Mortgage planning tools
Plan your mortgage with confidence
Estimate payments, understand affordability, compare refinancing options, and explore your loan payoff — with every assumption on screen and nothing presented as a quote.
Amortization calculator
See how the balance falls, and what paying extra would do to it.
Your own figure. We do not quote rates here.
Applied straight against principal, on top of the scheduled payment.
Applied in the twelfth month of each year.
Scheduled payment $2,275 a month. Total interest $459,160 over 30 years.
Scheduled monthly payment
$2,275/ month
Total interest
$459,160
Paid off in
30 years
Total paid
$819,160
Remaining balance over time
Remaining balance falling from $360,000 at the start to $0 after 30 years.
Add an extra payment above to see a second line for comparison.
Principal against interest
Cumulative principal and interest. By year 30, $360,000 of principal and $459,160 of interest have been paid.
Cumulative totals. Early payments are mostly interest; the crossover comes later than most people expect.
Amortization schedule
Every payment. 360 rows.
| Payment | Amount | Principal | Interest | Extra | Balance |
|---|---|---|---|---|---|
| 1 | $2,275.44 | $325.44 | $1,950.00 | — | $359,675 |
| 2 | $2,275.44 | $327.21 | $1,948.24 | — | $359,347 |
| 3 | $2,275.44 | $328.98 | $1,946.46 | — | $359,018 |
| 4 | $2,275.44 | $330.76 | $1,944.68 | — | $358,688 |
| 5 | $2,275.44 | $332.55 | $1,942.89 | — | $358,355 |
| 6 | $2,275.44 | $334.36 | $1,941.09 | — | $358,021 |
| 7 | $2,275.44 | $336.17 | $1,939.28 | — | $357,685 |
| 8 | $2,275.44 | $337.99 | $1,937.46 | — | $357,347 |
| 9 | $2,275.44 | $339.82 | $1,935.63 | — | $357,007 |
| 10 | $2,275.44 | $341.66 | $1,933.79 | — | $356,665 |
| 11 | $2,275.44 | $343.51 | $1,931.94 | — | $356,322 |
| 12 | $2,275.44 | $345.37 | $1,930.08 | — | $355,976 |
Before you pay extra
Worth checking first.
- Whether the note carries a prepayment penalty. Most owner-occupied loans do not; some investor and non-QM loans do.
- That the servicer applies the extra to principal rather than holding it as the next month's payment. It usually needs telling.
- Whether a higher-rate debt would be the better target for the same money.
- Whether the cash is better kept as reserves. Money paid into a mortgage is hard to get back out.
Helpful resources
Plain explanations of what these numbers mean.
An estimate, not an offer
Every figure on this page is arithmetic on numbers you entered. It is not a quote, a rate lock, a pre-approval, a loan offer, or a statement that you qualify for anything. Real terms depend on a full application, your credit and documentation, the property, and pricing on the day a rate is locked. Property taxes, insurance and association dues are your assumptions, not amounts quoted by anyone.
Where this leads
Reading an amortization schedule
The split between principal and interest is a property of the loan's structure, not of the lender. These pages explain the structure and the terms the schedule uses.
Conventional loans
A conventional loan is a mortgage that is not insured or guaranteed by a government agency. Most conventional lending follows Fannie Mae or Freddie Mac guidelines, which is why the requirements are relatively consistent from lender to lender.
Read moreFHA loans
An FHA loan is a mortgage insured by the Federal Housing Administration, part of HUD. The insurance is what allows lenders to accept a lower down payment and a wider range of credit profiles than conventional financing typically does.
Read moreJumbo loans
A jumbo loan is one that exceeds the conforming loan limit applicable to the property's county and unit count. Because it cannot be sold to Fannie Mae or Freddie Mac under those limits, the lender holds more risk and sets its own requirements.
Read more
Terms used on this page
Also on this site
Numbers only go so far. If you want these checked against your own situation, that conversation starts here — no documents at this stage.
Homebuyers: start a conversation