Mortgage Calculator & Amortization Schedule
Mortgage Calculator with Amortization Schedule
Calculate your total monthly mortgage payment including principal, interest, taxes, insurance, and PMI with full amortization schedule export.
Shortens loan term & saves interest
Monthly Payment Breakdown
Principal & Interest: $2,023 • Taxes: $400 • Insurance: $100
| Period | Payment | Principal | Interest | Total Interest | Balance |
|---|---|---|---|---|---|
| Year 1 | $24,271.44 | $3,576.76 | $20,694.68 | $20,694.68 | $316,423.24 |
| Year 2 | $24,271.44 | $3,816.28 | $20,455.16 | $41,149.84 | $312,606.96 |
| Year 3 | $24,271.44 | $4,071.88 | $20,199.56 | $61,349.4 | $308,535.08 |
| Year 4 | $24,271.44 | $4,344.57 | $19,926.87 | $81,276.27 | $304,190.51 |
| Year 5 | $24,271.44 | $4,635.54 | $19,635.9 | $100,912.17 | $299,554.97 |
| Year 6 | $24,271.44 | $4,946 | $19,325.44 | $120,237.61 | $294,608.97 |
| Year 7 | $24,271.44 | $5,277.22 | $18,994.22 | $139,231.83 | $289,331.75 |
| Year 8 | $24,271.44 | $5,630.65 | $18,640.79 | $157,872.62 | $283,701.1 |
| Year 9 | $24,271.44 | $6,007.75 | $18,263.69 | $176,136.31 | $277,693.35 |
| Year 10 | $24,271.44 | $6,410.11 | $17,861.33 | $193,997.64 | $271,283.24 |
| Year 11 | $24,271.44 | $6,839.41 | $17,432.03 | $211,429.67 | $264,443.83 |
| Year 12 | $24,271.44 | $7,297.46 | $16,973.98 | $228,403.65 | $257,146.37 |
| Year 13 | $24,271.44 | $7,786.17 | $16,485.27 | $244,888.92 | $249,360.2 |
| Year 14 | $24,271.44 | $8,307.62 | $15,963.82 | $260,852.74 | $241,052.58 |
| Year 15 | $24,271.44 | $8,864.02 | $15,407.42 | $276,260.16 | $232,188.56 |
| Year 16 | $24,271.44 | $9,457.63 | $14,813.81 | $291,073.97 | $222,730.93 |
| Year 17 | $24,271.44 | $10,091.05 | $14,180.39 | $305,254.36 | $212,639.88 |
| Year 18 | $24,271.44 | $10,766.86 | $13,504.58 | $318,758.94 | $201,873.02 |
| Year 19 | $24,271.44 | $11,487.93 | $12,783.51 | $331,542.45 | $190,385.09 |
| Year 20 | $24,271.44 | $12,257.3 | $12,014.14 | $343,556.59 | $178,127.79 |
| Year 21 | $24,271.44 | $13,078.2 | $11,193.24 | $354,749.83 | $165,049.59 |
| Year 22 | $24,271.44 | $13,954.06 | $10,317.38 | $365,067.21 | $151,095.53 |
| Year 23 | $24,271.44 | $14,888.61 | $9,382.83 | $374,450.04 | $136,206.92 |
| Year 24 | $24,271.44 | $15,885.71 | $8,385.73 | $382,835.77 | $120,321.21 |
| Year 25 | $24,271.44 | $16,949.6 | $7,321.84 | $390,157.61 | $103,371.61 |
| Year 26 | $24,271.44 | $18,084.76 | $6,186.68 | $396,344.29 | $85,286.85 |
| Year 27 | $24,271.44 | $19,295.92 | $4,975.52 | $401,319.81 | $65,990.93 |
| Year 28 | $24,271.44 | $20,588.22 | $3,683.22 | $405,003.03 | $45,402.71 |
| Year 29 | $24,271.44 | $21,967.04 | $2,304.4 | $407,307.43 | $23,435.67 |
| Year 30 | $24,268.88 | $23,435.67 | $833.21 | $408,140.64 | $0 |
Compare Top Mortgage & Refinance Rates
Estimated monthly principal & interest based on a $320,000 mortgage. Primary source: Freddie Mac PMMS (October 2026).
| Loan Product | Interest Rate | APR | Est. Monthly P&I | Action |
|---|---|---|---|---|
30-Year Fixed | 7.40% | 7.48% | $2,216/mo | Check Rates |
15-Year Fixed | 6.71% | 6.84% | $2,825/mo | Check Rates |
5/1 Adj. Rate (ARM) | 6.65% | 7.15% | $2,054/mo | Check Rates |
FHA / VA 30-Year | 6.85% | 7.35% | $2,097/mo | Check Rates |
Shop Multiple Lenders
Borrowers who compare 3+ quotes save an average of $84,000 over a 30-year term.
Points vs Zero-Cost
Paying discount points lowers your ongoing interest rate if you plan to stay 5+ years.
PMI Removal Rules
Request private mortgage insurance cancellation as soon as your loan-to-value reaches 80%.
Advertising & Affiliate Disclosure: ConvertSheet is an independent educational calculation service and may receive compensation from partner financial institutions when users click to compare rates. Zero client data or calculated figures are ever shared.
15-Year vs. 30-Year Mortgage Side-by-Side
Compare monthly payments against lifetime interest costs on a $320,000 loan.
| Financial Metric | 15-Year Fixed (5.8%) | 30-Year Fixed (6.5%) | Difference |
|---|---|---|---|
| Monthly P&I Payment | $2,666 | $2,023 | +$643 /mo |
| Total Interest Paid | $159,860 | $408,142 | -$248,283 |
| Total Cost of Mortgage | $479,860 | $728,142 | -$248,283 |
| Payoff Timeframe | 180 Months (15 Yrs) | 360 Months (30 Yrs) | 15 Years Sooner |
15-Year Forced Discipline vs. 30-Year Payment Flexibility
Guarantees full debt freedom in 15 years while saving $248,283 in interest. Ideal for stable, high-earning households where the +$643/mo higher payment stays below 28% of monthly income.
Protects cash-flow with a lower required payment ($2,023/mo). You can voluntarily apply the extra $643/mo toward principal when finances allow, achieving a 15-year payoff without strict obligation.
Direct Answer: Calculate your exact monthly mortgage payment (P&I, taxes, insurance, PMI), visualize loan payoff over time, and export the complete amortization schedule to Excel (.xlsx) with zero sign-up.
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About Mortgage Calculator & Amortization Schedule
Purchasing real estate is typically the single largest financial transaction in a person's life. ConvertSheet's Mortgage Calculator computes comprehensive PITI (Principal, Interest, Taxes, and Insurance) plus Private Mortgage Insurance (PMI) for loans with down payments below 20%. Unlike static calculators, this tool allows you to simulate extra monthly principal contributions to calculate interest saved and years shaved off your loan, with instant one-click export of the entire amortization table to Microsoft Excel (.xlsx) using SheetJS.
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How to Convert Mortgage Calculator & Amortization Schedule to Result Online in 3 Simple Steps
Convert your data effortlessly with zero installations and complete local privacy.
- 1Step 1:
Home Price & Down Payment
Input your target purchase price and down payment amount or percentage.
- 2Step 2:
Loan Terms & Escrows
Set the fixed interest rate, term length (30, 20, 15, or 10 years), annual property taxes, and homeowners insurance.
- 3Step 3:
Simulate & Export
Test extra principal payments to see interest savings, inspect the visual payoff balance curve, and download the full amortization schedule to Excel (.xlsx).
Frequently Asked Questions: Mortgage Calculator & Amortization Schedule
Answers to common questions regarding inputs, calculations, and mathematical methodology.
What is included in a PITI mortgage payment?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the comprehensive monthly housing payment escrowed by your mortgage servicer, including local property taxes and hazard insurance.
When does PMI (Private Mortgage Insurance) drop off?
PMI is automatically required on conventional loans when down payment is under 20% (loan-to-value > 80%). Under the Homeowners Protection Act, PMI drops off automatically once principal amortizes down to 78% of the original purchase value.
How does an extra monthly principal payment shorten the loan?
Every dollar paid in excess of your required monthly payment directly reduces the outstanding loan balance. Because interest is compounded on the remaining balance, paying extra accelerates equity buildup and saves thousands in cumulative interest.
Can I open the exported amortization schedule in Microsoft Excel or Google Sheets?
Yes! The exported .xlsx file is fully compatible with Microsoft Excel, Apple Numbers, Google Sheets, and LibreOffice Calc.
Add Mortgage Calculator & Amortization Schedule to Your Website or Blog
Enhance your financial articles, portals, or docs with this interactive calculator. 100% free, responsive, zero backend required.
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