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: Mighty Oaks static mortgage-rate fallback - 2026-07-11Tax 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 2 mo
Monthly payment$2,381Before PMI drop
Principal and interest$1,991Loan payment only
Interest saved$122,3507 yr 10 mo sooner
PMI drops4 yr 9 mo$131.25/mo today
Payment Breakdown
Principal and interest$1,991.01
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 | $26,892.17 | $6,611.84 | $20,280.33 | $308,388.16 |
| Year 2 | $26,892.17 | $7,054.65 | $19,837.52 | $301,333.51 |
| Year 3 | $26,892.17 | $7,527.11 | $19,365.06 | $293,806.39 |
| Year 4 | $26,892.17 | $8,031.22 | $18,860.95 | $285,775.17 |
| Year 5 | $26,892.17 | $8,569.08 | $18,323.09 | $277,206.09 |
| Year 6 | $26,892.17 | $9,142.97 | $17,749.20 | $268,063.11 |
| Year 7 | $26,892.17 | $9,755.29 | $17,136.88 | $258,307.82 |
| Year 8 | $26,892.17 | $10,408.62 | $16,483.55 | $247,899.20 |
| Year 9 | $26,892.17 | $11,105.71 | $15,786.46 | $236,793.49 |
| Year 10 | $26,892.17 | $11,849.48 | $15,042.69 | $224,944.01 |
| Year 11 | $26,892.17 | $12,643.06 | $14,249.11 | $212,300.95 |
| Year 12 | $26,892.17 | $13,489.79 | $13,402.38 | $198,811.16 |
| Year 13 | $26,892.17 | $14,393.23 | $12,498.95 | $184,417.93 |
| Year 14 | $26,892.17 | $15,357.17 | $11,535.00 | $169,060.77 |
| Year 15 | $26,892.17 | $16,385.66 | $10,506.51 | $152,675.10 |
| Year 16 | $26,892.17 | $17,483.04 | $9,409.13 | $135,192.06 |
| Year 17 | $26,892.17 | $18,653.91 | $8,238.26 | $116,538.15 |
| Year 18 | $26,892.17 | $19,903.20 | $6,988.97 | $96,634.94 |
| Year 19 | $26,892.17 | $21,236.16 | $5,656.02 | $75,398.79 |
| Year 20 | $26,892.17 | $22,658.38 | $4,233.79 | $52,740.41 |
| Year 21 | $26,892.17 | $24,175.85 | $2,716.32 | $28,564.55 |
| Year 22 | $26,892.17 | $25,794.96 | $1,097.22 | $2,769.60 |
| Year 23 | $2,787.54 | $2,769.60 | $17.95 | $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: $279,415.