Mortgage Calculator with Amortization
Calculate monthly mortgage payments, total interest, and visualize your amortization schedule with this advanced reactive tool. Includes PDF export and market rate comparisons.
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
About
This Mortgage Calculator serves as a vital financial planning tool for prospective homeowners. It goes beyond simple monthly payment estimation by providing a detailed breakdown of how each payment is split between principal and interest over the life of the loan. Understanding this ratio is crucial for long-term financial health and wealth building.
The tool includes an interactive amortization schedule and a visual pie chart to illustrate the total cost of borrowing. Users can also export their calculation scenarios to PDF for offline review or consultation with financial advisors. A built-in database of regional market rates helps benchmarks your offers against current averages.
Formulas
The calculation is based on the standard amortization formula:
Where: M is the monthly payment, P is the principal, r is the monthly interest rate (annual rate / 12), and n is the total number of payments.
Reference Data
| Year | Interest Paid | Principal Paid | Ending Balance |
|---|---|---|---|
| 1 | $14,250 | $5,100 | $294,900 |
| 5 | $13,100 | $6,250 | $268,500 |
| 10 | $11,500 | $7,850 | $225,100 |
| 20 | $6,800 | $12,550 | $98,400 |