Mortgage Calculator
Calculate monthly mortgage payments and view amortization schedule
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Monthly Payment Breakdown
Amortization Schedule (Yearly Summary)
| Year | Principal Paid | Interest Paid | Ending Balance |
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How to Use Mortgage Calculator
- Enter your loan amount, annual interest rate, and loan term in years
- View monthly payment, total payment, and total interest instantly
- Scroll down to see the amortization schedule for the first 12 months
Frequently Asked Questions
How is the monthly payment calculated?
Using the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly rate, and n is total months.
Does it include taxes and insurance?
This calculator shows principal and interest only. Actual payments may include property tax, homeowner's insurance, and PMI.
What does the amortization table show?
It breaks down each monthly payment into principal and interest portions, showing how your balance decreases over time.