Loan & mortgage calculator
Estimate mortgage payments, housing costs, upfront cash, PMI and estimated APR, or calculate a general fixed-rate loan. Compare up to five scenarios, explore extra payments and payoff dates, and export complete monthly schedules.
What should be calculated
Advanced: fees and housing assumptions
Extra payments
Payments on their own schedule — a yearly bonus, a tax refund, a one-time payment in a selected year. Each comes straight off the balance.
Scenario comparison
Initial monthly payment breakdown
Contractual first payment, before voluntary extras. Taxes and insurance are monthly budget equivalents.
Interest-rate sensitivity
Interest over the whole loan at each rate in the range you chose. The required payment is recalculated for each interest rate.
Borrowing costs over time
Mortgage and loan details
Estimated APR uses contractual payments, finance fees and standard required PMI, without voluntary extras or assumed early PMI cancellation. Other closing costs and ongoing ownership costs are excluded; this is an estimate, not a lender disclosure.
Debt-free timeline
Extra-payment sensitivity
How much interest each monthly extra avoids. Focus or point at a rung to see its payoff time and time saved.
Outstanding balance
The column is what the original schedule would still owe; the coloured part is what you owe. The grey segment shows the reduction in outstanding principal relative to the original schedule.
Cumulative interest savings
Cumulative interest under the extra-payment plan, with the interest avoided stacked above it to show the contractual total.
Annual payment allocation
Interest sits on the money coming off the balance, so the year they cross over is read off the chart.
Payment vs. total interest
Annual amortization
| Year | Paid | Interest | Off the balance | Still owed | Paid to date | Interest to date |
|---|
Extra-payment schedule
Every scheduled extra payment the amortization will actually accept. Entries after the loan is cleared are omitted, and payments are negative cash flow.
| Year + month | Value | Payment |
|---|
What this model assumes
- The rate is fixed for the whole term. Interest is charged monthly on whatever is still owed, at a twelfth of the yearly rate, and the payment is whatever clears the loan exactly over the term — the way a fixed-rate mortgage or car loan is quoted.
- Everything paid above that payment comes straight off the balance. Some lenders instead hold an overpayment against the next instalment, which may not reduce principal immediately. This model assumes extra payments are applied directly to principal.
- An extra payment on its own schedule lands on the last month of each of its periods; a one-off lands in the single year you name.
- The last payment is whatever is left rather than the full contractual figure, so the total cost is the sum of the payments actually made.
- Mortgage mode includes supplied property tax, homeowners insurance, HOA and borrower-paid PMI. The initial monthly housing cost excludes voluntary extras, maintenance and utilities. Fees are paid upfront, not financed. Cash due is the down payment plus both fee categories; enter each cost only once.
- Taxes, insurance and HOA grow together on each loan-year anniversary from month 13. They continue after payoff through the original term. Amounts are nominal dollars, not discounted or adjusted for tax deductions.
- Standard PMI uses purchase price as original value and stops at the scheduled 78% balance date or month after the amortization midpoint. Assumed 80% or custom cancellation requires servicer approval and qualifying conditions; automatic termination remains the backstop. See the CFPB PMI guide.
- Estimated APR uses net loan proceeds after finance fees, contractual principal-and-interest payments and standard required PMI. Voluntary extras, assumed early PMI cancellation, property tax, homeowners insurance, HOA and other closing costs are excluded. The monthly discount rate is multiplied by 12. This regular-period estimate is not a lender disclosure.
- First payment month anchors payment 1. No partial-month or daily interest, prepayment penalties, ARM adjustments, refinancing, FHA/VA/USDA rules, home appreciation or selling proceeds are modeled.
Calculations are estimates based on your assumptions and are not financial or investment advice. Actual results may differ. Read the financial disclaimer.