Mortgage Calculator
Calculate your monthly mortgage payments, see the full amortization schedule year by year, and simulate how extra payments can reduce total interest. Visual pie chart shows the principal vs interest breakdown.
How to Use the Mortgage Calculator
- Enter loan details: Input the loan amount, annual interest rate, and loan term in years.
- Add extra payments (optional): Enter an extra monthly payment amount to see how much interest you can save.
- Calculate: Click "Calculate" to see your monthly payment, total interest, and full amortization table.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule shows the breakdown of each payment into principal and interest over the life of your loan. It helps you understand how much of your payment goes toward the loan balance vs interest.
How do extra payments affect my mortgage?
Extra payments reduce your principal balance faster, which means you pay less interest over the life of the loan. Even a small extra monthly payment can save thousands in interest and shorten your loan term.