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Pixie Mortgage Calculator

Enter your loan amount, interest rate, and term. See your monthly payment, total interest paid, and a full month-by-month amortization breakdown. Optional AI assistant explains your numbers and suggests strategies to lower the payment.

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How the Mortgage Calculator works

Three simple steps. No signup. No installation.

1

Enter loan details

Home price, down payment, interest rate, and loan term (15, 20, or 30 years).

2

See your monthly payment

Principal + interest calculated using the standard amortization formula. Optional property tax and insurance fields.

3

View the amortization schedule

Month-by-month breakdown showing how much of each payment goes to principal vs. interest.

How mortgage interest really works

A mortgage is a long-term amortizing loan where you pay the same fixed amount each month, but the proportion going to interest vs. principal shifts over time. In the first year of a 30-year mortgage at 7% interest, roughly 80% of every payment is interest and only 20% reduces your principal. By the final year, the ratio flips. This is why making extra principal payments early β€” even just one extra payment per year β€” can cut years off your mortgage and save tens of thousands in interest. Use this calculator to model "what if" scenarios: add an extra $100 per month, make biweekly payments instead of monthly, or refinance at a lower rate. The savings compound aggressively when applied early in the loan.

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