Heritage Mortgage Title

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A simple calculator which calculates a fully amortized monthly payment based on principal, interest, and number of years.

Interest Only

Select this option to calculate Interest Only (I/O) mortgage payments. I/O loans have no scheduled principal reduction.


This calculator will give your loan balance at different intervals of your mortgage. It is quick and easy way to see what your loan balance will be if you have a balloon payment or convertible balloon mortgage option. You will also be able to view certain "what if" scenarios for convertible balloon mortgages based on various interest rates.


You will be able to calculate what your loan payment will be and also view an amortization schedule based on first payment year, mortgage amount, rate, and loan length. Amortization is repayment of loan by installment payments. As the payments are made, the debt is reduced so that at the end of fixed period or term, no money will be owed. You will also be able to view a quick snapshot of total interest paid over the life of the loan based on the payment schdule.


If you are interested in seeing how much extra you need to pay on a monthly basis to have your loan paid off sooner, this is the calculator to select. You will be able input the loan amount, interest rate, amortization length. Then enter the number of years you would like to pay, in order to have your loan paid in full. The payment and amount of the additional funds needed to prepay your loan in full will be calculated. You may view a quick summary or a full amortization schedule.