Assuming your interest rate stays the same. This is the amount you will be required to pay each month over the agreed term.
Loan-to-value ratio
The loan-to-value (LTV) ratio is the amount of your mortgage loan compared to the value of your home. It affects how much interest you pay and how much you'll need for a down payment. A higher LTV ratio means you'll need to borrow more money, which can be riskier for lenders and may result in higher costs for you. It's important to understand your LTV ratio to help you make informed decisions about your mortgage and ensure you can afford your home in the long term.
Affordability
When interest rates rise, the cost of borrowing money increases, which can result in an increase in monthly mortgage payments for homeowners. It's important to keep in mind the potential impact of interest rate changes when considering a mortgage to ensure you can afford your monthly payments in the long run.