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 - 2026-10-08Tax 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 10 mo
Monthly payment$2,571Before PMI drop
Principal and interest$2,181Loan payment only
Interest saved$150,6038 yr 2 mo sooner
PMI drops5 yr$131.25/mo today
Payment Breakdown
Principal and interest$2,181.00
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 | $29,171.96 | $6,064.92 | $23,107.04 | $308,935.08 |
| Year 2 | $29,171.96 | $6,529.26 | $22,642.69 | $302,405.82 |
| Year 3 | $29,171.96 | $7,029.16 | $22,142.80 | $295,376.66 |
| Year 4 | $29,171.96 | $7,567.32 | $21,604.63 | $287,809.34 |
| Year 5 | $29,171.96 | $8,146.69 | $21,025.26 | $279,662.65 |
| Year 6 | $29,171.96 | $8,770.42 | $20,401.53 | $270,892.22 |
| Year 7 | $29,171.96 | $9,441.90 | $19,730.05 | $261,450.32 |
| Year 8 | $29,171.96 | $10,164.80 | $19,007.16 | $251,285.52 |
| Year 9 | $29,171.96 | $10,943.04 | $18,228.92 | $240,342.49 |
| Year 10 | $29,171.96 | $11,780.86 | $17,391.10 | $228,561.63 |
| Year 11 | $29,171.96 | $12,682.83 | $16,489.13 | $215,878.80 |
| Year 12 | $29,171.96 | $13,653.85 | $15,518.11 | $202,224.95 |
| Year 13 | $29,171.96 | $14,699.22 | $14,472.74 | $187,525.73 |
| Year 14 | $29,171.96 | $15,824.62 | $13,347.33 | $171,701.11 |
| Year 15 | $29,171.96 | $17,036.19 | $12,135.77 | $154,664.92 |
| Year 16 | $29,171.96 | $18,340.52 | $10,831.44 | $136,324.41 |
| Year 17 | $29,171.96 | $19,744.71 | $9,427.25 | $116,579.70 |
| Year 18 | $29,171.96 | $21,256.40 | $7,915.55 | $95,323.30 |
| Year 19 | $29,171.96 | $22,883.84 | $6,288.12 | $72,439.46 |
| Year 20 | $29,171.96 | $24,635.87 | $4,536.08 | $47,803.59 |
| Year 21 | $29,171.96 | $26,522.05 | $2,649.91 | $21,281.54 |
| Year 22 | $21,945.11 | $21,281.54 | $663.57 | $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: $319,556.