Mortgage Calculator
Free mortgage calculator. Estimate your monthly home-loan payment including principal, interest, taxes, insurance and PMI, with a full amortization schedule.
Loan Details
Monthly Payment
$2,397.62
Monthly Breakdown
Loan Totals
Amortization Schedule (Yearly)
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
How It Works
Enter the home price & down payment
Type the purchase price and how much you are putting down, as an amount or a percentage.
Set the loan terms
Choose the loan term in years and the annual interest rate. Add taxes, insurance, HOA and PMI for an all-in payment.
Review your payment
See the full monthly payment breakdown, total interest paid and a year-by-year amortization schedule.
A mortgage is a loan used to buy a home, repaid in equal monthly installments over a fixed term — most commonly 15 or 30 years. Each payment covers the interest charged on the outstanding balance plus a portion of the principal, so the balance steadily falls until the loan is fully repaid.
This calculator estimates the full "PITI" payment — Principal, Interest, Taxes and Insurance — and optionally HOA dues and PMI, so you can see the true monthly cost of owning a home rather than just the principal and interest. Use it to compare loan terms, test different down payments, and understand how much of your money goes to interest over time.
Frequently Asked Questions
How is my monthly mortgage payment calculated?
The principal and interest portion uses the standard amortization formula M = P · r · (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Property tax, home insurance, HOA dues and PMI are added on top to give the total monthly payment.
What is PMI and when do I pay it?
Private Mortgage Insurance (PMI) is usually required when your down payment is less than 20% of the home price. This calculator adds an estimated PMI premium to your monthly payment whenever the down payment is below 20%.
What does an amortization schedule show?
An amortization schedule breaks down each payment into the part that goes toward interest and the part that pays down the principal balance. Early payments are mostly interest; over time more goes to principal until the loan is paid off.
Does a larger down payment reduce my payment?
Yes. A larger down payment lowers the loan amount, which reduces both the monthly principal-and-interest payment and the total interest you pay over the life of the loan. Reaching 20% down also removes PMI.
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