Mortgage Calculator

Loan repayment (simple or full) with equal-payment or equal-principal amortization and a month-by-month schedule

Simple

Full

Loan amount

Annual rate (%)

Years

Equal payment

Equal principal

Monthly payment

1,703

Total payment

613,212

Total interest

313,212

Principal

Interest

Yearly summary (annual aggregates)

Year	Payment	Principal	Interest	Remaining
1	20,440	4,041	16,399	295,959
2	20,440	4,269	16,171	291,690
3	20,440	4,510	15,930	287,179
4	20,440	4,764	15,676	282,415
5	20,440	5,033	15,407	277,382
6	20,440	5,317	15,123	272,065
7	20,440	5,617	14,823	266,448
8	20,440	5,934	14,507	260,514
9	20,440	6,269	14,172	254,245
10	20,440	6,622	13,818	247,623
11	20,440	6,996	13,445	240,627
12	20,440	7,390	13,050	233,237
13	20,440	7,807	12,633	225,430
14	20,440	8,248	12,193	217,182
15	20,440	8,713	11,728	208,469
16	20,440	9,204	11,236	199,265
17	20,440	9,724	10,717	189,541
18	20,440	10,272	10,168	179,269
19	20,440	10,851	9,589	168,418
20	20,440	11,464	8,977	156,954
21	20,440	12,110	8,330	144,844
22	20,440	12,793	7,647	132,051
23	20,440	13,515	6,925	118,536
24	20,440	14,277	6,163	104,259
25	20,440	15,083	5,358	89,176
26	20,440	15,933	4,507	73,243
27	20,440	16,832	3,608	56,411
28	20,440	17,782	2,659	38,629
29	20,440	18,785	1,656	19,844
30	20,440	19,844	596	0

How to use

Enter the loan amount.
Enter the annual interest rate.
Set the term in years or months.
Choose equal-payment or equal-principal amortization.
Review the monthly payment, total interest, and the month-by-month repayment schedule.

A $300,000 loan at 6% over 30 years on equal payments costs about $1,799 per month.
Switching to equal-principal starts higher and falls each month, lowering the total interest paid.