◆ CALCULATOR
Mortgage
Estimate your full monthly payment and the true lifetime cost of a home loan.
Try an example
Monthly Payment (PITI)
$2,573
P&I
$2,023
Taxes
$400
Insurance
$150
Total Interest
$408,142
| x | Balance (30-yr) |
|---|---|
| Yr 1 | $316,423 |
| Yr 2 | $312,607 |
| Yr 3 | $308,535 |
| Yr 4 | $304,191 |
| Yr 5 | $299,555 |
| Yr 6 | $294,609 |
| Yr 7 | $289,332 |
| Yr 8 | $283,701 |
| Yr 9 | $277,694 |
| Yr 10 | $271,284 |
| Yr 11 | $264,444 |
| Yr 12 | $257,147 |
| Yr 13 | $249,361 |
| Yr 14 | $241,053 |
| Yr 15 | $232,189 |
| Yr 16 | $222,732 |
| Yr 17 | $212,641 |
| Yr 18 | $201,874 |
| Yr 19 | $190,386 |
| Yr 20 | $178,129 |
| Yr 21 | $165,051 |
| Yr 22 | $151,097 |
| Yr 23 | $136,208 |
| Yr 24 | $120,323 |
| Yr 25 | $103,373 |
| Yr 26 | $85,289 |
| Yr 27 | $65,993 |
| Yr 28 | $45,405 |
| Yr 29 | $23,438 |
| Yr 30 | $0 |
Show amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $20,695 | $3,577 | $316,423 |
| 2 | $20,455 | $3,816 | $312,607 |
| 3 | $20,200 | $4,072 | $308,535 |
| 4 | $19,927 | $4,345 | $304,191 |
| 5 | $19,636 | $4,636 | $299,555 |
| 6 | $19,325 | $4,946 | $294,609 |
| 7 | $18,994 | $5,277 | $289,332 |
| 8 | $18,641 | $5,631 | $283,701 |
| 9 | $18,264 | $6,008 | $277,694 |
| 10 | $17,861 | $6,410 | $271,284 |
| 11 | $17,432 | $6,839 | $264,444 |
| 12 | $16,974 | $7,297 | $257,147 |
| 13 | $16,485 | $7,786 | $249,361 |
| 14 | $15,964 | $8,308 | $241,053 |
| 15 | $15,407 | $8,864 | $232,189 |
| 16 | $14,814 | $9,458 | $222,732 |
| 17 | $14,180 | $10,091 | $212,641 |
| 18 | $13,505 | $10,767 | $201,874 |
| 19 | $12,784 | $11,488 | $190,386 |
| 20 | $12,014 | $12,257 | $178,129 |
| 21 | $11,193 | $13,078 | $165,051 |
| 22 | $10,317 | $13,954 | $151,097 |
| 23 | $9,383 | $14,888 | $136,208 |
| 24 | $8,386 | $15,886 | $120,323 |
| 25 | $7,322 | $16,949 | $103,373 |
| 26 | $6,187 | $18,085 | $85,289 |
| 27 | $4,976 | $19,296 | $65,993 |
| 28 | $3,683 | $20,588 | $45,405 |
| 29 | $2,305 | $21,967 | $23,438 |
| 30 | $833 | $23,438 | $0 |
How to use this calculator
- Enter the home price and down payment20% down avoids PMI; the percentage updates as you type.
- Enter the rate and termCompare a 15- vs. 30-year term to see the interest tradeoff.
- Read the monthly P&I and total interestRemember property tax, insurance, and HOA are on top of this number.
For most people a mortgage is the largest loan they will ever take, and small differences in the rate or term turn into tens of thousands of dollars. The payment a lender quotes is only the visible part of the cost.
◆ Frequently Asked Questions
Does this payment include taxes and insurance?
No. The result is principal and interest only. Property tax, homeowners insurance, any private mortgage insurance, and HOA dues sit on top of this number, and together they can add hundreds of dollars a month.
How much do I need for a down payment?
Twenty percent down lets you avoid private mortgage insurance, but many loans allow far less. The calculator shows your down payment as a percentage as you type, so you can see where you cross that line.
Is a 15-year or 30-year mortgage better?
A 15-year loan has a higher monthly payment but far less total interest, and it builds equity faster. A 30-year loan is easier on the monthly budget. Compare both terms to see the tradeoff in dollars.
What is PMI and when do I pay it?
Private mortgage insurance protects the lender when you put down less than 20%. It is added to your monthly payment and usually drops off once you reach about 20% equity in the home.
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