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Mortgage Loan Calculation
Use this calculator to get an idea of what your monthly payment would be if you know the loan amount you’re looking for. You'll also be able to print an amortization schedule to see your payment breakdown for the life of the loan.

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Definitions
Mortgage amountThe original or expected balance for your mortgage.
Interest rateThe annual interest rate for this mortgage.
Term in yearsThe number of years over which you will repay this loan. The most common mortgage terms is 30 years.
Monthly paymentYour monthly principal and interest payment (P&I).
Total paymentsThe total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interestThe total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Prepayment typeThe frequency of prepayment. The options are None, Monthly, Yearly and One-time payment.
Prepayment amountThe amount that will be prepaid on your mortgage. This amount will be applied to the mortgage's principal balance, based on the prepayment type.
Start with paymentThis is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following months interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assume to happen before the first payment of the loan.
SavingsThe total amount of interest you will save over the full term of the mortgage by prepaying your mortgage.

This calculator is for illustrative purposes only. The information shown is designed to provide basic information about mortgage financing. Please consult with your tax advisor to determine the tax impact of home ownership and interest deductibility for your individual circumstances.

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