Mortgage Calculator Korea
Enter the home price, your own funds, the interest rate and the loan term to see the monthly payment, the total interest and the money you need at signing. Try prepayment too in «More options».
More options
General values (South Korea). They don't account for regional rules or other costs that may apply. Check them with your lender or advisor.
Rate discounts for bank products
Enter the rate above with every discount applied. Here, each product the bank asks for: how much it lowers the rate and what it costs a year. The discount is assumed to last the whole term.
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Count as cost what you pay extra for having it with the bank: if the same insurance costs ₩150,000 elsewhere and the bank's costs ₩250,000, that's ₩100,000. If the premium rises over the years, as life insurance does, enter the average.
Enter the price, down payment, interest rate and term.
The payment is principal plus interest: it doesn't include insurance, fees or property taxes.
Yearly amortization schedule
Enter the price, down payment, interest rate and term.
Results are estimates. Solvemis accepts no responsibility for the results obtained or for how they are used. Always double-check the result and talk to a qualified professional before making decisions.
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How it works
How to use it
- Enter the home price and your own funds.
- Enter the annual interest rate and the loan term (years).
- In «More options», change the repayment method and buying costs or add a prepayment.
- Check the monthly payment, the interest, the money needed at signing and the yearly repayment schedule.
How it is calculated
The monthly rate is the annual rate divided by 12, and the loan is calculated one month at a time, like a bank's repayment schedule. If the rate changes after some years, the payment is recalculated in the year it changes, on the outstanding balance and the months left. Prepayments are applied at the end of the year you choose. Buying costs, payment-to-income ratio and LTV are general reference values for Korea that you can change. With rate discounts, the rate you enter is the one you pay with every product; without each one, the rate goes up by its discount (also after a rate change) and the extra interest is compared with its cost over the years the mortgage lasts.
Monthly payment = loan × monthly rate ÷ (1 − (1 + monthly rate)^−months)
Sources
- 첫 집 샀는데 취득세만 수백만 원? 생애최초 감면 혜택 — Shinhan Financial Group
About this calculator
Equal payments and equal principal
With equal payments of principal and interest the monthly payment is the same, but interest makes up a large share at first, so the balance falls slowly. With equal principal you repay the same principal every month: the first payment is larger but keeps falling, and total interest is lower. The chart shows the interest paid each year in blue.
Prepayment: shorter term or lower payment
When you prepay, you choose what to reduce. Shortening the term keeps the monthly payment and ends the loan early, which often saves the most interest. Lowering the payment keeps the term and reduces what you pay each month. Prepayment fees depend on your loan contract.
What the reference values for Korea do not reflect
An LTV of 70% and a DSR of 40% are general benchmarks, and they change depending on whether the area is regulated and whether you are a first-time buyer. DSR compares the principal and interest on all your loans with your annual income. The 2% buying costs assume they include acquisition tax (1–3% depending on the home price) and brokerage fees. Check with a bank or a professional.
Frequently asked questions
What is the difference between equal payments and equal principal?
With equal payments of principal and interest you pay the same amount every month, and interest makes up a large share at first. With equal principal you repay the same principal every month, so the first payment is larger but keeps falling, and total interest is lower.
Is it better for a prepayment to shorten the term or lower the payment?
Shortening the term usually saves more interest. Lowering the payment makes each month lighter. You can compare both cases with the calculator.
What is not included in the monthly payment?
Only principal and interest are calculated. Check prepayment fees, guarantee fees, insurance premiums and property tax separately.
Is it worth taking the bank's products to get a lower rate?
It depends on what they cost. Under «Rate discounts for bank products», in «More options», enter the discounted rate (with every product) as the interest rate and, for each product, such as insurance, a card or having your salary paid into the account, how much it lowers the rate and what it costs a year. You'll see how much interest each one saves and whether it's worth it; if you don't know the cost, how much it could cost a year and still pay off. Count as cost only what you pay extra for having it with the bank: if the same insurance is cheaper elsewhere, the difference.
Updated October 20, 2026
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