Bankrate Mortgage Calculator with Amortization Schedule

Calculate your mortgage payments with detailed amortization schedule, just like Bankrate's calculator. Get comprehensive payment breakdowns and see how much you'll pay in interest over the life of your loan.

Loan Details
Enter your mortgage information to get accurate calculations

$300,000

20.0% of home price ($60,000)

Additional Costs
Monthly expenses beyond mortgage

$3,000

$1,200

Required if down payment < 20% ($0)

$0

Extra Payments
Pay off your mortgage faster

Monthly Payment

$1,517

Principal & Interest

Total Monthly

$1,867

Including all costs

Total Interest

$306,107

Over life of loan

Total Cost

$546,107

Principal + Interest

Payment Breakdown

Total Cost

$546,107
Over 30 years

Principal

$240,000
43.9% of total

Interest

$306,107
56.1% of total

Payment Breakdown

Principal43.9%
$240,000
Interest56.1%
$306,107
Interest vs Principal Ratio
You'll pay 56% in interest
That's $66,107 more than the original loan amount
Amortization Schedule
See how your loan balance decreases over time
YearPaymentPrincipalInterestBalance
1$1,517$217$1,300$239,783
1$1,517$230$1,287$237,317
2$1,517$246$1,271$234,455
3$1,517$262$1,255$231,401
4$1,517$280$1,237$228,143
5$1,517$298$1,219$224,666
6$1,517$318$1,199$220,957
7$1,517$340$1,177$216,999
8$1,517$362$1,155$212,776
9$1,517$387$1,130$208,270
10$1,517$413$1,104$203,463
11$1,517$440$1,077$198,333
12$1,517$470$1,047$192,860
13$1,517$501$1,016$187,021
14$1,517$535$982$180,790
15$1,517$571$946$174,142
16$1,517$609$908$167,049
17$1,517$650$867$159,481
18$1,517$693$824$151,405
19$1,517$740$777$142,790
20$1,517$789$728$133,597
21$1,517$842$675$123,788
22$1,517$898$619$113,323
23$1,517$958$559$102,156
24$1,517$1,023$494$90,242
25$1,517$1,091$426$77,530
26$1,517$1,164$353$63,967
27$1,517$1,242$275$49,495
28$1,517$1,325$192$34,054
29$1,517$1,414$103$17,579
30$1,517$1,509$8$0

How to Use Our Bankrate-Style Mortgage Calculator

Our mortgage calculator with amortization schedule works just like Bankrate's popular calculator. Simply enter your loan details to get instant results:

  • Loan Amount: Enter the total amount you're borrowing
  • Interest Rate: Input your annual interest rate (APR)
  • Loan Term: Choose your repayment period (15, 20, 30 years, etc.)
  • Start Date: Select when your payments begin

What You'll Get

  • Monthly payment amount
  • Total interest paid over the loan term
  • Complete amortization schedule
  • Payment breakdown by principal and interest
  • Remaining balance after each payment

Benefits of Our Bankrate-Style Calculator

  • Free to Use: No registration or fees required
  • Accurate Calculations: Uses standard mortgage formulas
  • Detailed Amortization: See every payment breakdown
  • Mobile Friendly: Works on all devices
  • Instant Results: Get answers immediately

Understanding Your Amortization Schedule

The amortization schedule shows how your mortgage payments are split between principal and interest. In the early years, most of your payment goes toward interest. As you progress, more goes toward paying down the principal balance.

Frequently Asked Questions

How accurate is this calculator compared to Bankrate?

Our calculator uses the same mathematical formulas as Bankrate and other major financial institutions, ensuring accurate results.

Can I calculate different loan types?

Yes! This calculator works for conventional loans, FHA loans, VA loans, and other mortgage types.

Does the calculator include taxes and insurance?

This calculator shows principal and interest only. For a complete payment including taxes and insurance, use our PITI calculator.

Can I see how extra payments affect my loan?

Yes! Enter additional monthly payments to see how they reduce your total interest and payoff time.

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