Mortgage Payment

The Mortgage Payment Calculator allows you to calculate monthly payments, average monthly interest, total interest, and total payment.

Mortgage Amount
$
Interest Rate
%
Amortization Length
years
Starting date

Prepayment Method

Prepayment Amount
$
Prepayment After Month
$
Full Amortization Table?

Display Using

Instructions

To use this calculator change the above fields as desired.

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Explanations
  • Mortgage Amount: Enter your mortgage amount this is the Principal Loan Balance
  • Interest Rate (%): Enter the annual interest rate 
    CANADIANS: Add a C (e.g. 7.75C) to use a conversion factor to convert Canadian rates to a US equivalent to use in the calculations.
  • Amortization Length: Years, typically 30 or 15 in the US, 25 in Canada
  • Starting Month Year: Select the starting month and enter the year
  • Show full amortization table? No or Yes (This is a long table)
  • Pre-payment method options:
    None: No Prepayments
    Monthly: Pre-pay a set amount each month
    Annually: Pre-pay a set amount once each year
    Bi-weekly A: 26 half paymts/yr - 2 half pre-paymts each 6 months
    Bi-weekly B: 26 half paymts/yr - 1 full pre-paymt each 12 months
    One Time: Pre-pay one set amount after a given # of months
  • Prepayment Amount: Monthly/Annually/One-Time Principal Prepayment Amount
  • Prepayment after month: One-Time Prepayment to be paid after payment number of months
  • Display Using: HTML 3.0 Tables or Plain Text
Examples
Frequently Asked Questions
Credits

Mortgage Payment

Version: 0.1

Author: Nicholas Alston

Hugh Chu