| Calculators >> Mortgage
Loan Calculator
Use this calculator to generate an amortization schedule
for your current mortgage. Quickly see how much interest
you will pay, and your principal balances. This calculator
also allows you to enter your estimated insurance and property
taxes. Press the "View Report" button for a full yearly
or monthly amortization schedule.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate
for this mortgage.
- Term
in years
- The
number of
years over
which you
will repay
this loan.
The most
common mortgage
terms are
15 years
and 30 years.
- Monthly
payment
- Monthly
principal
and
interest
payment
(PI).
- Monthly
payment
(PITI)
- Monthly
payment
including
principal,
interest,
home
owners
insurance
and
property
taxes.
- Annual
property
taxes
- The
annual
amount
you
expect
to
pay
in
property
taxes.
This
amount
is
divided
by
12
to
determine
the
monthly
property
tax
included
in
PITI.
- Annual
home
insurance
- The
annual
amount
you
expect
to
pay
in
home
owners
insurance.
This
amount
is
divided
by
12
to
determine
the
monthly
home
owners
insurance
included
in
PITI.
- Total
payments
- Total
of
all
monthly
payments
over
the
full
term
of
the
mortgage.
This
total
payment
amount
assumes
that
there
are
no
prepayments
of
principal.
- Total
interest
- Total
of
all
interest
paid
over
the
full
term
of
the
mortgage.
This
total
interest
amount
assumes
that
there
are
no
prepayments
of
principal.
- Prepayment
type
- The
frequency
of
prepayment.
The
options
are:
none,
monthly,
yearly,
and
one-time
payment.
- Prepayment
amount
- Amount
that
will
be
prepaid
on
your
mortgage.
This
amount
will
be
applied
to
the
mortgage
principal
balance,
based
on
the
prepayment
type.
- Start
with
payment
- This
is
the
payment
number
that
your
prepayments
will
begin
with.
For
a
one
time
payment,
this
is
the
payment
number
that
the
single
prepayment
will
be
included
in.
All
prepayments
of
principal
are
assumed
to
be
received
by
your
lender
in
time
to
be
included
in
the
following
month's
interest
calculation.
If
you
choose
to
prepay
with
a
one-time
payment
for
payment
number
ZERO,
the
prepayment
is
assumed
to
happen
before
the
first
payment
of
the
loan.
- Savings
- Total
amount
of
interest
you
will
save
by
prepaying
your
mortgage.
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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 can not 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.
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