Loan & Mortgage Calculator

Loan Details

$
$
20.0% down
%
years
$
Additional amount paid each month toward principal
Monthly Payment$1,517
Loan Amount$240,000
Total Interest$306,107
Total of Payments$546,107

Payment Breakdown

Principal
Interest
Principal: $240,000 (43.9%)
Interest: $306,107 (56.1%)

Loan Tips

20% Down Payment

For mortgages, 20% down helps avoid PMI (Private Mortgage Insurance), saving hundreds per month.

Compare Rates

Even 0.5% difference in interest rate can save tens of thousands over the life of a loan.

Extra Payments

Even small extra monthly payments can dramatically reduce total interest and loan duration.

Shorter Terms

15-year mortgages have higher payments but much lower total interest vs 30-year loans.