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A loan is borrowed money that you agree to repay. A mortgage is a type of loan secured by real estate, often used to buy a home. Loans can also finance cars, education, or other expenses, and some do not require collateral. A mortgage calculator estimates payments from the loan amount, rate, and term.

Estimate mortgage payments

Net worth equals your total assets minus your total liabilities. Add the current value of cash, investments, retirement accounts, property, and other assets, then subtract mortgage balances, credit card balances, and other debts. For example, $300,000 in assets minus $180,000 in debts gives a net worth of $120,000. Include the full home value and the mortgage debt separately to avoid double-counting.

Calculate your net worth

Both methods keep minimum payments on every debt and direct extra money to one balance. Debt avalanche targets the highest interest rate first and generally reduces interest costs. Debt snowball targets the smallest balance first, creating earlier paid-off accounts that may help motivation. After paying off a debt, roll its payment into the next one. Compare both using the same monthly budget.

Compare avalanche and snowball payoff plans

Mortgage amortization is the gradual repayment of a home loan through scheduled payments of principal and interest. With a standard fixed-rate, fully amortizing loan, the principal-and-interest payment stays level while the split changes: earlier payments contain more interest, and later payments repay more principal. Property taxes and insurance are separate costs and can change.

View a mortgage amortization schedule

Compare the cost of keeping your current loan with the proposed loan over the time you expect to keep it. Include closing costs, payments, and both remaining loan balances. A lower payment alone does not establish savings, because a longer term can leave more debt. The PFC refinance calculator compares these costs at your chosen horizon; it excludes taxes, mortgage insurance, and investment opportunity cost.

Compare refinance costs and savings

Compound interest means earning interest on your deposits and on interest already added to the account. For example, $1,000 earning a constant 5% APY becomes $1,102.50 after two years with no deposits or withdrawals, before taxes or fees. Regular deposits can increase the balance further. Actual rates can change; the savings calculator uses the constant APY you enter.

Estimate savings growth

Yes. All 18 PFC calculators are free, with no account or sign-up required. Change the inputs, compare scenarios, and download calculation breakdowns as CSV files. Results are planning estimates based on the displayed assumptions. Review each tool’s scope, and use the labeled tax year when working with tax or retirement contribution rules.

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