Financial Tools
Mortgage Payment Calculator
Break down principal and interest in your payments. See how much of each payment builds equity, how much goes to interest, and how the balance falls year by year.
Home Price
Down Payment
Loan Term
Interest Rate (% per year)
Extra Monthly Payment (optional, $)
Values shown are examples. Edit them to match your situation.
Principal & Interest Breakdown
| Monthly Principal & Interest | $0 |
| Loan Amount | $0 |
| First Year: Principal Paid | $0 |
| First Year: Interest Paid | $0 |
| Total Interest Over Term | $0 |
| Total of All Payments | $0 |
| Payoff Date | n/a |
Yearly Schedule
| Year | Principal | Interest | Balance |
|---|
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Questions people ask
How is the monthly principal and interest calculated?
The loan is the home price minus your down payment. The page computes the standard fixed payment that clears that loan at your interest rate over the term you pick.
Why does most of the first year go to interest?
Interest is charged on the balance still owed, which is largest at the start. First Year: Interest Paid and the Yearly Schedule show the interest share shrinking as the balance falls.
Does this payment include taxes and insurance?
No. This page covers principal and interest alone. Property tax, home insurance, HOA fees and PMI are on the Mortgage Calculator.
How does an extra monthly payment change the schedule?
The extra amount goes to principal each month, so the balance falls faster, total interest drops and the payoff date moves earlier.
