Loan Payment Calculator

Mortgage Loan Calculator

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! Press the "View Report" button for a full yearly or monthly amortization schedule.

Mortgage Loan Calculator

Mortgage Loan Calculator Results

Based on the information you entered, your payment is MONTHLY_PI for TERM years with a rate of INTEREST_RATE.

**GRAPH**

Mortgage Summary
Loan amount	LOAN_AMOUNT
Term	TERM years
Interest rate	INTEREST_RATE
Monthly payment (PI)	MONTHLY_PI
Total principal and interest payments	TOTAL_OF_PAYMENTS
Total interest	INTEREST_PAID

Prepayment Results

Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years. PREPAY_MESSAGE

Prepayment Summary
Amount	PREPAY_AMOUNT PREPAY_TYPE
Start with payment	PREPAY_STARTS_WITH&NBSP;
Total payments	PREPAY_TOTAL_OF_PAYMENTS&NBSP;
Total interest	PREPAY_INTEREST_PAID&NBSP;
Interest savings	PREPAY_INTEREST_SAVINGS&NBSP;

Payment schedule

**REPEATING GROUP**

This Financial Calculator requires SUN's JavaT Plug-in. If you see this message you will need to download SUN's JavaT Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing "Install ActiveX Control".

Get the JavaT Plug-in!

For more information about this Plug-in please visit: SUN's JavaT Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Mortgage amount
Original or expected balance for your 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.
Interest Rate
Annual fixed interest rate for this mortgage.
Monthly payment
Monthly principal and interest payment (PI).
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.

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.

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