Loan Payment Calculator

How much will my mortgage payments be?

Purchase Price	$
Loan Amount	$
Mortgage term		years
Interest Rate		% per year
Property tax	$	per year
Property insurance	$	per year
Mortgage start date
Extra Payments:
Adding   $ to your monthly mortgage payment starting Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036203720382039
Adding   $ as an extra yearly mortgage payment every Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Adding   $ as a one-time mortgage payment in Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030203120322033203420352036203720382039
Changes the paid-off date to

	Principal And Interest	$1,023.26
	Taxes and insurance	$475.00
	Mortgage insurance	$97.50
	Total Payment	$1,595.76

This calculator calculates the savings in mortgage interest you realize by making prepayments for a given set of loan terms. It also calculates how many months sooner you will pay off the loan. The entire amount of additional payments is applied to amortizing the loan principal.

Some mortgage loans may have a prepayment penalty. Check with your lender to verify whether your loan has such a penalty.