What is the Total Cost of a Loan?

As a mortgage holder, it is advisable to seek the lowest interest rates possible. I wanted to see how changing my payment would affect the life of the loan.

Loan Details

Payment Options

Monthly Payment Details


The chart, Life of the Loan compares 2 Scenarios: Paying the minimum amount, vs. Paying additional principal. The chart depicts the following in both scenarios.

  • Loan Balance
  • Total Principal Paid
  • Total Interest Paid

The chart, Payment Breakdown over Time breaks down the following aspects of a mortgage, over time.

  • Base Loan Payment vs Full-House Payment
  • Minimum Principal vs Extra Principal
  • Total Interest


Programmatic Schedule of Payments

Disclaimer: Don't bank on this.

Period Balance Payment Principal Total Principal Interest Total Interest

About Afomi

Afomi is the digital sandbox of Ryan Wold, who is always evolving this to better share inspirations and aspirations.

About Ryan

Ryan is a systems-thinking Product Developer and Designer who practices agile, test-driven, and lean continuous software delivery, while solving problems with people.

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