A lender quotes 6.75 percent on $320,000 for 30 years and your brain stops. CalcShift is a loan and mortgage payment calculator with amortization in the browser. You see the monthly payment, how much is interest vs principal in month one, and how the balance walks down. Use it to sanity-check a quote, to compare a 15 vs 30, to see why extra principal matters. Do not use it as a loan offer, a credit decision, or a complete PITI budget. Taxes, insurance, HOA, and PMI are often the other half of the escrow. This page is principal-and-interest math, private, no signup.
Enter principal, annual rate, term. Get a payment. Open the amortization: early years are mostly interest, which is not a conspiracy, it is how level payments work. Extra monthly principal, if the UI allows, shortens the tail. Rounding to cents per month is why a homemade spreadsheet can drift a few dollars by year 30.
When not to use it: ARM indexes, negative amortization, teaser rates, and income-driven student plans. Also skip it as the only input to 'can I afford this house' — maintenance exists. LandedShift is for import cost, not mortgages. PercentShift will not amortize. TipShift will not either, despite also being money.
Privacy is local: a possible house price in a tab is not a hard pull on your credit. Do not paste the amortization into a public forum with your address. Close the tab. The bank's Loan Estimate is still the document that matters. APR that bakes in fees is not the rate this table wants; put fees in cash-to-close unless you model them in.
$320,000, 6.75 percent, 30 years, monthly. Payment is about $2,075 principal and interest. Month one: most of that is interest, a few hundred is principal. A 15-year at the same rate jumps the payment hard and kills interest over the life. You still add ~$400/month tax/insurance in your budget because the calculator did not. No quote was requested from a lender through this page. A 15-year jump in payment is the interest you stop paying; it is still not a complete housing budget.
CalcShift amortizes in the browser. Loan amounts never upload and never hit a credit bureau. Close the tab when you have the payment. The lender's documents still govern. Loan amounts never hit a credit bureau from this tab; close it when you have the payment for your notes.
Full policy: Shift Privacy Policy. Questions: [email protected].
Level payments on a large balance. Interest is rate times current principal. Early principal is small. That is amortization, not a trick unique to your bank. Interest is rate times current principal; early years look 'all interest' because the balance is still huge.
No. Add it. Escrow packages tax and insurance on top of P&I. Affordability lives in that sum. Escrow packages tax and insurance on top of P&I; if you skip them, you are not asking whether you can afford the house.
This calculator wants the nominal rate used to amortize, not a marketing APR that bakes in fees. Fees belong in cash-to-close, not secretly in the rate unless you model them that way.
Only if the UI has that mode. A homemade 'half payment every two weeks' is 26 periods, not 24. Do not mix that with a monthly table and call it done.
Related tools: PercentShift · TipShift · LandedShift
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