Loan / Mortgage Calculator
Instant calculation using the Spitzer (constant-payment) amortization — monthly payment, total interest, total cost, and the effect of an extra monthly payment.
- Free, forever
- Result in under a second
- Your data is never stored
Common questions
What is the Spitzer amortization and why is it the default?
The Spitzer schedule (annuity) is a constant-payment amortization — every month you pay the same total, but the split between principal and interest changes: early on most of the payment is interest, by the end most is principal. It is the standard for both mortgages and consumer loans in Israel, particularly the fixed-non-indexed track (קל"צ).
How does extra monthly payment work?
If you pay an extra ₪500 monthly above the regular payment, the surplus reduces the principal directly. This shortens the loan term and saves the interest that would have accrued over the cut months. On a long mortgage, even a small monthly extra can save tens of thousands of shekels.
Does the calculator handle CPI-linked mortgages?
Not in this version. The calculator assumes fixed principal and rate. For CPI-linked or Prime-linked tracks, calculate the indexation or rate adjustment separately. Most Israeli mortgages are multi-track; use the calculator per track.
What are typical mortgage rates in Israel for 2026?
At 2026 rates (post Bank of Israel hikes), the fixed-non-indexed track (קל"צ) runs around 5%-6%, Prime around 4.5%-5.5%, and CPI-linked variable around 3%-4%. Actual rates depend on equity, credit score, and shopping among banks. Comparing offers can save 0.5%-1%.
What is the difference between a mortgage and a consumer loan?
Mortgage = loan for buying a home, secured by the property, long terms (15-30 years), lower rates. Consumer loan = any other purpose (car, renovation, wedding), unsecured, short terms (1-7 years), higher rates. The math (Spitzer) is identical.