Mortgage Calculator

Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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Mortgage Amount: The original or expected balance for your mortgage.

Interest Rate: The annual interest rate for this mortgage.

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.

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.

Payment 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.

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

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Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.