FNB Home Finance Calculator

Introduction

Securing a mortgage is one of the largest financial decisions most homeowners make. Understanding your monthly payment, total interest, and the impact of extra payments can save you thousands over the life of a loan. Our FNB Home Finance Calculator incorporates loan amount, rate, term, and optional extra payments to give you clear, actionable data—right on your phone or desktop—without affecting your site’s theme.

How to Use

1. Enter the total Loan Amount you require.
2. Input the Annual Interest Rate offered by your lender.
3. Select the Loan Term in years (15 or 30).
4. Optionally add an Extra Monthly Payment to see how much time and interest you save.
5. Click Calculate to view your monthly payment, total interest, and payoff time.

Calculation Method

We use the standard amortization formula for mortgage payments:

Monthly = [r × P] / [1 − (1 + r)−n]
    

Where P = loan amount, r = monthly rate (annual ÷ 12), n = total payments (years × 12). Extra payments reduce principal early, lowering interest and term.

FAQs

1. What if I pay extra each month?

Any additional payment directly reduces principal, cutting interest and shortening your loan. Our calculator shows the new payoff date and interest savings.

2. Can I use this for adjustable-rate mortgages?

This tool assumes a fixed rate. For ARMs, recalculate when your rate resets or use a custom schedule.

3. Does this include taxes and insurance?

No. For full PITI estimates, add property taxes, homeowners insurance, and PMI separately. See CFPB guidelines.

4. How often should I recalculate?

Recalculate whenever your rate, term, or extra payment plan changes—common before refinancing or making large lump-sum payments.

5. Are there prepayment penalties?

Check your loan documents. Many modern mortgages waive prepayment penalties; verify with your lender.

6. Explore more tools

Discover additional calculators at Explore more tools.

7. Disclaimer

This calculator provides estimates for planning only. Actual payments depend on lender terms, taxes, and insurance. Consult a mortgage professional before finalizing any loan.