Calculate your mortgage payments, visualize your amortization schedule, and make informed decisions about your home loan.
Amortization Schedule
Equity Build-up
Amortization Schedule Table
| Year | Interest | Principal | Balance |
|---|
Mortgage Insights
How to Save on Your Mortgage
- Make one extra payment per year to shorten your loan term
- Consider a bi-weekly payment plan to reduce interest
- Refinance when interest rates drop significantly
- Make a larger down payment to reduce your loan amount
Understanding Your Payment
- Principal: The amount going toward paying off your loan
- Interest: The cost of borrowing money from the lender
- Taxes & Insurance: Often collected in escrow for property expenses
- PMI: Private Mortgage Insurance required if down payment is less than 20%