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Mortgage Loan Calculator

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.

 
This Financial Calculator requires SUN's JavaT Plug-in. If you see this message you will need to download SUN's JavaT Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing "Install ActiveX Control".

Definitions

Mortgage amount
Original or expected balance for your 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.

Interest rate
Annual fixed interest rate for this mortgage.

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 one-time payment.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage 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 month’s interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assumed to happen before the first payment of the loan.

Savings
Total amount of interest you will save by prepaying your mortgage.

The information provided by this calculator is for illustrative purposes only. Accuracy of the result is not guaranteed, and we are not responsible for any errors, omissions, or misrepresentations. The results obtained from this calculator are hypothetical and may not be applicable to your individual situation. This calculator cannot pre-qualify you for any loan program. In order to qualify for any loan program, an application must be submitted for approval. Additional information, such as credit scores, asset and debt information, property value and other information, will be required, and may not be taken into consideration by this calculator. Interest rates and pricing are only examples, are subject to change at any time and without notice, and may not be available at the time of loan application. Additional fees, such as association dues, may not be included in calculations. The information provided does not constitute investment advice. You should not make investment decisions based on results obtained from this calculator. Investment strategies should be reviewed periodically as financial circumstances change. The results of financial calculators may provide a rough approximation of future financial performance, but may not reflect the actual growth of your own investments. We are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this calculator. You should consult a financial professional prior to relying on the results of this calculator.