What formula does it use?

Standard amortization: M = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is periodic rate, n is number of periods.

Does it handle extra payments?

Yes. Add a monthly extra payment and see how much time and interest you save compared to the baseline schedule.

Biweekly payments = 26 per year = 13 equivalent monthly payments. This shortens a 30-year loan by 4–6 years on average.

No. This is a principal + interest calculator. For full PITI, add property tax, insurance, and HOA manually.

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What formula does it use?: Standard amortization: M = P × r × (1+r)^n / ((1+r)^n − 1), where P is principal, r is periodic rate, n is number of periods.
Does it handle extra payments?: Yes. Add a monthly extra payment and see how much time and interest you save compared to the baseline schedule.
Biweekly vs monthly — why the difference?: Biweekly payments = 26 per year = 13 equivalent monthly payments. This shortens a 30-year loan by 4–6 years on average.
Does it include taxes and insurance?: No. This is a principal + interest calculator. For full PITI, add property tax, insurance, and HOA manually.