Our mortgage loan calculator below can help you generate what your mortgage payments will cost. Use this calculator to quickly see your
principal balance and how much interest you will pay over the course of your loan. Just type in your mortgage amount, the loan term and the
interest rate and click "Calculate." Instantly you'll have your monthly payment. With the "View Schedule" button you can even
determine the impact of any principal prepayments!
Mortgage Amount: Your expected balance of your mortgage.
Term: The term is the number of years you will be expected to repay this loan. Terms range from 5 year to 35 year mortgages.
The most common being 15 and 30 year mortgage terms.
Interest Rate: Annual interest rate for your mortgage.
Monthly Payment: The amount you will pay each month on your loan. This payment includes your interest and monthly principal payment. Note: This does not include the taxes you'll pay on your home or your homeowners insurance.
Total Payments: This is a total of all montly payments over the full term of your loan.
Total Interest: The total of all interest paid over the full term of your mortgage.
Prepayment Type: You can choose the frequency of prepayment.
Prepayment Amount: The amount that will be prepaid on your mortgage loan. The prepayment will be applied to the principal balance of your mortgage.
Start With Prepayment: The payment number your prepayments will begin with. All prepayments made are assumed to be received by your lender in time to be included in the next month's interest calculation.
Savings: This is the total amount of interest you will save on your loan when you prepay on your mortgage.
Term: The term is the number of years you will be expected to repay this loan. Terms range from 5 year to 35 year mortgages.
The most common being 15 and 30 year mortgage terms.
Interest Rate: Annual interest rate for your mortgage.
Monthly Payment: The amount you will pay each month on your loan. This payment includes your interest and monthly principal payment. Note: This does not include the taxes you'll pay on your home or your homeowners insurance.
Total Payments: This is a total of all montly payments over the full term of your loan.
Total Interest: The total of all interest paid over the full term of your mortgage.
Prepayment Type: You can choose the frequency of prepayment.
Prepayment Amount: The amount that will be prepaid on your mortgage loan. The prepayment will be applied to the principal balance of your mortgage.
Start With Prepayment: The payment number your prepayments will begin with. All prepayments made are assumed to be received by your lender in time to be included in the next month's interest calculation.
Savings: This is the total amount of interest you will save on your loan when you prepay on your mortgage.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to
provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified
professionals regarding all personal finance issues.
