Mortgage Amortization Calculator - See Where Every Dollar Goes
See exactly how each mortgage payment is split between principal and interest over time, and understand your full loan payoff schedule.
Target Home
Loan Details
Taxes & Insurance
How to lower your payment
- Increase down payment
- Choose longer loan term
- Lower purchase price
Estimated Monthly Payment
Total Monthly Payment
$2,628
Over 30 years, you'll pay $431,018 in interest - more than 1.3x your loan amount.
Principal & Interest
$2,086
Taxes
$417
Insurance
$125
Why your loan feels slow to pay off
In year 1, 87% of your payment goes to interest and only 13% reduces your balance.
At this rate, it takes until year 21 before more than half your payment builds equity.
On your $320,000 loan, you'll pay $431,018 in interest - 1.3x what you originally borrowed.
What this means for you
Switching to a 15-year term would cut your interest in half - but raise your monthly payment.
→ Should I refinance?Estimates based on your inputs. Actual results may vary. Terms →
A few things worth considering:
If the payment feels high - a lower home price or larger down payment will move the needle more than a slightly better rate.
If you're close to 20% down - getting there eliminates PMI and meaningfully reduces your monthly cost.
If you're comparing loan terms - a 15-year mortgage costs more monthly but saves significantly on total interest.
Is this payment too high?
Frequently asked questions
What to calculate next
Mortgage Payment Calculator - Estimate Your Monthly Payment & Total Cost
Most buyers use a mortgage payment calculator to estimate their monthly cost before deciding how much house they can afford.
Mortgage Payoff Calculator
Calculate how many years of payments you can skip by adding to your principal.
Should I Refinance? Calculator
Enter your current loan and new rate - get a clear yes/no decision with break-even analysis.