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 - 2026-08-20Tax 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 1 mo
Monthly payment$2,412Before PMI drop
Principal and interest$2,022Loan payment only
Interest saved$126,8287 yr 11 mo sooner
PMI drops4 yr 9 mo$131.25/mo today
Payment Breakdown
Principal and interest$2,022.19
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 | $27,266.27 | $6,514.97 | $20,751.31 | $308,485.03 |
| Year 2 | $27,266.27 | $6,961.66 | $20,304.61 | $301,523.37 |
| Year 3 | $27,266.27 | $7,438.99 | $19,827.28 | $294,084.38 |
| Year 4 | $27,266.27 | $7,949.04 | $19,317.23 | $286,135.34 |
| Year 5 | $27,266.27 | $8,494.06 | $18,772.21 | $277,641.28 |
| Year 6 | $27,266.27 | $9,076.46 | $18,189.81 | $268,564.82 |
| Year 7 | $27,266.27 | $9,698.78 | $17,567.49 | $258,866.04 |
| Year 8 | $27,266.27 | $10,363.78 | $16,902.49 | $248,502.26 |
| Year 9 | $27,266.27 | $11,074.37 | $16,191.90 | $237,427.89 |
| Year 10 | $27,266.27 | $11,833.68 | $15,432.59 | $225,594.21 |
| Year 11 | $27,266.27 | $12,645.05 | $14,621.22 | $212,949.16 |
| Year 12 | $27,266.27 | $13,512.06 | $13,754.21 | $199,437.10 |
| Year 13 | $27,266.27 | $14,438.51 | $12,827.76 | $184,998.59 |
| Year 14 | $27,266.27 | $15,428.48 | $11,837.79 | $169,570.11 |
| Year 15 | $27,266.27 | $16,486.33 | $10,779.94 | $153,083.78 |
| Year 16 | $27,266.27 | $17,616.71 | $9,649.56 | $135,467.06 |
| Year 17 | $27,266.27 | $18,824.60 | $8,441.67 | $116,642.46 |
| Year 18 | $27,266.27 | $20,115.31 | $7,150.97 | $96,527.16 |
| Year 19 | $27,266.27 | $21,494.51 | $5,771.77 | $75,032.65 |
| Year 20 | $27,266.27 | $22,968.27 | $4,298.00 | $52,064.38 |
| Year 21 | $27,266.27 | $24,543.09 | $2,723.18 | $27,521.29 |
| Year 22 | $27,266.27 | $26,225.88 | $1,040.39 | $1,295.41 |
| Year 23 | $1,302.59 | $1,295.41 | $7.18 | $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: $286,161.