Mortgage calculator with extra payments

See your payment, total interest and payoff date, and how extra or biweekly payments change them.

—Monthly payment
—Loan amount
—Total interest
—Paid off in
—Interest saved
—Paid off sooner by

Results are estimates for planning only and are not financial advice. Check exact figures with your lender or provider.

Show yearly amortization table

Questions

How is the monthly mortgage payment calculated?

It uses the standard amortization formula: the loan amount, the monthly interest rate and the number of monthly payments give a fixed payment that covers principal and interest.

How much do extra payments save?

Every extra amount goes straight to the principal, so less interest builds up and the loan ends sooner. Enter an extra monthly payment to see the interest and time saved.

What is a biweekly mortgage payment?

You pay half the monthly payment every two weeks. That makes 26 half payments a year, which equals 13 monthly payments instead of 12, so the loan is paid off earlier.

Does this include taxes and insurance?

No. The result is principal and interest only. Property tax, home insurance, mortgage insurance and fees are extra and vary by location and lender.

Is my information stored?

No. Everything is calculated in your browser.