Mortgage Guides & Resources

Understanding Your Mortgage Results

Looking at the yearly amortization schedule on our calculator, you can see how your loan balance decreases over time. In the beginning years, a large portion of your monthly payment goes toward interest. As the years pass, more of your payment goes toward the principal balance. This is why making extra payments early in your loan term can save you thousands of dollars in interest. Use these results to compare different loan terms, interest rates, and down payment amounts to find the best financial fit for your family.