Mortgage interest paid calculator
Mortgage Interest Paid Calculator
Estimated mortgage interest paid by year
| Year | Estimated interest paid |
|---|---|
| 1 | $11,167 |
| 2 | $10,982 |
| 3 | $10,788 |
| 4 | $10,586 |
| 5 | $10,374 |
| 6 | $10,152 |
| 7 | $9,920 |
| 8 | $9,677 |
| 9 | $9,424 |
| 10 | $9,158 |
| 11 | $8,881 |
| 12 | $8,590 |
| 13 | $8,287 |
| 14 | $7,969 |
| 15 | $7,637 |
| 16 | $7,289 |
| 17 | $6,926 |
| 18 | $6,546 |
| 19 | $6,148 |
| 20 | $5,732 |
| 21 | $5,297 |
| 22 | $4,843 |
| 23 | $4,367 |
| 24 | $3,869 |
| 25 | $3,348 |
| 26 | $2,804 |
| 27 | $2,234 |
| 28 | $1,639 |
| 29 | $1,016 |
| 30 | $364 |
This calculator estimates the interest portion of scheduled payments in each loan year for a fixed-rate, fully amortizing mortgage. It is an amortization estimate—not a tax deduction calculator. The amount of interest paid and the amount you may deduct are not necessarily the same.
What the table shows
Interest is calculated each month from the remaining principal balance. Early in the loan, the balance is higher, so more of each scheduled payment goes to interest. As principal is repaid, annual interest normally declines. Extra payments, a midyear closing, payment timing, servicing adjustments and a refinance can make a lender's actual figures differ from this loan-year estimate.
Do not treat the result as a tax deduction
Federal deductibility can depend on whether you itemize, when and why the debt was incurred, how the proceeds were used, the property securing the loan, applicable debt limits and current law. State rules may differ. Use Form 1098 and your own records, then consult the current IRS instructions or a qualified tax professional.
For authoritative guidance, review IRS Publication 936, Home Mortgage Interest Deduction. The amortization equations and test cases are documented in our calculator methodology.
Frequently asked questions
What does this calculator estimate?
It estimates the interest portion of scheduled payments in each loan year for a fixed-rate, fully amortizing mortgage. It does not calculate a tax deduction, refund, or tax savings.
Is all estimated mortgage interest deductible?
Not necessarily. Deductibility depends on current law and facts such as whether you itemize, when and why the debt was incurred, how proceeds were used, the secured property, and applicable limits. Check IRS Publication 936 and consult a qualified tax professional.
Why is interest usually higher in the early years?
Monthly interest is charged on the outstanding balance. That balance is largest near the beginning, so more of the scheduled payment goes to interest and less to principal.
Why might my Form 1098 show a different amount?
The table groups a theoretical schedule by loan year. A midyear closing, payment dates, extra payments, servicing adjustments, refinances, or other account activity can make the lender's calendar-year figure different.
Does the calculator include points or mortgage insurance?
No. It estimates only scheduled note interest from the loan amount, fixed rate and term. Points and mortgage insurance have separate tax rules and are outside this calculation.
