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Mortgage Calculator
Model a mortgage from scratch: payment, total interest, and a full amortization schedule month by month.
Know where you stand in your loan
An amortization schedule is the full map of your mortgage: the same principal and interest payment every month, split between interest and principal in a ratio that shifts over time. Early payments are mostly interest; late ones are mostly principal. Seeing the whole schedule makes clear exactly where you stand today.
Pair it with a recast
Before you recast, run your current loan through this mortgage calculator to confirm the balance, rate and months remaining you enter. After the recast, the lower balance creates a new schedule with the same term and rate, which is exactly what this tool recalculates.
One number to check
Your servicer's statement shows your exact remaining balance and months. Using those in any calculator beats guessing from the original loan amount and term.
The standard formula
This tool uses the same amortization formula as every mortgage origination system: M = P[r(1+r)^n] / [(1+r)^n - 1], with your monthly rate and remaining months. The result is an estimate, and your servicer's figures may differ by a few cents due to rounding and day-count conventions.
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