Remaining balance over time
Yearly schedule
| Year | Capital paid | Interest paid | Remaining balance | Remaining balance |
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Yearly schedule for mortgage 2
| Year | Capital paid | Interest paid | Remaining balance | Remaining balance |
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What this mortgage calculator does
This mortgage calculator estimates monthly mortgage repayments, total interest paid, total paid over the term, remaining balance over time, and the impact of overpayments for both repayment and interest-only mortgages.
Enter your loan amount (or property price and deposit), mortgage term, interest rate, mortgage type, and optional overpayments to instantly generate:
- Monthly repayment
- Total interest paid
- Total paid over the term
- Mortgage payoff date
- Interest saved from overpayments
- Time reduced from overpayments
- Full amortisation schedule
- Remaining balance by year
- Principal and interest breakdown
All calculations update instantly in your browser. No data is stored or transmitted.
This mortgage repayment calculator works globally. You can change country and currency in the header at any time.
To compare two mortgages side by side, use the mortgage comparison calculator, which preloads dual scenarios using the same calculation engine.
How repayment mortgages are calculated
In repayment mode, monthly payments are calculated using standard amortisation with monthly compounding. Each payment includes:
- Interest on the outstanding balance
- Principal repayment
As the loan progresses, the interest portion decreases and the principal portion increases. By the end of the term, the remaining balance reduces to zero.
How interest-only mortgages are calculated
In interest-only mode, monthly payments cover only the interest charged on the outstanding balance. The principal does not reduce unless additional payments are made.
At the end of the term, the remaining balance will equal the original loan amount unless repaid separately.
How overpayments are modelled
You can include recurring or additional payments to see how overpayments affect your mortgage.
The calculator recalculates the amortisation schedule to show:
- Interest saved over the term
- Reduction in total interest paid
- Earlier payoff date
- Updated remaining balance curve
Overpayments reduce the outstanding principal faster, which reduces future interest charged.
What your results show
After entering your details, the mortgage calculator displays:
- Monthly repayment
- Total interest paid
- Total paid over the term
- Mortgage payoff date
- Interest saved (if overpayments are added)
- Time reduced (if overpayments are added)
- Remaining balance over time
- Annual amortisation schedule
You can adjust inputs at any time to model different interest rates, terms, mortgage types, or overpayment strategies. Results update instantly so you can understand how each variable affects total cost and repayment structure.
Amortisation schedule
The amortisation schedule shows how your mortgage balance changes over time.
For each year (or month), it displays:
- Interest paid
- Principal repaid
- Remaining balance
This helps you understand:
- How quickly equity builds
- How interest is weighted in early years
- How the balance declines toward payoff
- The structural difference between repayment and interest-only mortgages
- The long-term effect of additional payments
Assumptions and limitations
This mortgage repayment calculator provides deterministic estimates based on fixed inputs.
Results assume:
- A constant interest rate for the full term
- Monthly compounding
- No refinancing or rate changes
- No lender-specific charges, penalties, or fees
- No taxes, insurance, escrow, or legal fees
Actual mortgage costs will vary depending on lender terms and local regulations. Always confirm details with your lender before making financial decisions.
Frequently asked questions
How is mortgage interest calculated?
Interest is calculated on the outstanding loan balance using the annual interest rate provided, divided into monthly compounding periods.
Does this mortgage calculator work outside the United States?
Yes. Calculations are rate-based and not country-specific. You can change country and currency in the header.
Can I include overpayments or extra payments?
Yes. You can model recurring or additional payments to see how they reduce total interest paid and shorten the mortgage term.
Is this the same as an APR calculation?
No. This calculator models repayments based on the interest rate entered. It does not include lender-specific APR adjustments or embedded fees unless manually added.