How much can extra principal payments save me?

Making just one extra mortgage payment per year or adding $100-$200 to your monthly principal can shave years off your 30-year term and save you $50,000 to $100,000+ in interest over the life of the loan.

How do I read an Amortization Schedule?

An amortization schedule shows exactly how much of each monthly payment goes toward interest versus principal. In the early years, the vast majority goes to interest. As the balance decreases, more goes toward the principal.

What causes an Escrow shortage?

Escrow shortages occur if your property taxes or homeowners insurance premiums increase beyond the lender's estimates. If this happens, your monthly payment will increase to cover the deficit and the new, higher costs.

What is Mortgage Recasting?

Recasting is when you pay a large lump sum toward your principal and the lender recalculates your monthly payments based on the new, lower balance. It's cheaper than refinancing if you already have a low interest rate.

How does inflation affect my fixed-rate mortgage?

Inflation actually benefits fixed-rate borrowers. As prices and wages rise, your monthly mortgage payment remains the same, effectively reducing the 'real cost' of your debt over time.

Advanced Loan Calculator

Advanced loan calculator with detailed amortization schedules, prepayment analysis, interest savings, and DTI checks based on income.

Popular Scenarios

Reducing balance, annuity, and grace period options

Interest Models

Introductory pricing and post-intro rate behavior

Detailed Output

Payment table, principal-interest charts, and income analysis

Popular loan methods

Experimental Models

Start with the 3 core fields: loan amount, annual rate, and term. Then refine income and intro-rate settings for a more realistic view.

Loan Amount

Interest rate (%/yr)

This is the base rate when no intro-rate model is enabled.

Apply intro-rate model

Term (Years)

Monthly Income

First Month

$1.8K

~ $60 / month | $414 / week

Principal

$299

Interest

$1.5K

Total Interest

$346.8K

Total Payment

$646.8K

Interest as a share of principal115.6%

Risk level

Safe

The first payment uses about 22.5% of your monthly income.

Compare Loan Terms

25 yr

Best fit

Avg Payment / Month

$1.93K

Total Interest

$279,321.23

Total Paid

$579,321.23

Save $67,499.14 in interest

Results are estimates based on the values you entered. Share the link to send the same setup to someone else.

You may pay about 115.6% of the original loan amount in interest over the full term.

Loan Summary

Quick summary of the most important loan metrics before you move into detailed analysis.

Loan Amount

$300K

Total Interest

~ $346.8K

Total Payment

~ $646.8K

Monthly Payment

~ $1.8K/mo

First payment

$1.8K

Last payment

$1.8K

Equity Milestone

mo 222

Month when principal exceeds interest payment.

Debt-to-income ratio

22.5%

Safe

Payment structure

Principal: 46.4% | Interest: 53.6%

Calculation assumptions

Amortized (Fixed Payment) | 5.99%/Year | 30 yr

Amortization Schedule

Quick summary of the most important loan metrics before you move into detailed analysis.

First Month

$1,796.72

Last Month

$1,796.72

Total Interest

$346,820.38

Principal

Interest

Monthly Payment

Ending Principal

Equity Paid

mo	Principal	Interest	Monthly Payment	Ending Principal
mo 1	$299.22	$1,497.50	$1,796.72	$299,700.78
mo 2	$300.72	$1,496.01	$1,796.72	$299,400.06
mo 3	$302.22	$1,494.51	$1,796.72	$299,097.84
mo 4	$303.73	$1,493.00	$1,796.72	$298,794.12
mo 5	$305.24	$1,491.48	$1,796.72	$298,488.87
mo 6	$306.77	$1,489.96	$1,796.72	$298,182.11
mo 7	$308.30	$1,488.43	$1,796.72	$297,873.81
mo 8	$309.84	$1,486.89	$1,796.72	$297,563.97
mo 9	$311.38	$1,485.34	$1,796.72	$297,252.59
mo 10	$312.94	$1,483.79	$1,796.72	$296,939.65
mo 11	$314.50	$1,482.22	$1,796.72	$296,625.15
mo 12	$316.07	$1,480.65	$1,796.72	$296,309.08

mo 1

+$299.22L: $1,497.50

mo 2

+$300.72L: $1,496.01

mo 3

+$302.22L: $1,494.51

mo 4

+$303.73L: $1,493.00

mo 5

+$305.24L: $1,491.48

mo 6

+$306.77L: $1,489.96

mo 7

+$308.30L: $1,488.43

mo 8

+$309.84L: $1,486.89

mo 9

+$311.38L: $1,485.34

mo 10

+$312.94L: $1,483.79

mo 11

+$314.50L: $1,482.22

mo 12

+$316.07L: $1,480.65

Download schedule

Financial Insights

Quickly see the effect of paying extra principal or changing the loan term.

First Month

$1.8K

Recommended Income

$8K

Debt-to-income ratio

22.5%

Risk level

Safe

Pay extra principal each month

If you add $600 to principal each month:

Potential interest savings

$175.4K

Possible term reduction

13.6 yr

Income-based risk check

The first payment uses about Risk level of your monthly income.

National Market Index Data

Loan Rates by Lender

Compare introductory and standard rates to evaluate the true borrowing cost more accurately.

Updated: August 2026

All 26 lenders →

Navy Federal Credit Unioncredit_union

Best Intro Rate

Intro Rate5.375%

Standard Rate (Est.)5.99%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.75% APY

Calculate 5.375% →

PenFed Credit Unioncredit_union

Intro Rate5.75%

Standard Rate (Est.)6.375%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.8% APY

Calculate 5.75% →

PNC Bankcommercial

Intro Rate5.75%

Standard Rate (Est.)6.5%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.25% APY

Calculate 5.75% →

BMO Bank USAcommercial

Intro Rate5.75%

Standard Rate (Est.)6.45%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.75% →

Fifth Third Bankcommercial

Intro Rate5.75%

Standard Rate (Est.)6.45%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.75% →

Morgan Stanley Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.5%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

Northern Trustcommercial

Intro Rate5.875%

Standard Rate (Est.)6.45%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

Ally Bankdigital

Intro Rate5.875%

Standard Rate (Est.)6.5%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.5% APY

Calculate 5.875% →

KeyBankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.55%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

TD Bank USAcommercial

Intro Rate5.875%

Standard Rate (Est.)6.669%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.3% APY

Calculate 5.875% →

Regions Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.55%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

M&T Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.722%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

First Citizens Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.55%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

Citizens Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.5%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

Truist Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.55%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.2% APY

Calculate 5.875% →

Huntington National Bankcommercial

Intro Rate5.875%

Standard Rate (Est.)6.55%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4% APY

Calculate 5.875% →

Bank of Americacommercial

Intro Rate6%

Standard Rate (Est.)7.098%

Term10 - 30 years

High competitive CD rates with 12-Month yield around 4.3% APY

Calculate 6% →

Capital Onecommercial

Intro Rate6.5%

Standard Rate (Est.)7.0%

Term15 - 30 years

High competitive CD rates with 12-Month yield around 4.75% APY

Calculate 6.5% →

Goldman Sachs (Marcus)digital

Intro Rate6.5%

Standard Rate (Est.)7.0%

Term15 - 30 years

High competitive CD rates with 12-Month yield around 4.8% APY

Calculate 6.5% →

Discover Bankdigital

Intro Rate6.5%

Standard Rate (Est.)7.0%

Term15 - 30 years

High competitive CD rates with 12-Month yield around 4.65% APY

Calculate 6.5% →

Lender		Standard Rate (Est.)	Term	Notes
Navy Federal Credit UnionBest Intro Rate	5.375%	5.99%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.75% APY	Calculate
PenFed Credit Union	5.75%	6.375%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.8% APY	Calculate
PNC Bank	5.75%	6.5%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.25% APY	Calculate
BMO Bank USA	5.75%	6.45%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Fifth Third Bank	5.75%	6.45%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Morgan Stanley Bank	5.875%	6.5%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Northern Trust	5.875%	6.45%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Ally Bank	5.875%	6.5%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.5% APY	Calculate
KeyBank	5.875%	6.55%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
TD Bank USA	5.875%	6.669%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.3% APY	Calculate
Regions Bank	5.875%	6.55%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
M&T Bank	5.875%	6.722%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
First Citizens Bank	5.875%	6.55%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Citizens Bank	5.875%	6.5%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Truist Bank	5.875%	6.55%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.2% APY	Calculate
Huntington National Bank	5.875%	6.55%	10 - 30 years	High competitive CD rates with 12-Month yield around 4% APY	Calculate
Bank of America	6%	7.098%	10 - 30 years	High competitive CD rates with 12-Month yield around 4.3% APY	Calculate
Capital One	6.5%	7.0%	15 - 30 years	High competitive CD rates with 12-Month yield around 4.75% APY	Calculate
Goldman Sachs (Marcus)	6.5%	7.0%	15 - 30 years	High competitive CD rates with 12-Month yield around 4.8% APY	Calculate
Discover Bank	6.5%	7.0%	15 - 30 years	High competitive CD rates with 12-Month yield around 4.65% APY	Calculate

View full rate tables for all 26 lenders →

Rates are for reference only. Actual borrowing cost depends on your credit profile and each lender's policy.

How-to guide summary

How to use the loan calculator

Enter the loan amount, annual interest rate, and term in years. The calculator instantly produces the monthly payment, an amortization schedule, total interest, and an income affordability check. Use the advanced mode to model promotional rates, grace periods, or floating-rate scenarios.

What the calculator covers

Standard reducing-balance and annuity methods for most loan types.
Optional promotional-rate and grace-period modeling in advanced mode.
Debt-to-income check against a 40% safe-DTI threshold.
Bank rate references are indicative and subject to change.

Step-by-step guide

Step 1 — Enter loan amount, annual interest rate, and term in years.
Step 2 — Review the loan summary: first payment, total interest, and total repayment.
Step 3 — Read the amortization chart and month-by-month schedule.
Step 4 — Check the income buffer and rate stress-test sections.
Step 5 — Use the comparison tool to evaluate alternative terms or structures.

View full calculation guide →

Accuracy note

Results are educational estimates. They do not include lender fees, insurance, taxes, or promotional adjustments unless modeled explicitly.
Always confirm final terms with your lender before committing.

Frequently Asked Questions

5 questions

Quick answers to common questions about loan calculations and repayment scenarios.

Still not seeing the answer you need?

Ask us

Advanced Loan Calculator

Loan Summary

Balance and Principal-Interest Structure

Amortization Schedule

Download schedule

Financial Insights

Income-based risk check

Loan Rates by Lender

How to use the loan calculator

What the calculator covers

Step-by-step guide

Accuracy note

Frequently Asked Questions

1How much can extra principal payments save me?

2How do I read an Amortization Schedule?

3What causes an Escrow shortage?

4What is Mortgage Recasting?

5How does inflation affect my fixed-rate mortgage?