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 - 2026-09-10Tax 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$2,435Before PMI drop
Principal and interest$2,045Loan payment only
Interest saved$130,1717 yr 11 mo sooner
PMI drops4 yr 10 mo$131.25/mo today
Payment Breakdown
Principal and interest$2,045.18
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 | $27,542.14 | $6,445.41 | $21,096.73 | $308,554.59 |
| Year 2 | $27,542.14 | $6,894.88 | $20,647.26 | $301,659.71 |
| Year 3 | $27,542.14 | $7,375.69 | $20,166.45 | $294,284.03 |
| Year 4 | $27,542.14 | $7,890.02 | $19,652.12 | $286,394.01 |
| Year 5 | $27,542.14 | $8,440.23 | $19,101.91 | $277,953.78 |
| Year 6 | $27,542.14 | $9,028.80 | $18,513.34 | $268,924.97 |
| Year 7 | $27,542.14 | $9,658.42 | $17,883.72 | $259,266.56 |
| Year 8 | $27,542.14 | $10,331.94 | $17,210.20 | $248,934.61 |
| Year 9 | $27,542.14 | $11,052.43 | $16,489.71 | $237,882.18 |
| Year 10 | $27,542.14 | $11,823.17 | $15,718.97 | $226,059.01 |
| Year 11 | $27,542.14 | $12,647.65 | $14,894.49 | $213,411.36 |
| Year 12 | $27,542.14 | $13,529.62 | $14,012.52 | $199,881.74 |
| Year 13 | $27,542.14 | $14,473.10 | $13,069.04 | $185,408.64 |
| Year 14 | $27,542.14 | $15,482.37 | $12,059.77 | $169,926.27 |
| Year 15 | $27,542.14 | $16,562.03 | $10,980.11 | $153,364.24 |
| Year 16 | $27,542.14 | $17,716.97 | $9,825.17 | $135,647.27 |
| Year 17 | $27,542.14 | $18,952.45 | $8,589.69 | $116,694.83 |
| Year 18 | $27,542.14 | $20,274.08 | $7,268.06 | $96,420.74 |
| Year 19 | $27,542.14 | $21,687.88 | $5,854.26 | $74,732.86 |
| Year 20 | $27,542.14 | $23,200.27 | $4,341.87 | $51,532.59 |
| Year 21 | $27,542.14 | $24,818.13 | $2,724.01 | $26,714.46 |
| Year 22 | $27,542.14 | $26,548.80 | $993.34 | $165.66 |
| Year 23 | $166.59 | $165.66 | $0.93 | $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: $291,094.