,259
6₪32,056₪51,288₪1,029,203
7₪33,663₪49,682₪995,540
8₪35,350₪47,995₪960,190
9₪37,121₪46,223₪923,069
10₪38,981₪44,363₪884,088
11₪40,935₪42,409₪843,153
12₪42,987₪40,358₪800,166
13₪45,141₪38,203₪755,026
14₪47,403₪35,941₪707,622
15₪49,779₪33,565₪657,844
16₪52,273₪31,071₪605,570
17₪54,893₪28,451₪550,677
18₪57,644₪25,700₪493,033
19₪60,533₪22,811₪432,500
20₪63,567₪19,778₪368,934
21₪66,752₪16,592₪302,181
22₪70,098₪13,247₪232,084
23₪73,611₪9,734₪158,473
24₪77,300₪6,044₪81,174
25₪81,174₪2,171₪0

For illustration only · not advice and not a commitment

Want to turn the numbers into a plan of action?

Leave your details for a call with an advisor — no commitment.

How the monthly payment is calculated

Most mortgages in Israel are repaid on the Spitzer (annuity) method: a fixed monthly payment, inside which the ratio between principal and interest shifts over time. Early on, most of the payment is interest and only a small part reduces the debt; over the years the ratio flips, and the final payments are almost entirely principal.

That's why the amortization schedule matters no less than the payment itself: it shows how much debt has truly come down after five or ten years — a key input for any refinance, early-repayment or sale decision.

Three numbers move everything

The monthly payment is set by only three variables — and each of them is in your hands to one degree or another:

  • The loan amount — derived from the home price and the equity. Every extra shekel of equity shrinks the loan and the interest that accumulates on it.
  • The term — a longer term lowers the monthly payment but significantly increases the total interest you'll pay. A shorter term does the opposite.
  • The rate — set by the mix, market conditions and the quality of your file. This is exactly where building the right mix and professional negotiation come in.

Why your actual payment will look different

The calculator assumes one fixed rate for the whole loan — a deliberate simplification meant for understanding the mechanics. A real mortgage is split into several tracks (fixed, prime, CPI-linked and more), each with its own rate and behavior: CPI-linked tracks update with inflation, and adjustable tracks — with the market interest rate.

So your real payment is set by the mix. The calculator gives an excellent order of magnitude; the precise planning is done on a real file.

Frequently asked questions

What is an amortization schedule?

An amortization schedule is a table that details, for each payment period, how much of the payment goes to interest and how much to principal, and what debt balance remains. It shows what the monthly payment alone hides: the real pace at which the debt falls over the life of the loan.

Why is the offer I got from the bank different from the calculator's result?

The calculator computes one loan at one fixed rate, while a real bank offer is built from several tracks with different rates, some of them linked or adjustable. On top of that, the rate a bank offers depends on your specific file. Use the calculator to understand orders of magnitude and compare scenarios — and a professional review for actual planning.

Guides worth reading (Hebrew)

All calculators