Compare Fixed Payments and Equal Principal

Two repayment patterns

A fixed-payment plan keeps principal plus interest approximately level each month under a fixed rate. Equal-principal repayment starts higher because the same amount of principal is retired every month.

Try the same principal, 5% annual rate, and 36-month term under both methods. Compare the first payment, final payment, and total interest to see the tradeoff between initial affordability and total cost.

Compare first-payment affordability and total interest, not only the advertised annual rate.

Costs outside this calculator

The tool estimates principal and interest using monthly periods. Fees, mortgage insurance, property tax, rate changes, and exact lender rounding are not included.

Enter principal in dollars on the U.S. page. Your lender’s repayment schedule is the final reference.