Amortization Schedule
See how principal, interest and remaining balance change over time. Extra payments are reflected when entered above.
| Year | Payment | Principal | Interest | Extra Principal | Ending Balance |
|---|
How to Read Your Mortgage Estimate
Total monthly housing payment
Principal and interest are only part of the picture. Taxes, homeowners insurance, mortgage insurance when applicable, and HOA or condo dues can materially change the amount you need to budget each month.
Property tax & insurance
These costs are location- and property-specific. Use a local tax authority, insurance quote or current property information when possible rather than relying on a national default.
PMI is not one-size-fits-all
For many conventional mortgages, a borrower may request PMI cancellation when the balance reaches 80% of the home's original value if applicable conditions are met. Automatic termination generally uses a scheduled 78% threshold. FHA and VA rules differ.
Extra principal
The calculator shows the mathematical effect of applying extra money directly to principal. Confirm with your servicer how additional payments are applied and whether your loan has any relevant restrictions or fees.
Methodology & Official Sources
The principal-and-interest calculation uses the standard fixed-rate amortization formula. Housing-cost and PMI guidance below is based on U.S. consumer guidance; your actual lender documents control.
Consumer Financial Protection Bureau
Guidance on total monthly mortgage payments, Loan Estimates and PMI cancellation.
Total monthly payment guidancePMI cancellation guidance
Freddie Mac
Consumer education on amortization and how extra payments can affect a mortgage.
Extra payments calculator & guidance