Formula used
For equal monthly payments, the calculator uses the standard amortizing-payment formula M = P × r × (1+r)^n / ((1+r)^n − 1), where r is the monthly interest rate (annual rate ÷ 12) and n is the number of payments. At 0% interest, payment equals principal divided by term. The entered rate is an annual interest rate for estimation — not necessarily APR/DAE.
Mortgage term vs amortization
In this market, the monthly payment is based on the amortization period. The mortgage term is the period until renewal; the estimated balance at term end is shown separately.
What this does not include
Fees, insurance, taxes, early repayment rules, promotional periods, and lender-specific compounding conventions are not modeled.