imonga

Financing calculator

Estimate your monthly mortgage payment in seconds.

Down payment20 % (5,000,000 FCFA)

Annual interest rate8 %

Term20 yrs

Estimated monthly payment

167,288 FCFA

Loan amount

20,000,000 FCFA

Total interest

20,149,123 FCFA

Total cost of credit

40,149,123 FCFA

Indicative estimate with fixed monthly payments, excluding insurance and fees. Not a loan offer.

How the calculation works

The calculator uses the formula for a loan with equal monthly payments, the most common kind of mortgage. It starts from the property price, subtracts your down payment to get the amount borrowed, then spreads the repayment of capital and interest over the chosen term: you pay the same amount every month, and the interest share falls over time.

The rate shown when the page opens (8%) is only a starting value, not a market rate. Replace it with the rate your bank quotes: a few tenths of a point change the total cost noticeably over 15 or 20 years.

What the result does not include

  • borrower insurance, which most banks require;
  • arrangement and security fees (mortgage or guarantee);
  • purchase costs: notary, registration or transfer duties, surveyor;
  • any change in the rate if the loan is not fixed-rate.

Preparing your loan application

Each bank sets its own list of documents. Expect to provide at least an identity document, recent proof of income, bank statements and the property documents (sale agreement, title deed, or reservation contract for an off-plan purchase). If you are buying from abroad, ask the bank whether it lends to non-residents and in which currency.

Further reading