United States · USD · Core Mortgage Tools
Amortization Calculator
Inspect every monthly payment and the annual principal, interest and balance totals.
Published mortgage reference: Freddie Mac PMMS, 2026-10-22 — 30-year 7.32%, 15-year 6.68%. These are dated conventional national averages, not your lender’s quote. Enter the applicable offered rate below.
Your inputs
Your estimate
Press Calculate estimate after entering your figures.
Educational estimate, not financial advice. Disclaimer · Methodology · Corrections.
How this estimate works
Each month, interest = opening balance × annual rate ÷ 12. The rest of the scheduled payment plus extra reduces principal. The final payment is capped at the remaining balance and interest.
Assumptions and limits
- Extra payments start with the first modeled payment and repeat every month. Enter today’s balance as the price and zero down payment to model an existing loan.
- Savings compare the same starting balance, rate and remaining term with and without extra payments. This model excludes prepayment penalties and fees.
- Month 1 is the first modeled payment, rather than a fixed historical calendar date. Download the monthly CSV to review the schedule.
References and further reading
Worked United States example: Amortization Calculator
This is a hypothetical arithmetic example in USD, not a current lender quote, market observation or borrower record. The same calculator model produces the figures below. Its input assumptions are shown so that you can reproduce or change the scenario.
| Assumed input | Illustration value |
|---|---|
| Home price ($) | 420,000 |
| Down payment ($) | 84,000 |
| Annual interest rate (%) | 6.82 |
| Loan term (years) | 30 |
| Extra principal every month ($) | 0 |
| Calculated measure | Result |
|---|---|
| Scheduled monthly P&I | $2,194.95 |
| Extra principal each month | $0.00 |
| Months to repay | 360 |
| Total interest with extra | $454,180.84 |
| Interest saved | $0.00 |
| Months saved | 0 |
Amounts use unrounded intermediate arithmetic and are rounded only for display. Selecting different costs, rates, payment dates or terms changes the result; no illustration value is prefilled into your personal financial fields.