Mortgage Calculator

Modify the values and click the Calculate button to use

Monthly Pay: $2,443.56

Payment	Monthly	Total
Mortgage Payment	$1,918.56	$690,681.60
Property Tax	$400.00	$144,000.00
Home Insurance	$125.00	$45,000.00
PMI	$0.00	$0.00
HOA	$0.00	$0.00
Other Costs	$0.00	$0.00
Total Out-of-Pocket	$2,443.56	$879,682.20

Monthly payment breakdown

Principal & Interest$1,918.5678.5%
Property Tax$400.0016.4%
Home Insurance$125.005.1%

House Price: $400,000.00
Loan Amount: $320,000.00
Down Payment: $80,000.00
Total of 360 Payments: $879,682.20
Total Interest: $370,682.20
Mortgage Payoff Date: Nov 2056

Amortization schedule

Year	Date	Interest	Principal	Ending balance
1	Nov 2027	$19,093.10	$3,929.64	$316,070.36
2	Nov 2028	$18,850.73	$4,172.01	$311,898.35
3	Nov 2029	$18,593.41	$4,429.33	$307,469.02
4	Nov 2030	$18,320.22	$4,702.52	$302,766.50
5	Nov 2031	$18,030.18	$4,992.56	$297,773.94
6	Nov 2032	$17,722.25	$5,300.49	$292,473.45
7	Nov 2033	$17,395.33	$5,627.41	$286,846.03
8	Nov 2034	$17,048.24	$5,974.50	$280,871.53
9	Nov 2035	$16,679.74	$6,343.00	$274,528.54
10	Nov 2036	$16,288.52	$6,734.22	$267,794.32
11	Nov 2037	$15,873.17	$7,149.57	$260,644.75
12	Nov 2038	$15,432.20	$7,590.54	$253,054.21
13	Nov 2039	$14,964.03	$8,058.71	$244,995.50
14	Nov 2040	$14,466.99	$8,555.75	$236,439.75
15	Nov 2041	$13,939.29	$9,083.45	$227,356.30
16	Nov 2042	$13,379.04	$9,643.70	$217,712.60
17	Nov 2043	$12,784.24	$10,238.50	$207,474.10
18	Nov 2044	$12,152.75	$10,869.99	$196,604.12
19	Nov 2045	$11,482.31	$11,540.43	$185,063.69
20	Nov 2046	$10,770.53	$12,252.21	$172,811.48
21	Nov 2047	$10,014.84	$13,007.90	$159,803.57
22	Nov 2048	$9,212.54	$13,810.20	$145,993.37
23	Nov 2049	$8,360.75	$14,661.99	$131,331.38
24	Nov 2050	$7,456.44	$15,566.30	$115,765.08
25	Nov 2051	$6,496.34	$16,526.40	$99,238.68
26	Nov 2052	$5,477.03	$17,545.71	$81,692.97
27	Nov 2053	$4,394.85	$18,627.89	$63,065.07
28	Nov 2054	$3,245.92	$19,776.82	$43,288.25
29	Nov 2055	$2,026.13	$20,996.61	$22,291.64
30	Nov 2056	$731.10	$22,291.64	$0.00

Balance, interest, and payments over time

Balance
Interest
Payments

How to use this mortgage calculator

Enter the home price and your down payment percentage.
Enter the loan term and annual interest rate.
Add annual property tax, home insurance, PMI, HOA fees, and any other monthly costs.
Choose the loan start month and calculate.
Review the monthly breakdown, total interest, total payments, and yearly amortization schedule.

What is included in a monthly mortgage payment?

Principal and interest: the part that repays the loan balance and the lender's interest.
Property tax: an annual local tax, divided by twelve for the monthly estimate.
Home insurance: the annual premium, divided by twelve.
PMI: private mortgage insurance, normally required when the down payment is below 20%.
HOA and other costs: recurring fees that are not part of the loan itself.

Mortgage payment formula

The principal and interest portion is calculated with the standard amortization formula:

M = P × r × (1 + r)^n / ((1 + r)^n − 1)

P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. For a zero-interest loan, the monthly principal and interest is simply P / n.

Frequently asked questions

Is this mortgage calculator accurate?

It provides an estimate based on the numbers you enter. Lender fees, closing costs, PMI cancellation rules, and local tax assessments can change the final amount.

What is PMI?

Private mortgage insurance protects the lender when the down payment is below 20%. This calculator includes PMI only when the down payment is below that threshold.

Does the result include taxes and insurance?

Yes, when you enter annual property tax and home insurance. Set either field to zero if you want to see principal and interest only.

Source

Reference: Consumer Financial Protection Bureau — Owning a Home.

Disclaimer

This calculator is for informational and planning purposes only. It is not a loan offer, financial advice, or a guarantee of financing terms. Confirm all figures with a qualified lender or financial professional.

Financial Calculators