Mortgage Calculator
Monthly payment, schedule and extra-payment savings.
1,770
Principal & interest
400
Tax + insurance / mo
2,170
Total monthly
280,000
Loan amount
357,125
Total interest
637,125
Total of payments
30y 0m
Payoff time
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 3,130 | 18,108 | 276,870 |
| 2 | 3,339 | 17,898 | 273,531 |
| 3 | 3,563 | 17,675 | 269,968 |
| 4 | 3,801 | 17,436 | 266,167 |
| 5 | 4,056 | 17,181 | 262,111 |
| 6 | 4,328 | 16,910 | 257,783 |
| 7 | 4,618 | 16,620 | 253,165 |
| 8 | 4,927 | 16,311 | 248,239 |
| 9 | 5,257 | 15,981 | 242,982 |
| 10 | 5,609 | 15,629 | 237,373 |
| 11 | 5,984 | 15,253 | 231,389 |
| 12 | 6,385 | 14,852 | 225,004 |
| 13 | 6,813 | 14,425 | 218,191 |
| 14 | 7,269 | 13,968 | 210,922 |
| 15 | 7,756 | 13,482 | 203,166 |
| 16 | 8,275 | 12,962 | 194,890 |
| 17 | 8,830 | 12,408 | 186,061 |
| 18 | 9,421 | 11,817 | 176,640 |
| 19 | 10,052 | 11,186 | 166,588 |
| 20 | 10,725 | 10,512 | 155,863 |
| 21 | 11,443 | 9,794 | 144,419 |
| 22 | 12,210 | 9,028 | 132,210 |
| 23 | 13,027 | 8,210 | 119,182 |
| 24 | 13,900 | 7,338 | 105,282 |
| 25 | 14,831 | 6,407 | 90,452 |
| 26 | 15,824 | 5,413 | 74,628 |
| 27 | 16,884 | 4,354 | 57,744 |
| 28 | 18,015 | 3,223 | 39,729 |
| 29 | 19,221 | 2,016 | 20,508 |
| 30 | 20,508 | 729 | 0 |
Amounts are currency-neutral and exclude PMI, HOA dues and closing costs. Estimates only — confirm figures with your lender.
How to use the Mortgage Calculator
- 1 Enter the home price, down payment, interest rate and term.
- 2 Add yearly property tax and home insurance for the full monthly cost.
- 3 Optionally add an extra monthly payment to see the interest and time saved.
- 4 Review the year-by-year amortization schedule.
Examples
- ▸ A 350,000 home with 70,000 down at 6.5% for 30 years ≈ 1,770/mo principal & interest.
- ▸ Adding 200/month extra can cut years off the loan and save tens of thousands in interest.
Frequently asked questions
What is included in the monthly payment?
Principal and interest plus monthly escrow for property tax and home insurance (PITI). It does not include PMI, HOA dues or closing costs.
How do extra payments save money?
Every extra amount goes straight to principal, so less interest accrues on the remaining balance — shortening the loan and cutting total interest. The tool shows exactly how much.
How is the amortization schedule calculated?
Each month, interest is charged on the current balance and the rest of your payment reduces the principal. The schedule sums these into a per-year breakdown of principal, interest and remaining balance.