Mortgage & Loan Simulator | Take Control of Your Debt 🏠

Calculate monthly payments, track total interest, and generate a detailed amortization schedule for mortgages, auto loans, or personal financing.

💡 Why It Matters

Interest rates and loan terms often hide the true cost of borrowing. This simulator provides transparency, helping you optimize your repayment strategy and save money.

• Calculate Monthly Costs: Get an immediate, accurate breakdown of your monthly obligation.
• Visualize the Total Cost: See exactly how much interest you will pay over the life of the loan.
• Model Early Payoffs: Factor in one-time or recurring extra payments to see how much time and interest you can save.

📘 How to Use It

• Set Your Principal: Input the total loan amount (purchase price minus your down payment).
• Benchmark Interest Rates: Compare how even a 0.5% rate shift impacts your long-term wealth.
• Toggle Loan Terms: Compare 15-year and 30-year options to see the trade-off between monthly cash flow and total interest paid.
• Audit Your Amortization: Use the "Yearly View" for high-level planning or the "Monthly View" to track your balance decline period by period.

🧐 FAQ

Does this include insurance or taxes? No. This tool focuses on the principal and interest. Remember to add property taxes, PMI, or home insurance to your total monthly budget.

What repayment method is used? It uses the standard Fixed-Rate Amortization method, the industry norm for most US mortgages and consumer loans.

How accurate is the simulation? The math follows standard amortization formulas used by major banks. Use these figures for planning; actual bank offers may vary slightly based on specific compounding rules or lender-specific fees.

📊 Pro Tip: The Power of Early Payments

On a typical 30-year mortgage, your early payments are heavily weighted toward interest rather than principal. Making even modest extra payments during the first five years can shave years off your loan and save you tens of thousands of dollars in interest.