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 - 2026-09-17Tax default: TN median county ACS effective-rate estimate - acs2024_5yr
Escrows and Add-ons
PMI
Extra Principal
Results
With extra principal - paid off in 22 yr
Monthly payment$2,475Before PMI drop
Principal and interest$2,085Loan payment only
Interest saved$136,0598 yr sooner
PMI drops4 yr 10 mo$131.25/mo today
Payment Breakdown
Principal and interest$2,085.14
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 | $28,021.63 | $6,328.19 | $21,693.44 | $308,671.81 |
| Year 2 | $28,021.63 | $6,782.28 | $21,239.35 | $301,889.53 |
| Year 3 | $28,021.63 | $7,268.96 | $20,752.67 | $294,620.57 |
| Year 4 | $28,021.63 | $7,790.56 | $20,231.07 | $286,830.02 |
| Year 5 | $28,021.63 | $8,349.59 | $19,672.04 | $278,480.43 |
| Year 6 | $28,021.63 | $8,948.73 | $19,072.90 | $269,531.70 |
| Year 7 | $28,021.63 | $9,590.86 | $18,430.77 | $259,940.84 |
| Year 8 | $28,021.63 | $10,279.08 | $17,742.55 | $249,661.76 |
| Year 9 | $28,021.63 | $11,016.68 | $17,004.96 | $238,645.08 |
| Year 10 | $28,021.63 | $11,807.20 | $16,214.43 | $226,837.88 |
| Year 11 | $28,021.63 | $12,654.45 | $15,367.18 | $214,183.43 |
| Year 12 | $28,021.63 | $13,562.50 | $14,459.13 | $200,620.93 |
| Year 13 | $28,021.63 | $14,535.71 | $13,485.93 | $186,085.23 |
| Year 14 | $28,021.63 | $15,578.75 | $12,442.88 | $170,506.48 |
| Year 15 | $28,021.63 | $16,696.63 | $11,325.00 | $153,809.84 |
| Year 16 | $28,021.63 | $17,894.74 | $10,126.89 | $135,915.11 |
| Year 17 | $28,021.63 | $19,178.81 | $8,842.82 | $116,736.30 |
| Year 18 | $28,021.63 | $20,555.03 | $7,466.60 | $96,181.27 |
| Year 19 | $28,021.63 | $22,030.00 | $5,991.63 | $74,151.27 |
| Year 20 | $28,021.63 | $23,610.81 | $4,410.82 | $50,540.46 |
| Year 21 | $28,021.63 | $25,305.06 | $2,716.58 | $25,235.40 |
| Year 22 | $26,136.16 | $25,235.40 | $900.76 | $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: $299,590.