This is a general mortgage calculator, using a standard mortgage payment formula, widely used in financial calculations. It assumes monthly compounding and regular monthly payments. It may provide estimates that are moderately different than your banking or other financial institution as they accommodate several factors like rounding methodology, day count conventions (360 vs 365 days per year), compounding frequencies (monthly vs daily), and calculation methods based on formulas specific to their mortgage products. It's provided as a guide only and you should contact your financial institution or advisor for any final planning or before you make any financial decisions.