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 - 2026-08-13Tax 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$2,416Before PMI drop
Principal and interest$2,026Loan payment only
Interest saved$127,4327 yr 11 mo sooner
PMI drops4 yr 9 mo$131.25/mo today
Payment Breakdown
Principal and interest$2,026.36
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 | $27,316.33 | $6,502.23 | $20,814.11 | $308,497.77 |
| Year 2 | $27,316.33 | $6,949.43 | $20,366.90 | $301,548.34 |
| Year 3 | $27,316.33 | $7,427.39 | $19,888.94 | $294,120.95 |
| Year 4 | $27,316.33 | $7,938.23 | $19,378.10 | $286,182.72 |
| Year 5 | $27,316.33 | $8,484.20 | $18,832.13 | $277,698.51 |
| Year 6 | $27,316.33 | $9,067.72 | $18,248.61 | $268,630.79 |
| Year 7 | $27,316.33 | $9,691.38 | $17,624.96 | $258,939.42 |
| Year 8 | $27,316.33 | $10,357.92 | $16,958.41 | $248,581.49 |
| Year 9 | $27,316.33 | $11,070.31 | $16,246.02 | $237,511.18 |
| Year 10 | $27,316.33 | $11,831.70 | $15,484.63 | $225,679.48 |
| Year 11 | $27,316.33 | $12,645.45 | $14,670.88 | $213,034.03 |
| Year 12 | $27,316.33 | $13,515.17 | $13,801.16 | $199,518.85 |
| Year 13 | $27,316.33 | $14,444.71 | $12,871.62 | $185,074.14 |
| Year 14 | $27,316.33 | $15,438.18 | $11,878.16 | $169,635.96 |
| Year 15 | $27,316.33 | $16,499.98 | $10,816.36 | $153,135.99 |
| Year 16 | $27,316.33 | $17,634.80 | $9,681.53 | $135,501.19 |
| Year 17 | $27,316.33 | $18,847.68 | $8,468.66 | $116,653.51 |
| Year 18 | $27,316.33 | $20,143.97 | $7,172.37 | $96,509.54 |
| Year 19 | $27,316.33 | $21,529.42 | $5,786.92 | $74,980.13 |
| Year 20 | $27,316.33 | $23,010.15 | $4,306.18 | $51,969.98 |
| Year 21 | $27,316.33 | $24,592.73 | $2,723.61 | $27,377.25 |
| Year 22 | $27,316.33 | $26,284.15 | $1,032.18 | $1,093.10 |
| Year 23 | $1,099.17 | $1,093.10 | $6.08 | $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: $287,059.