Real Estate Calculator
Work out the monthly payment on any mortgage or investor loan, see how much goes to interest versus principal, and get the full payment schedule. Free, no sign-up needed.
How amortization works
An amortizing loan is paid off in equal monthly payments. Each payment covers that month's interest first, and the rest pays down the principal. Early on most of the payment is interest. As the balance falls, less interest builds up each month, so more of each payment goes to principal.
The monthly principal and interest payment is M = P × r(1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (the annual rate ÷ 12) and n is the number of monthly payments.
Payment types this calculator supports
Fully amortized: principal and interest every month, so the loan reaches zero at the end of the term. This is the standard 15-year or 30-year mortgage.
Interest-only: you pay only the interest, so the balance does not go down. Common on bridge loans, private money and some seller-finance deals.
Balloon: payments follow a long amortization schedule, but the remaining balance is due in one lump sum at an earlier date, such as a 30-year amortization with a 5-year balloon.
Fixed payment: you agree on a set monthly amount, and the calculator shows how long it takes to pay off and what is left at the balloon date.
Using it to analyze real estate deals
Investors use an amortization schedule to compare financing offers, size a seller-finance note, check what a subject-to loan's balance will be at a future date, and see how extra principal payments shorten a loan. Add property tax, insurance, PMI and HOA to see the full monthly cost, not just principal and interest.
Frequently asked questions
What is an amortization schedule?
It is a table of every loan payment showing how much goes to interest, how much goes to principal, and the balance left after each payment.
How do I calculate my monthly mortgage payment?
Enter the property value, down payment, interest rate and loan term. The calculator works out the monthly principal and interest payment and adds property tax, insurance, PMI and HOA if you enter them.
How much do extra principal payments save?
Any extra amount paid toward principal lowers the balance that interest is charged on, so the loan is paid off sooner and total interest falls. Enter an extra monthly amount to see the interest saved and how many months it takes off the loan.
Can I calculate an interest-only or balloon loan?
Yes. Switch the payment type to interest-only, or set a loan term or balloon date shorter than the amortization term to see the balloon payment due at the end.
Is this amortization calculator free?
Yes. It is free to use and needs no account. A free ReiSearch account adds AI comps, underwriting and investor decks for real properties.