Mortgage Amortization Calculator

Estimate payment, interest, payoff timing, and full amortization details for a mortgage with optional taxes, insurance, HOA, and extra payments.

How to Use

  1. Enter home price, down payment, interest rate, and loan term.
  2. Optionally include taxes, insurance, HOA, and extra monthly principal.
  3. Choose whether your down payment is a dollar amount or percent.
  4. Review the payment summary, payoff impact, and amortization schedule below.
Loan Snapshot
Live payment and payoff overview based on your mortgage inputs.
Principal & Interest
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Estimated Total Payment
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Total Interest
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Projected Payoff
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Interest Saved
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Time Saved
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Loan Composition Principal vs Interest
Principal Interest
Escrow & Extra Taxes / Insurance / HOA / Extra
Taxes Insurance HOA Extra Principal
Enter your mortgage details to generate a payment breakdown and amortization schedule.
Extra payments can reduce total interest and shorten your payoff timeline.
Inputs & Settings
All calculations run locally in your browser.
Total purchase price of the property.
Enter either a fixed amount or a percentage of home price.
Annual mortgage rate before taxes and insurance.
Common terms are 15, 20, and 30 years.
Used for schedule dates and payoff month.
Optional extra amount applied directly to principal each month.
Optional annual property tax estimate.
Optional annual homeowners insurance estimate.
Optional monthly HOA or association dues.
Show Work (step-by-step)
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Work is shown using standard fixed-rate amortization formulas and monthly compounding assumptions unless otherwise stated.

Amortization Schedule

Review each payment’s split between principal and interest.

# Payment Date Payment Principal Interest Extra Balance
No amortization schedule yet. Enter values above to generate results.

Loan Totals

Purchase Price
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Down Payment
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Original Loan Amount
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Total Principal Paid
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Total Interest Paid
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Total Extra Paid
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Total Taxes
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Total Insurance
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Total HOA
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Overall Out-of-Pocket
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Mortgage Formulas

Fixed monthly payment: M = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]

  • M = monthly principal and interest payment
  • P = loan principal
  • r = monthly interest rate (APR ÷ 12)
  • n = total number of monthly payments

Taxes, insurance, HOA, and extra payments are shown separately so you can compare pure loan cost versus full monthly housing cost.

FAQ

What does amortization mean?

Amortization is the process of paying off a loan through scheduled payments over time, with each payment split between interest and principal.

Why is most of the early payment interest?

Because interest is charged on the remaining loan balance. Early in the loan, that balance is largest, so the interest portion is larger.

Do extra payments reduce the loan faster?

Yes. Extra principal lowers the outstanding balance sooner, which reduces future interest and can shorten the payoff timeline.

Are taxes and insurance part of amortization?

No. They are housing costs often collected with the mortgage payment, but they do not reduce principal. This tool separates them for clarity.

Tool Info

Last updated:

Designed for fixed-rate mortgage estimates and amortization planning. Actual lender results may vary due to fees, escrow handling, rounding, or payment timing rules.