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Calculate your monthly mortgage payment, total interest, and full amortization schedule — plus the often-ignored real cost of the loan after inflation erodes your fixed payment.
The level monthly payment for a fully-amortizing fixed-rate loan is:
Where: P = loan amount (price − down payment), r = monthly rate (annual ÷ 12), n = total payments (years × 12), and i = annual inflation used to discount future payments to today's money.
Borrowing $320,000 (a $400,000 home with 20% down) at 6.5% for 30 years means a monthly payment of about $2,023 and roughly $408,000 in total interest — more than the amount borrowed. At 2.5% inflation, the real lifetime cost of those payments is about $514,000 in today's money rather than the $728,000 nominal total.
On that same $320,000 loan, adding $200 a month to every payment clears the mortgage about 4.5 years early and saves roughly $86,000 in interest.
Compare the Avalanche and Snowball methods across all your debts at once. See exactly when you'll be debt-free and how much interest each strategy costs.
Calculate how your savings grow with compound interest — choose daily, monthly, quarterly, or annual compounding, add regular deposits, and see the real inflation-adjusted value.