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Monthly P&I
$3K
Principal + interest
Monthly total
$3K
No extras
Total interest
$510K
Over 30 years
Total cost
$1.01M
Down + payments + tax/ins
The property
$
That's $100K down, $400K financed
%
APR / nominal annual rate
%
Extras (optional)
Paid on top of the standard monthly payment
$
$
$
$
Loan balance + equity over time
The balance line drops faster early on if you add extra principal. The cumulative interest line tells you how much of your payment has been pure bank profit so far.
Amortization (year by year)
How much of each year's payments went to principal vs. interest.
| Year | Payments this year | Interest | Principal | Balance end of year |
|---|---|---|---|---|
| 1 | $30,339 | -$25,868 | +$4,471 | $395,529 |
| 2 | $30,339 | -$25,569 | +$4,770 | $390,759 |
| 3 | $30,339 | -$25,249 | +$5,090 | $385,669 |
| 4 | $30,339 | -$24,909 | +$5,431 | $380,238 |
| 5 | $30,339 | -$24,545 | +$5,794 | $374,444 |
| 6 | $30,339 | -$24,157 | +$6,182 | $368,261 |
| 7 | $30,339 | -$23,743 | +$6,596 | $361,665 |
| 8 | $30,339 | -$23,301 | +$7,038 | $354,627 |
| 9 | $30,339 | -$22,830 | +$7,510 | $347,117 |
| 10 | $30,339 | -$22,327 | +$8,013 | $339,105 |
| 11 | $30,339 | -$21,790 | +$8,549 | $330,555 |
| 12 | $30,339 | -$21,218 | +$9,122 | $321,434 |
| 13 | $30,339 | -$20,607 | +$9,733 | $311,701 |
| 14 | $30,339 | -$19,955 | +$10,384 | $301,316 |
| 15 | $30,339 | -$19,259 | +$11,080 | $290,237 |
| 16 | $30,339 | -$18,517 | +$11,822 | $278,415 |
| 17 | $30,339 | -$17,726 | +$12,614 | $265,801 |
| 18 | $30,339 | -$16,881 | +$13,458 | $252,342 |
| 19 | $30,339 | -$15,979 | +$14,360 | $237,983 |
| 20 | $30,339 | -$15,018 | +$15,322 | $222,661 |
| 21 | $30,339 | -$13,992 | +$16,348 | $206,314 |
| 22 | $30,339 | -$12,897 | +$17,442 | $188,871 |
| 23 | $30,339 | -$11,729 | +$18,611 | $170,260 |
| 24 | $30,339 | -$10,482 | +$19,857 | $150,403 |
| 25 | $30,339 | -$9,152 | +$21,187 | $129,217 |
| 26 | $30,339 | -$7,734 | +$22,606 | $106,611 |
| 27 | $30,339 | -$6,220 | +$24,120 | $82,491 |
| 28 | $30,339 | -$4,604 | +$25,735 | $56,756 |
| 29 | $30,339 | -$2,881 | +$27,459 | $29,298 |
| 30 | $30,339 | -$1,042 | +$29,298 | $0 |