Mortgage Calculator

Loan required

Home price ($)

Down payment ($)

Down payment (%)

Loan term (years)

Interest rate (% APR)

Assumes a fixed rate. Have an ARM (adjustable-rate)? Results are only reliable through your fixed intro period — e.g. the first 5 years of a 5/1 ARM — because after that your rate resets.

First payment month

Taxes & other monthly costs optional

Property tax ($/year) Homeowners insurance ($/year)

PMI ($/month)

HOA dues ($/month)

Remove PMI automatically at 20% equity

Property tax and insurance here are estimates for your monthly-cost picture — they don't affect the loan payoff math. PMI usually applies only when you put down less than 20%, and by law drops off once you reach 22% equity (you can request removal at 20%).

Extra payments optional

Extra every month ($)

Extra once a year ($)

…in which month?

One-time lump sum ($)

…paid in

Extra payments go straight to principal, so every dollar skips its share of future interest. Even $100/month on a 30-year loan typically shaves off years — the savings show up on the right as soon as you type a number.

Your monthly payment

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Loan amount

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Payoff date

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Total interest

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Interest saved

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Paid off sooner by

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Total of payments

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Loan balance over time

Amortization schedule

Each payment splits between interest (the lender's charge on what you still owe) and principal (actually paying down the loan). Early on, most of the payment is interest — that flips over time, which is why extra payments early in the loan save the most.

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