Repayment of a Fixed Rate Equity Loan Option (FRELO) requires that the borrower makes a monthly payment to the lender. That monthly payment includes both repayment of the loan principal and monthly interest on the outstanding balance. Loan payments are amortized so that the monthly payment remains the same throughout the repayment period, but during that time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases.
Calculate a Home Equity Loan Payment
Calculate a Home Equity Loan Payment
Loan Information
Loan Amount
$ 80,000
Monthly Payment
$ 809.96
Year | Interest Paid | Principal Paid | Ending Balance |
---|---|---|---|
0 | 0 | 0 | -80000.00 |
12 | 3079.14 | 6640.40 | -73359.60 |
24 | 2808.60 | 6910.94 | -66448.67 |
36 | 2527.03 | 7192.50 | -59256.17 |
48 | 2234.00 | 7485.53 | -51770.64 |
60 | 1929.03 | 7790.50 | -43980.13 |
72 | 1611.63 | 8107.90 | -35872.23 |
84 | 1281.30 | 8438.23 | -27434.00 |
96 | 937.52 | 8782.02 | -18651.99 |
108 | 579.72 | 9139.81 | -9512.18 |
120 | 207.35 | 9512.18 | -0.00 |
Month | Starting Balance ($) | Payment Made ($) | Interest Paid ($) | Principal Paid ($) | Ending Balance ($) |
---|---|---|---|---|---|
1 | 80000.00 | 809.96 | 266.67 | 543.29 | 79456.71 |
2 | 79456.71 | 809.96 | 264.86 | 545.11 | 78911.60 |
3 | 78911.60 | 809.96 | 263.04 | 546.92 | 78364.68 |
4 | 78364.68 | 809.96 | 261.22 | 548.75 | 77815.93 |
5 | 77815.93 | 809.96 | 259.39 | 550.57 | 77265.36 |
6 | 77265.36 | 809.96 | 257.55 | 552.41 | 76712.95 |
7 | 76712.95 | 809.96 | 255.71 | 554.25 | 76158.70 |
8 | 76158.70 | 809.96 | 253.86 | 556.10 | 75602.60 |
9 | 75602.60 | 809.96 | 252.01 | 557.95 | 75044.65 |
10 | 75044.65 | 809.96 | 250.15 | 559.81 | 74484.83 |
11 | 74484.83 | 809.96 | 248.28 | 561.68 | 73923.15 |
12 | 73923.15 | 809.96 | 246.41 | 563.55 | 73359.60 |
13 | 73359.60 | 809.96 | 244.53 | 565.43 | 72794.17 |
14 | 72794.17 | 809.96 | 242.65 | 567.31 | 72226.86 |
15 | 72226.86 | 809.96 | 240.76 | 569.20 | 71657.66 |
16 | 71657.66 | 809.96 | 238.86 | 571.10 | 71086.55 |
17 | 71086.55 | 809.96 | 236.96 | 573.01 | 70513.55 |
18 | 70513.55 | 809.96 | 235.05 | 574.92 | 69938.63 |
19 | 69938.63 | 809.96 | 233.13 | 576.83 | 69361.80 |
20 | 69361.80 | 809.96 | 231.21 | 578.76 | 68783.04 |
21 | 68783.04 | 809.96 | 229.28 | 580.68 | 68202.36 |
22 | 68202.36 | 809.96 | 227.34 | 582.62 | 67619.74 |
23 | 67619.74 | 809.96 | 225.40 | 584.56 | 67035.18 |
24 | 67035.18 | 809.96 | 223.45 | 586.51 | 66448.67 |
25 | 66448.67 | 809.96 | 221.50 | 588.47 | 65860.20 |
26 | 65860.20 | 809.96 | 219.53 | 590.43 | 65269.78 |
27 | 65269.78 | 809.96 | 217.57 | 592.40 | 64677.38 |
28 | 64677.38 | 809.96 | 215.59 | 594.37 | 64083.01 |
29 | 64083.01 | 809.96 | 213.61 | 596.35 | 63486.66 |
30 | 63486.66 | 809.96 | 211.62 | 598.34 | 62888.32 |
31 | 62888.32 | 809.96 | 209.63 | 600.33 | 62287.99 |
32 | 62287.99 | 809.96 | 207.63 | 602.33 | 61685.65 |
33 | 61685.65 | 809.96 | 205.62 | 604.34 | 61081.31 |
34 | 61081.31 | 809.96 | 203.60 | 606.36 | 60474.95 |
35 | 60474.95 | 809.96 | 201.58 | 608.38 | 59866.58 |
36 | 59866.58 | 809.96 | 199.56 | 610.41 | 59256.17 |
37 | 59256.17 | 809.96 | 197.52 | 612.44 | 58643.73 |
38 | 58643.73 | 809.96 | 195.48 | 614.48 | 58029.25 |
39 | 58029.25 | 809.96 | 193.43 | 616.53 | 57412.72 |
40 | 57412.72 | 809.96 | 191.38 | 618.59 | 56794.13 |
41 | 56794.13 | 809.96 | 189.31 | 620.65 | 56173.48 |
42 | 56173.48 | 809.96 | 187.24 | 622.72 | 55550.77 |
43 | 55550.77 | 809.96 | 185.17 | 624.79 | 54925.98 |
44 | 54925.98 | 809.96 | 183.09 | 626.87 | 54299.10 |
45 | 54299.10 | 809.96 | 181.00 | 628.96 | 53670.14 |
46 | 53670.14 | 809.96 | 178.90 | 631.06 | 53039.08 |
47 | 53039.08 | 809.96 | 176.80 | 633.16 | 52405.91 |
48 | 52405.91 | 809.96 | 174.69 | 635.27 | 51770.64 |
49 | 51770.64 | 809.96 | 172.57 | 637.39 | 51133.25 |
50 | 51133.25 | 809.96 | 170.44 | 639.52 | 50493.73 |
51 | 50493.73 | 809.96 | 168.31 | 641.65 | 49852.08 |
52 | 49852.08 | 809.96 | 166.17 | 643.79 | 49208.29 |
53 | 49208.29 | 809.96 | 164.03 | 645.93 | 48562.36 |
54 | 48562.36 | 809.96 | 161.87 | 648.09 | 47914.27 |
55 | 47914.27 | 809.96 | 159.71 | 650.25 | 47264.03 |
56 | 47264.03 | 809.96 | 157.55 | 652.41 | 46611.61 |
57 | 46611.61 | 809.96 | 155.37 | 654.59 | 45957.02 |
58 | 45957.02 | 809.96 | 153.19 | 656.77 | 45300.25 |
59 | 45300.25 | 809.96 | 151.00 | 658.96 | 44641.29 |
60 | 44641.29 | 809.96 | 148.80 | 661.16 | 43980.13 |
61 | 43980.13 | 809.96 | 146.60 | 663.36 | 43316.77 |
62 | 43316.77 | 809.96 | 144.39 | 665.57 | 42651.20 |
63 | 42651.20 | 809.96 | 142.17 | 667.79 | 41983.41 |
64 | 41983.41 | 809.96 | 139.94 | 670.02 | 41313.39 |
65 | 41313.39 | 809.96 | 137.71 | 672.25 | 40641.14 |
66 | 40641.14 | 809.96 | 135.47 | 674.49 | 39966.65 |
67 | 39966.65 | 809.96 | 133.22 | 676.74 | 39289.92 |
68 | 39289.92 | 809.96 | 130.97 | 678.99 | 38610.92 |
69 | 38610.92 | 809.96 | 128.70 | 681.26 | 37929.66 |
70 | 37929.66 | 809.96 | 126.43 | 683.53 | 37246.13 |
71 | 37246.13 | 809.96 | 124.15 | 685.81 | 36560.33 |
72 | 36560.33 | 809.96 | 121.87 | 688.09 | 35872.23 |
73 | 35872.23 | 809.96 | 119.57 | 690.39 | 35181.85 |
74 | 35181.85 | 809.96 | 117.27 | 692.69 | 34489.16 |
75 | 34489.16 | 809.96 | 114.96 | 695.00 | 33794.16 |
76 | 33794.16 | 809.96 | 112.65 | 697.31 | 33096.85 |
77 | 33096.85 | 809.96 | 110.32 | 699.64 | 32397.21 |
78 | 32397.21 | 809.96 | 107.99 | 701.97 | 31695.24 |
79 | 31695.24 | 809.96 | 105.65 | 704.31 | 30990.93 |
80 | 30990.93 | 809.96 | 103.30 | 706.66 | 30284.27 |
81 | 30284.27 | 809.96 | 100.95 | 709.01 | 29575.26 |
82 | 29575.26 | 809.96 | 98.58 | 711.38 | 28863.88 |
83 | 28863.88 | 809.96 | 96.21 | 713.75 | 28150.13 |
84 | 28150.13 | 809.96 | 93.83 | 716.13 | 27434.00 |
85 | 27434.00 | 809.96 | 91.45 | 718.51 | 26715.49 |
86 | 26715.49 | 809.96 | 89.05 | 720.91 | 25994.58 |
87 | 25994.58 | 809.96 | 86.65 | 723.31 | 25271.27 |
88 | 25271.27 | 809.96 | 84.24 | 725.72 | 24545.54 |
89 | 24545.54 | 809.96 | 81.82 | 728.14 | 23817.40 |
90 | 23817.40 | 809.96 | 79.39 | 730.57 | 23086.83 |
91 | 23086.83 | 809.96 | 76.96 | 733.01 | 22353.83 |
92 | 22353.83 | 809.96 | 74.51 | 735.45 | 21618.38 |
93 | 21618.38 | 809.96 | 72.06 | 737.90 | 20880.48 |
94 | 20880.48 | 809.96 | 69.60 | 740.36 | 20140.12 |
95 | 20140.12 | 809.96 | 67.13 | 742.83 | 19397.29 |
96 | 19397.29 | 809.96 | 64.66 | 745.30 | 18651.99 |
97 | 18651.99 | 809.96 | 62.17 | 747.79 | 17904.20 |
98 | 17904.20 | 809.96 | 59.68 | 750.28 | 17153.92 |
99 | 17153.92 | 809.96 | 57.18 | 752.78 | 16401.14 |
100 | 16401.14 | 809.96 | 54.67 | 755.29 | 15645.85 |
101 | 15645.85 | 809.96 | 52.15 | 757.81 | 14888.04 |
102 | 14888.04 | 809.96 | 49.63 | 760.33 | 14127.70 |
103 | 14127.70 | 809.96 | 47.09 | 762.87 | 13364.84 |
104 | 13364.84 | 809.96 | 44.55 | 765.41 | 12599.42 |
105 | 12599.42 | 809.96 | 42.00 | 767.96 | 11831.46 |
106 | 11831.46 | 809.96 | 39.44 | 770.52 | 11060.94 |
107 | 11060.94 | 809.96 | 36.87 | 773.09 | 10287.85 |
108 | 10287.85 | 809.96 | 34.29 | 775.67 | 9512.18 |
109 | 9512.18 | 809.96 | 31.71 | 778.25 | 8733.92 |
110 | 8733.92 | 809.96 | 29.11 | 780.85 | 7953.08 |
111 | 7953.08 | 809.96 | 26.51 | 783.45 | 7169.63 |
112 | 7169.63 | 809.96 | 23.90 | 786.06 | 6383.56 |
113 | 6383.56 | 809.96 | 21.28 | 788.68 | 5594.88 |
114 | 5594.88 | 809.96 | 18.65 | 791.31 | 4803.57 |
115 | 4803.57 | 809.96 | 16.01 | 793.95 | 4009.62 |
116 | 4009.62 | 809.96 | 13.37 | 796.60 | 3213.02 |
117 | 3213.02 | 809.96 | 10.71 | 799.25 | 2413.77 |
118 | 2413.77 | 809.96 | 8.05 | 801.92 | 1611.86 |
119 | 1611.86 | 809.96 | 5.37 | 804.59 | 807.27 |
120 | 807.27 | 809.96 | 2.69 | 807.27 | 0.00 |