Finance...

Enter the interest portion of your mortgage payment, per year. For this entry, please be sure to multiply the monthly interest payment by 12, to get the annual payment. (This approach may be off slightly, as the interest portion of each payment changes slightly, but is a reasonable approximation.)

In the Divorce Calculator Edition, we ask separately about mortgage interest as opposed to mortgage principal. We do this because mortgage interest may be tax-deductible, while payments of mortgage principal are not. Click here for important planning tips about this deduction.

Each mortgage payment is part-interest and part-principal. In the early years of a mortgage, most of the payment is interest. In the last year, most of the payment is for principal.

You can sometimes find out the split by looking at your monthly mortgage statement. Or, you can call the mortgage company.

(In the Planner Tab of the program you enter the basic information about your mortgage and we calculate the interest/principal split each year.)

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Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More...