๐ฆLoan / Monthly Payment Calculator
Compute monthly payment and total interest under three Korean repayment methods: equal payment (์๋ฆฌ๊ธ๊ท ๋ฑ), equal principal (์๊ธ๊ท ๋ฑ), and bullet (๋ง๊ธฐ์ผ์์ํ). Useful for mortgage (LTV) simulations, Jeonse loans, credit loans, and car installment comparisons.
How to use
- 1Enter principal, annual rate, and term (months).
- 2Pick a repayment method.
- 3View monthly payment and total interest.
FAQ
Equal payment vs. equal principal?+
Equal payment: same amount each month, keeping your budget predictable. Equal principal: highest first, then declines, with less total interest.
What about early-repayment fees?+
This is a simple simulator. Check actual bank fees and DSR rules separately. Usually 1โ2% if repaid within 3 years.
What is DSR?+
Debt Service Ratio โ annual loan repayments as a share of annual income. Korean bank loans typically require DSR within 40%.
When is bullet repayment used?+
Most common with Jeonse loans โ monthly interest only, with principal due at maturity. Aligned with deposit-return timing.
Can I model variable rates?+
This tool is fixed-rate only. Variable rates are hard to simulate โ talk to a bank advisor or use the FSS calculator.
What is stress DSR?+
Korean regulation that adds an extra rate margin (1โ1.5%) to variable-rate loans to reflect future rate-hike risk. Applied from 2024.