Mortgage Savings Calculator — Compare Mortgage Options & Save Money

Mortgage Savings Calculator

Compare different mortgage options, calculate potential savings, and find the best mortgage plan for your financial situation.

Step 1: Mortgage Details

%
years

Understanding Mortgage Costs

Your mortgage costs depend on the loan amount, interest rate, and loan term. Lower interest rates and shorter terms typically result in lower total interest paid.

Step 2: Additional Details

per year
per year

About Mortgage Savings

Making extra payments, choosing a shorter term, or refinancing to a lower rate can significantly reduce your total interest paid and help you build equity faster.

Mortgage Savings Results

Summary
Mortgage Comparison
Payment Breakdown

Estimated Monthly Mortgage Payment

$1,266.71
Total Interest Paid: $206,016.79
Monthly Payment
$1,266.71
Total Interest Paid
$206,016.79
Total Cost of Loan
$456,016.79
Interest Savings Potential
$45,000

Mortgage Options Comparison

Loan Term Interest Rate Monthly Payment Total Interest Total Cost

Mortgage Payment Breakdown

Mortgage Calculation Formula

M = P × [r(1+r)^n] / [(1+r)^n – 1]

Where M is the monthly payment, P is the principal loan amount, r is the monthly interest rate, and n is the number of payments (loan term in months).

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