What do you still owe after a given number of payments?
Mortgages are front-loaded: in the early years, most of every payment is interest, and your balance barely moves. This shows you exactly where you stand at any point in the loan — balance, principal paid, and how much has gone to interest.
Almost everyone who pulls up their balance a few years in has the same reaction: “I’ve paid how much, and still owe nearly all of it?” Nothing went wrong — it’s just how the math is built — but it’s a deflating thing to run into alone, with no context. I built this so you can see exactly where you stand at any point in the loan, on purpose instead of by surprise. Knowing your real balance, and how much of what you’ve paid has gone to interest, turns out to be the starting point for almost every decision that comes later — whether to refinance, pay a little extra, or simply stay the course.
— Matt Mergo · NMLS #563819This calculator is an educational estimate for a fixed-rate loan with standard monthly amortization and no extra payments. It tracks principal and interest only. Your servicer’s exact balance may differ slightly due to payment timing, rounding, and escrow. Forest Hills Mortgage · Matt Mergo, NMLS #563819. Equal Housing Lender.