Mortgage Loan Calculator

Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. You can even determine the impact of any principal prepayments! Press the report button for a full amortization schedule, either by year or by month.

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Mortgage Loan Calculator Results

Your payment is MONTHLY_PI for TERM years with a rate of INTEREST_RATE.

Mortgage Summary
Loan amountLOAN_AMOUNT
TermTERM years
Interest rateINTEREST_RATE
Monthly paymentMONTHLY_PI
Total paymentsTOTAL_OF_PAYMENTS
Total interestINTEREST_PAID

Prepayment Results

Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years. PREPAY_MESSAGE

Prepayment Summary
AmountPREPAY_AMOUNT PREPAY_TYPE
Start with paymentPREPAY_STARTS_WITH 
Total paymentsPREPAY_TOTAL_OF_PAYMENTS 
Total interestPREPAY_INTEREST_PAID 
Interest savingsPREPAY_INTEREST_SAVINGS 

Payment schedule


**REPEATING GROUP**


Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.


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Definitions

Mortgage amount Original or expected balance for your mortgage.
Interest rate Annual interest rate for this mortgage
Term in years The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Monthly payment Monthly principal and interest payment (PI).
Total payments Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interest Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Prepayment type The frequency of prepayment. The options are none, monthly, yearly and a one time payment.
Prepayment amount Amount that will be prepaid on your mortgage. This amount will be applied to the mortgages principal balance, based on the prepayment type.
Start with payment This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following months interest calculation.
Savings Total amount of interest you will save by prepaying your mortgage.



information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.