Wondering what a mortgage looks like broken down into monthly payments? Or how decreasing your down payment will impact what you pay over time? Use our calculators to run the numbers for yourself.
These calculations are tools for learning more about the mortgage process and are for educational/estimation purposes only. Calculator results are rounded down to the nearest dollar. Payment shown includes taxes and insurance (if entered into scenario) and mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.
For example, a Conventional fixed rate loan with the terms purchase price of $312,500, on a loan term of 360 months, down payment of 20%, and an interest rate of 6.625%, will result in an annual percentage rate of 6.716% with $3,448.12 in APR fees. Rate pulled 11/28/22, rates change daily. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval.
| Remaining Balance | $196,478 |
|---|---|
| Principal Paid | $3,522 |
| Interest Paid | $7,936 |
| Year | Beginning Balance | Principal | Interest | Payment | Remaining Balance |
|---|---|---|---|---|---|
| 1 | $200,000 | $3,522 | $7,936 | $11,458 | $196,478 |
| 2 | 196,478 | 3,666 | 7,792 | 11,458 | 192,812 |
| 3 | 192,812 | 3,815 | 7,643 | 11,458 | 188,997 |
| 4 | 188,997 | 3,970 | 7,488 | 11,458 | 185,027 |
| 5 | 185,027 | 4,132 | 7,326 | 11,458 | 180,895 |
| 6 | 180,895 | 4,300 | 7,158 | 11,458 | 176,595 |
| 7 | 176,595 | 4,476 | 6,982 | 11,458 | 172,119 |
| 8 | 172,119 | 4,658 | 6,800 | 11,458 | 167,461 |
| 9 | 167,461 | 4,848 | 6,610 | 11,458 | 162,613 |
| 10 | 162,613 | 5,045 | 6,413 | 11,458 | 157,568 |
| 11 | 157,568 | 5,251 | 6,207 | 11,458 | 152,317 |
| 12 | 152,317 | 5,465 | 5,993 | 11,458 | 146,852 |
| 13 | 146,852 | 5,687 | 5,771 | 11,458 | 141,165 |
| 14 | 141,165 | 5,919 | 5,539 | 11,458 | 135,246 |
| 15 | 135,246 | 6,160 | 5,298 | 11,458 | 129,086 |
| 16 | 129,086 | 6,411 | 5,047 | 11,458 | 122,674 |
| 17 | 122,674 | 6,672 | 4,786 | 11,458 | 116,002 |
| 18 | 116,002 | 6,944 | 4,514 | 11,458 | 109,058 |
| 19 | 109,058 | 7,227 | 4,231 | 11,458 | 101,830 |
| 20 | 101,830 | 7,522 | 3,936 | 11,458 | 94,309 |
| 21 | 94,309 | 7,828 | 3,630 | 11,458 | 86,481 |
| 22 | 86,481 | 8,147 | 3,311 | 11,458 | 78,334 |
| 23 | 78,334 | 8,479 | 2,979 | 11,458 | 69,855 |
| 24 | 69,855 | 8,824 | 2,634 | 11,458 | 61,030 |
| 25 | 61,030 | 9,184 | 2,274 | 11,458 | 51,846 |
| 26 | 51,846 | 9,558 | 1,900 | 11,458 | 42,288 |
| 27 | 42,288 | 9,947 | 1,510 | 11,458 | 32,341 |
| 28 | 32,341 | 10,353 | 1,105 | 11,458 | 21,988 |
| 29 | 21,988 | 10,775 | 683 | 11,458 | 11,214 |
| 30 | 11,214 | 11,214 | 244 | 11,458 | 0 |
Total Principal: $200,000
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