This free mortgage amortization calculator shows how much of your monthly mortgage payment will go toward principal and interest over the life of your loan. The calculator also gives you the option to include your property tax and insurance so that you can have a more realistic estimate of the monthly payment amount.
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Using the Mortgage Calculator
Enter the purchase price, down payment, mortgage term, interest rate, property tax, and property insurance, then press Calculate. The calculation will show you
1. the monthly payment amount
2. total lifetime payment
3. total principal paid, and
4. total interest paid.
The calculator also gives you the amortization schedule in a yearly format with a chart to illustrate where your money is going.
Current Mortgage Rates
Your home may be the biggest purchase you make in your lifetime, so be sure you are getting the best deal you can. To see the current mortgage rates, use the tool below: