Mortgage Calculator

Why Use This Calculator?

This tool helps potential homebuyers or existing homeowners understand the financial implications of a mortgage. Use it to estimate your monthly principal and interest payments, see the total interest paid over the loan's lifetime, and visualize how your payments break down over time via the amortization schedule.

Enter the total amount borrowed, the annual interest rate (e.g., 6.5 for 6.5%), and the loan duration in years.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (Years)

Loan Summary

Estimated Monthly Payment

$0.00

(Principal & Interest)

Total Principal Paid

$0.00

Total Interest Paid

$0.00

Understanding the Results

Monthly Payment: This is the fixed amount you'll pay each month covering only the loan principal and interest. It does *not* include property taxes or homeowner's insurance (escrow).
Total Principal Paid: This should match your original Loan Amount, showing you've paid back the borrowed sum over the term.
Total Interest Paid: This shows the total cost of borrowing the money over the entire loan term. Notice how it can often be a very large number compared to the principal!
Chart & Schedule: These visualize amortization - how each payment gradually shifts from paying mostly interest initially to paying mostly principal later in the loan.

Principal vs. Interest Payments Over Time

Amortization Schedule (Yearly Summary)

Year	Principal Paid	Interest Paid	Total Paid (Year)	Remaining Balance
Calculate loan details to view the schedule.

Important Notes & Limitations

This calculator provides estimates for principal and interest only.
Actual monthly housing payments are often higher due to property taxes, homeowners insurance, and potentially Private Mortgage Insurance (PMI), which are not included here.
Calculations assume a fixed interest rate for the entire loan term.
These results are for informational purposes only. Consult with a qualified financial advisor or mortgage lender for personalized advice.