🏠 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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Complete Mortgage Calculator Guide – Calculate Your Home Loan Payments

Our advanced mortgage calculator helps you determine your monthly payment, total interest costs, and shows the powerful impact of making extra payments. Whether you’re buying your first home, refinancing, or considering different loan scenarios, this tool provides comprehensive analysis to help you make informed financial decisions.

How to Use the Mortgage Calculator

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

Benefits of Extra Mortgage Payments

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

Understanding Your Amortization Schedule

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

Frequently Asked Questions

What factors affect my mortgage payment?

Your monthly mortgage payment is determined by 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 included in your monthly payment.

Should I make extra mortgage payments?

Extra payments can save significant interest over time and help you pay off your mortgage early. However, consider your other debts, emergency fund, and investment opportunities before dedicating extra money to your mortgage.

How accurate is this mortgage calculator?

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

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

A 15-year mortgage typically has a lower interest rate but higher monthly payments. You’ll pay significantly 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.