Mortgage Principal Calculator

The state of your loan’s principal is the crucial factor determining how much you have to pay every month, and, consequently, if you can afford it. The calculator evaluates the balance of your mortgage at any moment within the loan term.

Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Months Already Paid
Months Paid : (Months)
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Financial Analysis (Switch to Plain English)
Total Interests Paid : $60,095.07
Principal Applied : $20,428.17
Balance : $229,571.83
Plain English Help (Switch to Financial Analysis)

A mortgage balance - the principal of a mortgage - is always the key parameter for calculating the amounts of your monthly payments. The lower the balance - the lower the amount of interest on it - the lower the monthly payments. If you happen to have some extra funds to spend on your mortgage repayment, you'll definitely want to know how much you still owe after all these years. Enter the loan amount, the interest rate, the term, and the number of months already paid off.

If the total amount originally borrowed is $250,000.00 with an interest rate of 5.000% and a term of 30 years, after repaying your loan for 60 months, you will have paid $60,095.07 as the interest and only $20,428.17 towards the principal. If you subtract the $20,428.17 you have paid toward the principal from the original loan amount, this leaves you with $229,571.83 in principal left to be paid.
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