Mortgage Calculator

Mortgage Calculator


  • Mortgage amount
    Original or expected balance for your mortgage.
  • Amortization Period
    The amortization period is the length of time it would take to pay off a mortgage in full, based on regular payments at a certain interest rate.
  • 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
    The annual fixed interest rate for this mortgage. Please note that the interest rate is different from the Annual Percentage Rate (APR), which includes other expenses such as mortgage insurance, and the origination fee and or point(s), which were paid when the mortgage was first originated. The APR is normally higher than the simple interest rate.

  • 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
    The 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
    The total amount of interest you will save by prepaying your mortgage.

  • Report amortization
    Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.

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 regard 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.

Being a responsible homeowner means understanding the details of your mortgage - how much you'll pay each month, how your payment is divided, and how long it will take to pay off your loan. This calculator helps you figure it out. Plus, you can see how things change when you add a little bit more to your payment each month.


Total Amount
Down Payment
Interest Rate
Amortization Period
Payment Period