Your mortgage breakdown
Year-by-year schedule
Amounts rounded to whole dollars| Year | Principal paid | Interest paid | Remaining balance |
|---|
What these numbers mean
Method
The calculator uses the standard fixed-rate amortization formula: P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Interest is calculated each month on the remaining balance. At 0% interest, the loan amount is divided evenly across all months.
What is excluded
This estimate does not include property taxes, homeowners insurance, private mortgage insurance (PMI), HOA fees, closing costs, or extra payments. It assumes a fixed interest rate and does not model future rate changes.