Mortgage Repayment Calculator

A Quick Overview

This mortgage repayment calculator shows your payment, interest, and payoff path. It gives fast, clear numbers you can use right away. You get a full amortization schedule and a pie chart that compares principal and interest. You can add extra monthly payments, property tax, insurance, and homeowners association fees. Use it to plan, compare, and budget with confidence.

How It Works

The calculator uses standard fixed rate amortization math. Enter the loan amount, the annual interest rate, and the loan term in years. The calculator converts the rate to a monthly rate. It then calculates a fixed principal and interest payment.

Property tax and insurance are yearly figures. The calculator divides each by 12 and adds them to your monthly total. Homeowners association fees are monthly and go straight into the total payment.

Extra monthly payment goes to principal each month. This reduces the balance faster. You pay less interest over time and finish sooner.

Here is what the results show and how to read them:

• Principal and Interest: Your base monthly mortgage payment.
• Property Tax: Your monthly share of the yearly tax you entered.
• Insurance: Your monthly share of the yearly premium you entered.
• HOA Fees: Your monthly homeowners association fee.
• Total Monthly Payment: The sum of all monthly items above.
• Total of All Payments: The lifetime amount paid toward the loan and any extra payments.
• Total Interest Paid: The lifetime interest based on your inputs.
• Interest Savings and Months Saved: These show once you enter an extra monthly payment.
• Amortization Schedule: View a yearly summary or monthly details for the first 12 months.
• Pie Chart: See how principal compares to total interest across the loan.

What You Gain

You get clear, actionable numbers for real decisions. No fluff, just facts that help you plan. The mortgage repayment calculator lets you:

• Estimate a full monthly payment that includes taxes, insurance, and homeowners association fees.
• Compare loan terms and rates with side by side runs.
• Test extra payments and see savings and months saved.
• Read a clean schedule of principal, interest, extra, and balance.
• Share precise figures with a lender or advisor.

Keep these notes in mind for accurate use and reading of results:

• The model uses a fixed rate with monthly compounding.
• Property tax, insurance, and homeowners association fees affect your monthly total only.
• Total of All Payments includes principal, interest, and any extra payments.
• Taxes, insurance, and homeowners association fees are outside the loan totals.
• Monthly details show the first 12 months. Yearly view covers the full term.
• Rounding to cents can create small differences in totals.
• Interest rate range is 0.1 to 20 percent. Loan term range is 1 to 50 years.

Step-by-Step Guide

Follow these steps to use the mortgage repayment calculator and read every output with ease.

1. Enter Loan Amount in dollars. Use at least 1,000.
2. Enter Annual Interest Rate as a percentage. For example, type 5 for five percent.
3. Enter Loan Term in years. For example, 30 for a 30 year loan.
4. Enter an Extra Monthly Payment if you plan to pay more each month.
5. Enter Annual Property Tax in dollars. Your county can provide this figure.
6. Enter Annual Insurance in dollars. Use your homeowners insurance premium.
7. Enter Monthly HOA Fees in dollars. HOA means homeowners association.
8. Select Calculate to see the results.
9. Review the Payment Summary, the pie chart, and the Amortization Schedule.

What each input means and tips for choosing values:

• Loan Amount: The amount you plan to borrow, before fees and points.
• Annual Interest Rate: The stated yearly rate, not the annual percentage rate.
• Loan Term: The number of years until payoff under the base plan.
• Extra Monthly Payment: An extra amount you will add every month toward principal.
• Annual Property Tax: Your expected yearly property tax, divided by 12 in the result.
• Annual Insurance: Your expected yearly homeowners insurance premium, divided by 12 in the result.
• Monthly HOA Fees: Your monthly homeowners association dues.

How to interpret the key outputs and totals:

• Total Monthly Payment equals base principal and interest plus tax, insurance, and homeowners association fees.
• Total of All Payments shows lifetime principal and interest including extra payments.
• Total Interest Paid reflects interest over the life of the loan under your inputs.
• Interest Savings shows how much interest you avoid with extra payments.
• Loan Paid Off Early By shows months you shave off with extra payments.
• Amortization lines list payment, principal, interest, extra, and remaining balance.

Common use cases that show the calculator in action:

• Compare a 30 year term and a 15 year term using the same rate and amount.
• Test a rate change from 5 percent to 6 percent and see the new payment.
• Add 200 dollars as an extra monthly payment and review months saved.
• Add 3,600 for property tax and 1,200 for insurance and see your full monthly cost.
• Include a 100 dollar homeowners association fee to plan your budget with care.
• Start with 300,000 at 5 percent for 30 years to see a base payment near 1,610.46.

Use this mortgage repayment calculator to make clear choices before you sign. Run a few scenarios, save the numbers, and choose the plan that fits your life.