Easy Mortgage Calculator

Mortgage Amount:
Original or expected balance of your mortgage.

Loan Term:
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 interest rate for this mortgage.

Prepayment:
The frequency of prepayment. Down payment is a one time payment that essentially reduces the amount of principal, monthly prepayments is the amount paid every month to reduce your principal loan.

Prepayment Amount:
Prepaid amount on your mortgage.

Start with Payment:
Payment number that your prepayments will start with.

Monthly Payment:
Sum of monthly principal and interest payment.

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 term of the mortgage. Total interest amount is calculated assuming that there were no prepayments or down payments.

Prepayment Savings:
Total amount of interest you will save by prepaying your mortgage.