Mortgage Calculator
Estimate payment, PMI timing, extra-principal payoff, and interest saved with a fixed-rate loan model.
Loan amount$315,000
Inputs
Taxes, insurance, HOA, and PMI affect payment but not loan amortization.
Down payment$35,000 down (10%)
Rate default: FRED MORTGAGE30US - 2026-11-05Tax default: TN median county ACS effective-rate estimate - acs2024_5yr
Escrows and Add-ons
PMI
Extra Principal
Results
With extra principal - paid off in 21 yr 11 mo
Monthly payment$2,524Before PMI drop
Principal and interest$2,134Loan payment only
Interest saved$143,3868 yr 1 mo sooner
PMI drops4 yr 11 mo$131.25/mo today
Payment Breakdown
Principal and interest$2,133.92
Taxes$136.25
Insurance$122.50
HOA$0.00
PMI$131.25
Balance Over Time
Base vs. extra principalAnnual Principal vs. Interest
With extra scheduleAmortization
| Year | Paid | Principal | Interest | End balance |
|---|---|---|---|---|
| Year 1 | $28,607.04 | $6,191.14 | $22,415.89 | $308,808.86 |
| Year 2 | $28,607.04 | $6,650.59 | $21,956.44 | $302,158.26 |
| Year 3 | $28,607.04 | $7,144.14 | $21,462.90 | $295,014.13 |
| Year 4 | $28,607.04 | $7,674.31 | $20,932.73 | $287,339.82 |
| Year 5 | $28,607.04 | $8,243.82 | $20,363.21 | $279,096.00 |
| Year 6 | $28,607.04 | $8,855.60 | $19,751.44 | $270,240.40 |
| Year 7 | $28,607.04 | $9,512.78 | $19,094.26 | $260,727.62 |
| Year 8 | $28,607.04 | $10,218.73 | $18,388.31 | $250,508.89 |
| Year 9 | $28,607.04 | $10,977.07 | $17,629.97 | $239,531.82 |
| Year 10 | $28,607.04 | $11,791.68 | $16,815.36 | $227,740.14 |
| Year 11 | $28,607.04 | $12,666.75 | $15,940.29 | $215,073.39 |
| Year 12 | $28,607.04 | $13,606.76 | $15,000.28 | $201,466.64 |
| Year 13 | $28,607.04 | $14,616.52 | $13,990.52 | $186,850.12 |
| Year 14 | $28,607.04 | $15,701.22 | $12,905.82 | $171,148.90 |
| Year 15 | $28,607.04 | $16,866.42 | $11,740.62 | $154,282.48 |
| Year 16 | $28,607.04 | $18,118.08 | $10,488.95 | $136,164.39 |
| Year 17 | $28,607.04 | $19,462.64 | $9,144.40 | $116,701.75 |
| Year 18 | $28,607.04 | $20,906.97 | $7,700.06 | $95,794.78 |
| Year 19 | $28,607.04 | $22,458.49 | $6,148.55 | $73,336.29 |
| Year 20 | $28,607.04 | $24,125.15 | $4,481.89 | $49,211.14 |
| Year 21 | $28,607.04 | $25,915.49 | $2,691.55 | $23,295.65 |
| Year 22 | $24,076.84 | $23,295.65 | $781.18 | $0.00 |
Estimates only. Actual payment, escrows, PMI, and cancellation timing vary by lender, loan type, taxes, insurance, HOA, and servicing guidelines.
Displayed interest for the selected schedule: $309,825.