Frequently asked questions

It's the first month where the principal portion of your payment is larger than the interest portion. Every fixed-rate amortized loan has one — early payments are interest-heavy because interest is calculated on your full remaining balance, and that balance is largest at the start.

Your statement usually shows this month's interest and principal split, not the trajectory across the whole loan. The crossover point only becomes visible when you look at the entire schedule at once, which is what the chart on the calculator does.

Any extra amount you enter is applied directly to principal each month, on top of your normal payment. That shrinks your balance faster, which lowers future interest charges, which moves your crossover point earlier and reduces total interest paid over the life of the loan.

No — this calculates the loan's amortization only: principal and interest based on the amount, rate, and term you enter. Property tax, homeowners insurance, and PMI are often bundled into a real mortgage payment but aren't part of the loan's amortization math itself.

That figure is principal plus every dollar of interest across the full term. On a 30-year loan, interest can add up to more than the original amount borrowed, especially at higher rates — seeing the total is exactly the point of this tool.

Yes — standard amortization is a fixed formula, not something lenders customize. Your actual lender may round differently or handle the final payment slightly differently, so treat this as a close estimate rather than the exact cent your lender will quote.

No. Everything is calculated locally in your browser and nothing is sent anywhere — see the Privacy Policy for the full explanation.

See the Contact page for the fastest way to reach us.