See exactly where every dollar of your mortgage goes — and how extra payments can erase years of interest.
Loan Details
$
= 20% of home price · $240,000 loan
$
240,000
Loan-to-Value
80.0%
Down Payment %
20.0%
Equity at Closing
$60,000
⚠ PMI May Apply — Lenders typically require Private Mortgage Insurance when your down payment is under 20% (LTV > 80%). PMI adds $50–$200/month to your payment. Reach 20% equity to remove it.
%
Extra payments apply directly to principal, reducing your balance — and canceling future interest charges permanently.
$
$
$
Monthly Payment
—
Total Interest Paid
—
Total Cost of Loan
—
Payoff Date
—
⟩ Your Next Payment Breakdown
Principal Paid
—
Interest Paid
—
Remaining Balance
—
🎯
Interest
Principal
Extra Payment
How payments change over the life of your loan. As your balance drops, a larger share goes toward principal — and less goes to interest.