Mortgage Amount: 
Original or expected balance of your mortgage. 

Loan Term: 
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years. 

Interest Rate: 
Annual interest rate for this mortgage. 

Prepayment: 
The frequency of prepayment. Down payment is a one time payment that essentially reduces the amount of principal, monthly prepayments is the amount paid every month to reduce your principal loan.

Prepayment Amount: 
Prepaid amount on your mortgage.

Start with Payment: 
Payment number that your prepayments will start with. 

Monthly Payment: 
Sum of monthly principal and interest payment. 

Total Payments: 
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal. 

Total Interest: 
Total of all interest paid over the term of the mortgage. Total interest amount is calculated assuming that there were no prepayments or down payments. 

Prepayment Savings: 
Total amount of interest you will save by prepaying your mortgage. 

 

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