Simple Interest Mortgage Calculator Simple Interest Mortgage Loan Calculator is an personal finance estimation tool to calculate how much monthly interest is paid towards the principal. Loan amount, interest rate and total period to pay back are the key term to calculate the monthly regular payment, total repayment to pay-off mortgage and total interest cost on the principal.
Simple Interest Mortgage Loan is a loan for which the borrower pays part of an interest and part of the principal on the capital for a specified number of time period to pay off the principal and interest. The regular monthly payments remain same for each month. To get familiar with simple interest mortgage understanding how the principal and interest decreases over time by monthly repayments. Therefore, when it comes to online calculation, this simple interest mortgage calculator assists you to get know how your or in which ratio monthly payments are divided and goes towards to decrease principal and interest amount each month.