Repayment of Housing Loan Calculator

Calculate your housing loan repayments, total interest paid, and create detailed amortization schedules. Compare different repayment scenarios and see how extra payments can save you money.

Housing Loan Repayment Calculator
Enter your loan details to calculate monthly repayments, total interest, and loan payoff timeline.
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
Understanding Housing Loan Repayments
Learn how housing loan repayments work and how to optimize your loan payoff strategy.

What is Housing Loan Repayment?

Housing loan repayment refers to the process of paying back your home loan over time. Each payment consists of both principal (the amount borrowed) and interest (the cost of borrowing). Understanding your repayment schedule helps you plan your finances and potentially save money through extra payments.

Key Components of Housing Loan Repayments

  • Principal: The original loan amount that you borrowed
  • Interest: The cost of borrowing money, calculated as a percentage of the remaining balance
  • Monthly Payment: Fixed amount paid each month (principal + interest)
  • Amortization: The process of paying off the loan over time

Benefits of Understanding Your Repayment Schedule

  • Plan your monthly budget effectively
  • Calculate total interest you'll pay over the loan term
  • Identify opportunities to save money through extra payments
  • Compare different loan terms and interest rates
  • Make informed decisions about refinancing

Tips for Optimizing Your Housing Loan Repayments

  • Make extra principal payments when possible to reduce total interest
  • Consider bi-weekly payments to make an extra payment per year
  • Refinance if interest rates drop significantly
  • Use our calculator to compare different scenarios