Educational planning tool
Texas Mortgage Loan, Payoff & Amortization Calculator
Explore a fixed-rate payment, complete monthly amortization, early payoff options, land-planning inputs, and side-by-side scenarios before a lender reviews your full file.
Monthly compounding. No account or personal data required. CSV, print and share tools.
Loan setup and estimated payment
Enter an assumed loan amount, annual interest rate, and term to estimate monthly principal and interest. Optional inputs include property taxes, home insurance, HOA dues, PMI, and fixed-rate, interest-only, or balloon repayment structures.
The calculator uses monthly compounding and the standard fixed-rate payment formula. A zero-rate calculation uses principal divided by the number of monthly payments.
Extra payment, early payoff and bi-weekly planning
Compare recurring monthly, annual, and one-time extra-principal assumptions against the same base loan. The bi-weekly planning option models 26 half-payments each year, equal to one additional monthly principal-and-interest payment annually. Confirm any lender payment-handling rules before enrolling.
Amortization, balance and monthly schedule
Review an estimated monthly amortization schedule, ending balance, principal paid, interest paid, extra principal, PMI, taxes, insurance, and HOA amounts. Charts have an accessible annual data-table alternative. CSV export and print options preserve the displayed assumptions.
Rural and land planning
Use acreage and a 20 to 35 percent editable planning down-payment range to organize a land-purchase conversation. These inputs are not lender requirements, recommendations, quotes, or approval criteria. Legal access, survey, title, utilities, improvements, taxes, insurance, appraisal, borrower profile, and program rules can change a real file.
PMI, refinance, affordability and points
The simplified PMI estimate shows planning milestones around 80 percent and 78 percent loan-to-value; servicing, investor, and program rules control actual mortgage-insurance coverage or cancellation. Refinance and points tools compare assumed principal-and-interest payments and costs; they do not predict savings, approval, eligibility, or future rates. The affordability tool uses an editable 43 percent debt-to-income planning default, not underwriting.
Compare loan scenarios
Compare up to three rate, term, and loan-amount scenarios side by side. A lower payment, rate, or term alone does not determine which loan is a better fit.
Calculator FAQs
Does this calculator provide a mortgage quote or approval?
No. It provides an educational estimate from the assumptions you enter. A real lending decision can depend on the property, appraisal, title, credit, income, assets, program guidelines, and current lender terms.
How are extra payments and bi-weekly payments modeled?
Extra-payment inputs are applied as estimated additional principal in the schedule. The bi-weekly option models 26 half-payments per year, equal to one additional principal-and-interest payment annually. Confirm lender and servicer rules before changing a real payment plan.
When will PMI end on my loan?
The calculator shows simplified planning milestones at 80 percent and 78 percent loan-to-value. Actual mortgage-insurance coverage or cancellation depends on your loan documents, servicing, investor, property-value, and program rules.
Can I rely on the refinance or points break-even result?
Use it only to compare the assumptions entered. The tools do not predict future rates, closing costs, approval, eligibility, loan terms, or guaranteed savings. Review the full costs and your expected time in the property with a qualified professional.
Important calculator disclosure
This calculator provides educational estimates only. It is not an offer, quote, approval, rate lock, Loan Estimate, commitment to lend, or guarantee of savings. Actual payments, costs, eligibility, mortgage insurance, taxes, insurance, lender terms, and closing costs may differ. First Source Capital Mortgage, Inc., Company NMLS #217672. Equal Housing Opportunity.