How much of your mortgage payment is interest

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Paying High Interest Rates on Your Debts? Save With a HELOC
Homeowners: Leverage Your Home Equity Today
Current Local Mortgage Rates
Current Personal Loan Rates
How Amortizing Payments Work
Example Amortization Table
Homeowners May Want to Refinance While Rates Are Low
Find Out What You Qualify For
How is interest calculated on a mortgage payment?
How much interest is usually on a mortgage?
Is it better to pay off interest or principal?

Calculate How Much of Each Debt Payment Goes to Principal or Interest

This calculator will help you to determine the principal and interest breakdown on any given payment number. Enter the loan's original terms (principal, interest rate, number of payments, and monthly payment amount) and we'll show how much of your current payment is applied to principal and interest.

Are you paying high interest rates on your debts? Consider obtaining a low-rate personal loan, a HELOC, or a local mortgage refinance to lower your monthly interest expense.

Calculator Personal Loan Rates HELOC Rates Mortgage Rates

Paying High Interest Rates on Your Debts? Save With a HELOC

Homeowners: Leverage Your Home Equity Today

Our rate table lists current home equity offers in your area, which you can use to find a local lender or compare against other loan options. From the [loan type] select box you can choose between HELOCs and home equity loans of a 5, 10, 15, 20 or 30 year duration.

Current Local Mortgage Rates

The following table shows current local 30-year mortgage rates. You can use the menus to select other loan durations, alter the loan amount, change your down payment, or change your location. More features are available in the advanced drop down

Current Personal Loan Rates

How Amortizing Payments Work

If you have a fixed-rate loan the amount paid each month is determined by the interest rate and the lenght of the loan. Lenders can look at the term of the loan and charge an interest rate which they feels compensates them for the risk of loss, the cost of inflation, their business overhead & their profit margin. With a fixed rate loan the amount of each payment stays the same across the duration of the loan, but the percent of each payment that goes toward principal or interest changes over time. Early on in the loan's term a relatively large share of the payment is applied toward interest, then as the borrower pays down the loan an increasing share of the payment goes toward interest.

Rather than using the above calculator repeatedly you can use an amortization schedule to print out the entire schedule for a loan. We host an amortization calculator which enables you to create printable amortization tables. It shows the monthly payments and amortization schedule for the principal and interest portion of loans, while other costs of borrowing like licensing or taxes are excluded.

Example Amortization Table

As an example, consider a 10 year loan for $250,000 at 8% APR with monthly payments. The monthly payment would be $3,033.19 throughout the duration of the loan. In the first payment $1,666.67 would go toward interest while $1,366.52 goes toward principal. In the final payment only $20.09 is spent on interest while $3,013.12 goes toward principal. An amortization chart for this example is listed below.

Payment Number	Amount	Principal	Interest	Balance
1	$3,033.19	$1,366.52	$1,666.67	$248,633.48
2	$3,033.19	$1,375.63	$1,657.56	$247,257.85
3	$3,033.19	$1,384.80	$1,648.39	$245,873.05
4	$3,033.19	$1,394.04	$1,639.15	$244,479.01
5	$3,033.19	$1,403.33	$1,629.86	$243,075.68
6	$3,033.19	$1,412.69	$1,620.50	$241,662.99
7	$3,033.19	$1,422.10	$1,611.09	$240,240.89
8	$3,033.19	$1,431.58	$1,601.61	$238,809.31
9	$3,033.19	$1,441.13	$1,592.06	$237,368.18
10	$3,033.19	$1,450.74	$1,582.45	$235,917.44
11	$3,033.19	$1,460.41	$1,572.78	$234,457.03
12	$3,033.19	$1,470.14	$1,563.05	$232,986.89
Year 1		$17,013.11	$19,385.17
13	$3,033.19	$1,479.94	$1,553.25	$231,506.95
14	$3,033.19	$1,489.81	$1,543.38	$230,017.14
15	$3,033.19	$1,499.74	$1,533.45	$228,517.40
16	$3,033.19	$1,509.74	$1,523.45	$227,007.66
17	$3,033.19	$1,519.81	$1,513.38	$225,487.85
18	$3,033.19	$1,529.94	$1,503.25	$223,957.91
19	$3,033.19	$1,540.14	$1,493.05	$222,417.77
20	$3,033.19	$1,550.40	$1,482.79	$220,867.37
21	$3,033.19	$1,560.74	$1,472.45	$219,306.63
22	$3,033.19	$1,571.15	$1,462.04	$217,735.48
23	$3,033.19	$1,581.62	$1,451.57	$216,153.86
24	$3,033.19	$1,592.16	$1,441.03	$214,561.70
Year 2		$18,425.19	$17,973.09
25	$3,033.19	$1,602.78	$1,430.41	$212,958.92
26	$3,033.19	$1,613.46	$1,419.73	$211,345.46
27	$3,033.19	$1,624.22	$1,408.97	$209,721.24
28	$3,033.19	$1,635.05	$1,398.14	$208,086.19
29	$3,033.19	$1,645.95	$1,387.24	$206,440.24
30	$3,033.19	$1,656.92	$1,376.27	$204,783.32
31	$3,033.19	$1,667.97	$1,365.22	$203,115.35
32	$3,033.19	$1,679.09	$1,354.10	$201,436.26
33	$3,033.19	$1,690.28	$1,342.91	$199,745.98
34	$3,033.19	$1,701.55	$1,331.64	$198,044.43
35	$3,033.19	$1,712.89	$1,320.30	$196,331.54
36	$3,033.19	$1,724.31	$1,308.88	$194,607.23
Year 3		$19,954.47	$16,443.81
37	$3,033.19	$1,735.81	$1,297.38	$192,871.42
38	$3,033.19	$1,747.38	$1,285.81	$191,124.04
39	$3,033.19	$1,759.03	$1,274.16	$189,365.01
40	$3,033.19	$1,770.76	$1,262.43	$187,594.25
41	$3,033.19	$1,782.56	$1,250.63	$185,811.69
42	$3,033.19	$1,794.45	$1,238.74	$184,017.24
43	$3,033.19	$1,806.41	$1,226.78	$182,210.83
44	$3,033.19	$1,818.45	$1,214.74	$180,392.38
45	$3,033.19	$1,830.57	$1,202.62	$178,561.81
46	$3,033.19	$1,842.78	$1,190.41	$176,719.03
47	$3,033.19	$1,855.06	$1,178.13	$174,863.97
48	$3,033.19	$1,867.43	$1,165.76	$172,996.54
Year 4		$21,610.69	$14,787.59
49	$3,033.19	$1,879.88	$1,153.31	$171,116.66
50	$3,033.19	$1,892.41	$1,140.78	$169,224.25
51	$3,033.19	$1,905.03	$1,128.16	$167,319.22
52	$3,033.19	$1,917.73	$1,115.46	$165,401.49
53	$3,033.19	$1,930.51	$1,102.68	$163,470.98
54	$3,033.19	$1,943.38	$1,089.81	$161,527.60
55	$3,033.19	$1,956.34	$1,076.85	$159,571.26
56	$3,033.19	$1,969.38	$1,063.81	$157,601.88
57	$3,033.19	$1,982.51	$1,050.68	$155,619.37
58	$3,033.19	$1,995.73	$1,037.46	$153,623.64
59	$3,033.19	$2,009.03	$1,024.16	$151,614.61
60	$3,033.19	$2,022.43	$1,010.76	$149,592.18
Year 5		$23,404.36	$12,993.92
61	$3,033.19	$2,035.91	$997.28	$147,556.27
62	$3,033.19	$2,049.48	$983.71	$145,506.79
63	$3,033.19	$2,063.14	$970.05	$143,443.65
64	$3,033.19	$2,076.90	$956.29	$141,366.75
65	$3,033.19	$2,090.75	$942.44	$139,276.00
66	$3,033.19	$2,104.68	$928.51	$137,171.32
67	$3,033.19	$2,118.71	$914.48	$135,052.61
68	$3,033.19	$2,132.84	$900.35	$132,919.77
69	$3,033.19	$2,147.06	$886.13	$130,772.71
70	$3,033.19	$2,161.37	$871.82	$128,611.34
71	$3,033.19	$2,175.78	$857.41	$126,435.56
72	$3,033.19	$2,190.29	$842.90	$124,245.27
Year 6		$25,346.91	$11,051.37
73	$3,033.19	$2,204.89	$828.30	$122,040.38
74	$3,033.19	$2,219.59	$813.60	$119,820.79
75	$3,033.19	$2,234.38	$798.81	$117,586.41
76	$3,033.19	$2,249.28	$783.91	$115,337.13
77	$3,033.19	$2,264.28	$768.91	$113,072.85
78	$3,033.19	$2,279.37	$753.82	$110,793.48
79	$3,033.19	$2,294.57	$738.62	$108,498.91
80	$3,033.19	$2,309.86	$723.33	$106,189.05
81	$3,033.19	$2,325.26	$707.93	$103,863.79
82	$3,033.19	$2,340.76	$692.43	$101,523.03
83	$3,033.19	$2,356.37	$676.82	$99,166.66
84	$3,033.19	$2,372.08	$661.11	$96,794.58
Year 7		$27,450.69	$8,947.59
85	$3,033.19	$2,387.89	$645.30	$94,406.69
86	$3,033.19	$2,403.81	$629.38	$92,002.88
87	$3,033.19	$2,419.84	$613.35	$89,583.04
88	$3,033.19	$2,435.97	$597.22	$87,147.07
89	$3,033.19	$2,452.21	$580.98	$84,694.86
90	$3,033.19	$2,468.56	$564.63	$82,226.30
91	$3,033.19	$2,485.01	$548.18	$79,741.29
92	$3,033.19	$2,501.58	$531.61	$77,239.71
93	$3,033.19	$2,518.26	$514.93	$74,721.45
94	$3,033.19	$2,535.05	$498.14	$72,186.40
95	$3,033.19	$2,551.95	$481.24	$69,634.45
96	$3,033.19	$2,568.96	$464.23	$67,065.49
Year 8		$29,729.09	$6,669.19
97	$3,033.19	$2,586.09	$447.10	$64,479.40
98	$3,033.19	$2,603.33	$429.86	$61,876.07
99	$3,033.19	$2,620.68	$412.51	$59,255.39
100	$3,033.19	$2,638.15	$395.04	$56,617.24
101	$3,033.19	$2,655.74	$377.45	$53,961.50
102	$3,033.19	$2,673.45	$359.74	$51,288.05
103	$3,033.19	$2,691.27	$341.92	$48,596.78
104	$3,033.19	$2,709.21	$323.98	$45,887.57
105	$3,033.19	$2,727.27	$305.92	$43,160.30
106	$3,033.19	$2,745.45	$287.74	$40,414.85
107	$3,033.19	$2,763.76	$269.43	$37,651.09
108	$3,033.19	$2,782.18	$251.01	$34,868.91
Year 9		$32,196.58	$4,201.70
109	$3,033.19	$2,800.73	$232.46	$32,068.18
110	$3,033.19	$2,819.40	$213.79	$29,248.78
111	$3,033.19	$2,838.20	$194.99	$26,410.58
112	$3,033.19	$2,857.12	$176.07	$23,553.46
113	$3,033.19	$2,876.17	$157.02	$20,677.29
114	$3,033.19	$2,895.34	$137.85	$17,781.95
115	$3,033.19	$2,914.64	$118.55	$14,867.31
116	$3,033.19	$2,934.07	$99.12	$11,933.24
117	$3,033.19	$2,953.64	$79.55	$8,979.60
118	$3,033.19	$2,973.33	$59.86	$6,006.27
119	$3,033.19	$2,993.15	$40.04	$3,013.12
120	$3,033.21	$3,013.12	$20.09	$0.00
Year 10		$34,868.91	$1,529.39
Grand Total		$250,000.00	$113,982.82

If you are considering making extra payments on a loan it is typically best to make them early in the loan term, as debt that is extinguished early is not accumulating interest for the remainder of the loan period.

Homeowners May Want to Refinance While Rates Are Low

The Federal Reserve has started to taper their bond buying program. Lock in today's low rates and save on your loan.

Are you paying too much for your mortgage?

Find Out What You Qualify For

Check your refinance options with a trusted local lender.

Answer a few questions below and connect with a lender who can help you refinance and save today!

How is interest calculated on a mortgage payment?

Interest on your mortgage is generally calculated monthly. Your bank will take the outstanding loan amount at the end of each month and multiply it by the interest rate that applies to your loan, then divide that amount by 12.

How much interest is usually on a mortgage?

The average interest rate for the most popular 30-year fixed mortgage is 6.59%, according to data from S&P Global, while the average monthly mortgage payment is currently $2,064 for a 30-year fixed mortgage. Mortgage interest rates are always changing, and there are a lot of factors that can sway your interest rate.

Is it better to pay off interest or principal?

Is It Better to Pay the Interest or Principal First? In general, you want to only be paying toward the principal as often as possible. Paying interest on your loan costs you more money, so it's been to avoid paying interest as much as possible within the terms of your loan.