Does this account for taxes and insurance?

No. This calculates principal and interest (P&I) only. For PITI estimates, add property tax and insurance separately.

How are extra payments applied?

Extra payments are applied directly to principal, shortening the term. The amortization table updates to show savings.

What is an amortization schedule?

A table showing each payment over the loan term, broken into how much goes to principal (reducing your debt) and how much goes to interest.

How do extra payments affect a mortgage?

Every dollar of extra payment reduces principal directly, which reduces future interest charges. Even $100/month extra can save thousands and shorten a 30-year mortgage by several years.

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Loan & Mortgage Calculator

Calculate monthly payment, total interest, and full amortization schedule.

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About this tool

Enter loan amount, interest rate, and term. Get monthly payment, total interest paid, and a downloadable amortization table. Supports extra payments and bi-weekly schedules.

How to use

1 Enter the loan amount (principal), annual interest rate, and loan term in years.
2 Review the monthly payment and total interest paid.
3 Scroll down to see the full amortization table: each payment broken into principal and interest.
4 Optionally add extra monthly payments to see how they shorten the loan and reduce total interest.

Frequently Asked Questions

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