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Mortgage Calculator

Calculate monthly mortgage payments and see a full 30-year amortization schedule. Enter property price, down payment, interest rate and loan term.

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🇩🇰 All calculations are based on Danish rules, rates, and currency (DKK). This calculator is translated for convenience but applies exclusively to Denmark.

Mortgage Calculator for Denmark

Buying a home is the biggest financial decision most Danes will make. This mortgage calculator helps you understand your monthly payments and the total cost of your home loan. In Denmark, mortgages are typically structured as annuity loans through realkreditinstitutter (mortgage credit institutions) such as Nykredit, Realkredit Danmark or Totalkredit, offering some of the most competitive mortgage rates in Europe.

How Danish Mortgages Work

The Danish mortgage system is unique. Up to 80% of the property value can be financed through a realkreditlån, with the remaining amount typically covered by a banklån or savings. This calculator models the combined monthly payment using the annuity method. The amortization table shows exactly how much of each payment goes to interest versus principal reduction over the full loan term.

Choosing the Right Mortgage

In Denmark you can choose between fixed-rate and variable-rate mortgages, as well as interest-only periods (afdragsfrihed) of up to 10 years. While interest-only periods lower your initial monthly payments, they mean you are not paying down the principal, which increases your total interest cost. Use this calculator to compare scenarios with different rates and terms to find the mortgage structure that best fits your financial situation.

Frequently Asked Questions

What is the difference between realkreditlån and banklån?

A realkreditlån covers up to 80% of the property value and is issued by mortgage credit institutions at lower rates. A banklån covers the remaining amount above 80% and typically has a higher interest rate. Together they finance the property minus your down payment.

Should I choose a fixed or variable interest rate?

Fixed-rate mortgages offer payment certainty but may have higher initial rates. Variable-rate mortgages often start lower but can increase if market rates rise. Your choice depends on your risk tolerance and how long you plan to keep the loan. Nationalbanken's policy rate influences both.

What is afdragsfrihed and should I use it?

Afdragsfrihed is an interest-only period of up to 10 years offered on Danish realkreditlån. It lowers monthly payments but means you are not reducing the principal, resulting in higher total interest costs. It can be useful during periods of tight budgets but should be used cautiously.

How much down payment is required in Denmark?

Danish regulations require a minimum of 5% down payment on residential property. The remaining 95% is typically split between a realkreditlån (up to 80%) and a banklån or own savings for the remaining 15%. A larger down payment reduces your total borrowing costs.

Can I deduct mortgage interest from my taxes?

Yes, in Denmark you can deduct interest expenses on loans, including mortgages. The tax value of the deduction is approximately 33% for interest expenses below a certain threshold and about 25% above it. This effectively reduces the net cost of borrowing.

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