🏠 Mortgage Calculator 2025

Calculate your monthly payments and see how much you can save with extra payments

📊 Loan Parameters

Loan Amount ($)

Interest Rate (%)

Loan Term (Years)

Start Year

Start Month

Loan Amount

$204,500

Interest Rate

3.625%

Monthly Payment

$932.23

Total Interest

$131,523

Start Date

Jan 2025

💰 Add Extra Payments

Payment #

Extra Amount ($)

💵 Interest Saved

⏰ Time Saved

0 months

📅 New Payoff Date

📋 Amortization Schedule

#	Date	Payment	Principal	Interest	Extra	Balance

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Mortgage Calculator Guide – Calculate Your Home Loan Payments

Our mortgage calculator helps you figure out your monthly payment, total interest costs, and the impact of making extra payments. Whether you’re buying your first home, refinancing, or looking at different loan options, this tool provides helpful analysis to assist you in making smart financial choices.

How to Use the Mortgage Calculator

Simply enter your loan amount, interest rate, and loan term to see your monthly payment right away. The calculator updates instantly, showing how changes in any parameter affect your payment and total interest costs. You can also add extra payments for any month and see immediate savings.

Benefits of Extra Mortgage Payments

Making extra principal payments can save you thousands in interest and help you pay off your mortgage years sooner. Even an extra $100 per month can lead to significant savings over the life of your loan. Our calculator shows exactly how much you’ll save with different extra payment strategies.

Understanding Your Amortization Schedule

The amortization schedule displays how each payment is divided between principal and interest. Early in your loan, most of your payment goes toward interest. As time goes on, more goes toward principal. This schedule helps you see when it makes the most sense to make extra payments or refinance.

Frequently Asked Questions

What factors affecting my mortgage payment?

Your monthly mortgage payment is based on four main factors: loan amount (principal), interest rate, loan term (usually 15 or 30 years), and the start date. Property taxes and insurance may also be part of your monthly payment.

Should I make extra mortgage payments?

Making extra payments can save you money on interest over time and help you pay off your mortgage sooner. However, think about your other debts, emergency fund, and investment options before putting extra money toward your mortgage.

How accurate is this mortgage calculator?

This calculator gives good estimates based on the information you enter. However, your actual mortgage payment may include extra costs like property taxes, homeowners insurance, and PMI, which are not included in this simple calculation.

What’s the difference between 15-year and 30-year mortgages?

A 15-year mortgage usually has a lower interest rate but higher monthly payments. You will pay a lot less interest over the life of the loan but have less monthly cash flow. A 30-year mortgage has lower monthly payments but costs more in total interest.