This tool is designed to help you demonstrate mortgage outcomes over time, not just quote a payment. It models a loan payment-by-payment so you can show how structure, timing, and strategy affect payoff timeline, total interest, payment volatility (ARM), and the impact of extra or accelerated payments.
Payment frequency changes results because interest is applied per period. “Accelerated” programs increase annual principal reduction by using a fraction of the monthly payment on a more frequent cadence, which typically shortens term and reduces interest.
Use extra payment (amount + interval + start payment) to answer “What if I add $X?” and quantify interest savings vs the no-extra baseline. Annual lump extras can model bonuses or tax refunds applied to principal.
For variable-rate loans, use the fixed-period and adjustment settings to illustrate payment volatility and exposure. The tool recalculates the payment at each rate change using remaining balance and term, subject to cap/floor.
“Rather than guessing or relying on averages, this tool simulates your loan payment-by-payment so you can see exactly how different strategies affect your outcome.”
Important Notice: This tool is provided for educational and illustrative purposes only. Results are estimates based on user-entered assumptions and do not constitute a loan offer, rate lock, or financial advice. Actual loan terms, rates, taxes, insurance, and payment schedules may vary based on lender policies, market conditions, and borrower qualifications. Users should consult qualified mortgage, tax, and financial professionals before making financial decisions.
The calculator builds a complete amortization schedule by iterating payment-by-payment. Summary values (totals, savings, highest payment) are derived from the schedule.
APR is converted to an effective per-payment rate using:
(1 + APR / CP)^(CP / PPY) − 1
CP = compounding periods per year; PPY = payments per year.
Base payment per period is computed using the standard PMT formula. For ARMs, payment is recalculated when the rate changes using the remaining balance and remaining periods.
These conventions match common “accelerated” programs marketed by lenders/servicers.
Extras (interval + start payment) and optional annual or additional payments are applied directly to principal, capped so that the combined payment never exceeds payoff amount (balance + interest) for the period.
Tax Returned per period is estimated as:
TaxReturned = InterestPaid × TaxReturnRate
Cumulative Tax Returned is the running total across the schedule.
Important Notice: This tool is provided for educational and illustrative purposes only. Results are estimates based on user-entered assumptions and do not constitute a loan offer, rate lock, or financial advice. Actual loan terms, rates, taxes, insurance, and payment schedules may vary based on lender policies, market conditions, and borrower qualifications. Users should consult qualified mortgage, tax, and financial professionals before making financial decisions.
| No. | Payment Date | Interest Rate | Interest Due | Payment Due | Extra Payments | Additional Payment | Principal Paid | Balance | Year | Tax Returned | Cumulative Tax Returned |
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| No. | Payment Date | Interest Rate | Interest Due | Payment Due | Principal Paid | Balance | Year | Tax Returned | Cumulative Tax Returned |
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| No. | Date | Rate | Payment | Interest | Principal | Extra | Balance |
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Important Notice – Educational Use Only
This tool is provided for general informational and educational purposes only and is not intended to constitute, and should not be relied upon as, financial advice, mortgage advice, tax advice, legal advice, or investment advice of any kind.
The calculations, projections, and scenarios generated by this tool are estimates only based on user-supplied inputs and assumptions. Actual loan terms, interest rates, payment schedules, fees, taxes, insurance, and financial outcomes may vary significantly based on lender underwriting, market conditions, borrower qualifications, regulatory requirements, and other factors outside the control of this tool.
This tool does not constitute a loan offer, commitment, approval, rate lock, or guarantee of any kind. Use of this tool does not create a lender-borrower relationship, advisor-client relationship, fiduciary relationship, or any other professional relationship.
Users should independently verify all results and consult with qualified mortgage professionals, financial advisors, tax professionals, and/or legal counsel before making any financial decisions.
To the maximum extent permitted by law, the creators, owners, operators, and distributors of this tool disclaim all liability for any direct, indirect, incidental, consequential, or other losses or damages arising out of or related to the use of, reliance on, or inability to use this tool or the information it provides.
By using this tool, you acknowledge and agree that you assume full responsibility for any decisions made based on its outputs.
Advisor/MLO Notice. If you are a mortgage loan officer, broker, agent, coach, or other advisor using this tool with a consumer or client, you acknowledge that:
1) You are solely responsible for ensuring your use of this tool complies with all applicable laws, regulations, licensing requirements, advertising rules, and company policies (including any required disclosures).
2) You must not represent the outputs of this tool as definitive, guaranteed, or lender-approved, and you must independently verify all figures against official lender disclosures (including Loan Estimates/Closing Disclosures) and any applicable product terms.
3) You remain solely responsible for any advice, recommendations, presentations, marketing claims, or communications you provide to consumers, including any reliance placed on calculations, illustrations, or scenarios produced by this tool.
4) You will obtain all necessary permissions and consents before sharing, storing, or transmitting any consumer information, and you agree not to enter sensitive personal data into this tool unless you have a lawful basis and appropriate safeguards.
This tool is provided “as is” and “as available” without warranties of any kind, whether express or implied, including but not limited to warranties of accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement.