Mortgage Principal Calculator

This calculator allow you to "peek into the future", allowing you to see the remaining balance of your mortgage after several months or years of payments.
Loan Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Months Already Paid
Months Paid : (Months)

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Name :
Phone # :

Financial Analysis (Switch to Plain English)
Total Interest Paid : $49,811.26
Principal Applied : $8,562.57
Balance : $241,437.43
Plain English Help (Switch to Financial Analysis)

Determining your mortgage loan principal - money you still owe to the bank for your house, can be very beneficial, particularly if you are looking to pay your mortgage off ahead of time. In order to figure out your remaining balance, you only need to know the loan amount, the interest rate on your loan, the length of your loan, and how many months you have already paid. Together, all of these factors will help you figure out the amount of principal you still owe.

As an example, pretend your total loan was for ${ $vars.Amount } with a { $vars.Interest }% interest rate. The original loan was for { $vars.Length } years, but you have already paid on the loan for { $vars.PaidPeriods } months. After paying on your loan for { $vars.PaidPeriods } months, you will have paid $49,811.26 in interest and only $8,562.57 toward the principal. If you subtract the $8,562.57 you have paid toward the principal from the original loan amount, this leaves you with $241,437.43 in principal left to be paid.
DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor.