Mortgage Calculator with Extra Payments

Home price
Down payment
Mortgage term
Interest rate

Add extra payments:

Find out how making extra payments can help you pay off your house quicker.

To monthly mortgage payment
Extra yearly mortgage payment
Occurring every
One-time mortgage payment
Monthly Principal & Interest $999.03
Monthly Extra Payment $0
Estimated monthly payment $999.03
Down payment $52,000.00
Extra payments $0.00
Total principal paid $208,000.00
Total interest paid $151,650.40
Total of all payments $411,650.40
Start Date
Estimated Payoff Date

Amortization Schedule

Payment Date Payment Principal Interest Total Interest Balance
Use this mortgage calculator with PMI to see how much interest you should pay and determine the impact of insurance and taxes on your total monthly mortgage payment.
Have you decided to commit to an interest only mortgage? Use this free interest only mortgage calculator to calculate your monthly payments.
Use this mortgage calculator with extra payments to see how even small extra payments will save you months of payments and can help you to pay down your mortgage faster.

Mortgage Calculator Help

Home Price

The purchase price of the home you would like to buy. You can also enter the dollar amount that you think you will offer.

Down Payment

The down payment is money you should give to the home's seller. In the USA the down payments for home purchases typically vary between 3.5% and 20% of the purchase price. Most home loans require a down payment of at least 3%. At least 20% down typically allows you to avoid mortgage insurance.

Mortgage term

Mortgage term is the length of the mortgage you're planning. Choose from 30-year fixed or 15-year fixed. Your mortgage term can affect interest rate and monthly payments.

Interest Rate

This field is filled with the current average mortgage rate. Your real rate will vary based on credit score and down payment.

Mortgage Start Date

The date when the mortgage payments will start.

Extra payments

Making an extra payments pays down the principal and helps reduce the loan tenure. Even making small extra payments can shave years off your loan and save you thousands of dollars in interest.

Mortgage Calculator Use Cases

About Mortgage Calculator

This mortgage calculator - also known as an amortization schedule calculator - allows you to estimate your monthly mortgage payment. It also shows out how much of your repayments will go towards interest and how much will go towards the principal.

Consider different scenarios

Use this mortgage payment calculator compare the monthly payments for different scenarios. By changing the home price in the loan calculator you can estimate monthly payment and see if it still fits within your budget.

You can also use amortization schedule calculator to see the impact of making a higher down payment. By making higher down payment you decrease you monthly payment not only because it reduces the borrowed amount of money but also sometimes it can affect your interest rate.

In some cases higher down payment can help you avoid paying private mortgage insurance (PMI).

Decide if an ARM is applicable for you

ARM’s are mortgages whose rates adjust according to the terms of the contract you made with the lender. Usually interest rates are fixed for the first years. After that period is up, rates will be allowed to fluctuate within the limits of your contract with the lender.

Usually initial interest rate of an adjustable-rate mortgage (ARM) is lower and can be tempting. Try to enter the ARM rate into amortization schedule calculator leaving the term as 30 years and then compare your payments with the payments of 30-years fixed mortgage.

This will help determine whether the adjustable-rate mortgage (ARM) is much more profitable than fixed mortgage and worth risk.

See Where Your Money Is Going

A monthly mortgage payment is made up of a number of different costs. This mortgage payment calculator can show you exactly where your payment will go: principal or interest, property taxes and private mortgage insurance (PMI).

You can accurately predict monthly mortgage payment using this online simple mortgage calculator. It also shows the total amount of interest you should pay over the life of your mortgage.

It's very important to calculate what the mortgage payment will be and how much you can afford. Estimate your yearly payments and see the effect of adding additional payments.

Planning to pay off your mortgage early

You can find out how you can shorten your term by paying extra money toward your loan's principal every year, every month or even just one time.