Calculator
Enter a home price and down payment, or a loan amount. See the monthly payment, the total interest and how the balance falls each year.
The default rate is the Commercial Bank of Ethiopia mortgage rate of 14 percent, effective March 2025. Your bank may offer a different rate. Ask for its current rate in writing and type it in.
ETB 5,000,000
ETB 1,000,000. Most banks ask for at least 20%.
SourcedCommercial Bank of Ethiopia: mortgage loans carry 14 percent for long-term borrowers, effective 7 March 2025, as reported by Ethiopian Business Review. Source
After tax. Shows what share of income the payment takes.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ETB 39,352 | ETB 557,538 | ETB 3,960,648 |
| 2 | ETB 45,228 | ETB 551,662 | ETB 3,915,420 |
| 3 | ETB 51,983 | ETB 544,907 | ETB 3,863,437 |
| 4 | ETB 59,746 | ETB 537,144 | ETB 3,803,691 |
| 5 | ETB 68,669 | ETB 528,221 | ETB 3,735,022 |
| 6 | ETB 78,924 | ETB 517,966 | ETB 3,656,098 |
| 7 | ETB 90,711 | ETB 506,179 | ETB 3,565,387 |
| 8 | ETB 104,258 | ETB 492,632 | ETB 3,461,130 |
| 9 | ETB 119,828 | ETB 477,062 | ETB 3,341,302 |
| 10 | ETB 137,723 | ETB 459,167 | ETB 3,203,579 |
| 11 | ETB 158,291 | ETB 438,599 | ETB 3,045,289 |
| 12 | ETB 181,930 | ETB 414,960 | ETB 2,863,358 |
| 13 | ETB 209,100 | ETB 387,790 | ETB 2,654,258 |
| 14 | ETB 240,327 | ETB 356,563 | ETB 2,413,931 |
| 15 | ETB 276,218 | ETB 320,672 | ETB 2,137,713 |
| 16 | ETB 317,469 | ETB 279,421 | ETB 1,820,243 |
| 17 | ETB 364,881 | ETB 232,009 | ETB 1,455,362 |
| 18 | ETB 419,373 | ETB 177,517 | ETB 1,035,989 |
| 19 | ETB 482,003 | ETB 114,887 | ETB 553,986 |
| 20 | ETB 553,986 | ETB 42,904 | ETB 0 |
The calculator uses the standard formula for a loan with equal monthly payments. Each payment covers the interest for that month and pays off part of the loan. Early payments are mostly interest. Late payments are mostly principal. The table by year shows how much of each goes where.
The calculator does not add bank fees, insurance, valuation or registration costs. Our guide to property tax and fees in Ethiopia lists the costs of a purchase.
In March 2025 the Commercial Bank of Ethiopia set its mortgage rate at 14 percent for long-term borrowers. Residential condominium loans under the 40/60, 20/80 and 10/90 schemes stayed at 12 percent. Many other banks charge near 18 percent for local home loans. Diaspora loans in foreign currency have their own terms.
Most banks ask for a down payment of at least 20 percent and lend for up to 20 years. Read our mortgage guide for the banks that lend, the documents they ask for and the steps to apply.
The Commercial Bank of Ethiopia charges 14 percent on mortgage loans and 12 percent on residential condominium loans, effective March 2025. Many other banks charge near 18 percent.
The calculator spreads the loan and its interest into equal monthly payments over the term. The monthly rate is the annual rate divided by 12.
Most banks in Ethiopia ask for at least 20 percent of the house price. Diaspora loans need the down payment in foreign currency.
This calculator gives general estimates, not financial advice or a quote. Prices and rates change. Confirm every figure with a supplier, contractor or bank before you commit.