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Mortgage Calculator

Estimate the full monthly cost of a home loan — principal and interest plus property tax, homeowners insurance and HOA dues — and see how the loan pays down over time.

Home & loan
$
Entered as
%
Ongoing costs
$/ year
Typically 0.5–2.5% of the home’s value per year.
$/ year
$/ month

Results

Total monthly payment$2,547.62Principal, interest, tax, insurance and HOA
Loan amount$320,000.00
Total interest$408,142.36
Monthly payment breakdown
  • Principal & interest $2,022.62 79%
  • Property tax $400.00 16%
  • Home insurance $125.00 5%
  • HOA fees $0.00 0%
Down payment
$80,000.00 (20%)
Loan-to-value (LTV)
80%
Total of 360 payments (P&I)
$728,142.36
Total cost incl. down payment, tax & fees
$997,142.36
Amortization schedule (yearly)
YearPrincipalInterestBalance
1$3,576.72$20,694.69$316,423.28
2$3,816.26$20,455.15$312,607.02
3$4,071.84$20,199.57$308,535.17
4$4,344.54$19,926.87$304,190.63
5$4,635.50$19,635.91$299,555.13
6$4,945.95$19,325.46$294,609.18
7$5,277.19$18,994.22$289,331.98
8$5,630.62$18,640.80$283,701.37
9$6,007.71$18,263.70$277,693.66
10$6,410.06$17,861.36$271,283.60
11$6,839.35$17,432.06$264,444.26
12$7,297.39$16,974.02$257,146.86
13$7,786.11$16,485.30$249,360.75
14$8,307.56$15,963.85$241,053.19
15$8,863.94$15,407.48$232,189.25
16$9,457.57$14,813.84$222,731.68
17$10,090.96$14,180.45$212,640.72
18$10,766.77$13,504.64$201,873.95
19$11,487.84$12,783.57$190,386.11
20$12,257.20$12,014.21$178,128.90
21$13,078.09$11,193.32$165,050.81
22$13,953.96$10,317.46$151,096.86
23$14,888.48$9,382.93$136,208.38
24$15,885.59$8,385.83$120,322.79
25$16,949.47$7,321.94$103,373.32
26$18,084.61$6,186.80$85,288.71
27$19,295.77$4,975.64$65,992.94
28$20,588.05$3,683.37$45,404.89
29$21,966.86$2,304.55$23,438.03
30$23,438.03$833.39$0.00

How it works

  1. Enter the purchase price and your down payment (as a percentage or dollar amount).
  2. Enter the mortgage interest rate and choose the loan term.
  3. Add yearly property tax, yearly home insurance and any monthly HOA fees.
  4. Review the total monthly payment and how it breaks down.

Formula

P&I = L × r / (1 − (1 + r)^−n)
Monthly total = P&I + tax ÷ 12 + insurance ÷ 12 + HOA

L is the loan amount (price minus down payment), r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments (years × 12).

Example

A $350,000 home with 10% down on a 30-year fixed loan at 6.25%, with $3,850 property tax and $1,400 insurance per year and $75/month HOA dues.

Inputs

Home price
$350,000
Down payment
10
Entered as
% of price
Interest rate
6.25 %
Loan term
30 years
Property tax
$3,850 / year
Home insurance
$1,400 / year
HOA fees
$75 / month

Result

Total monthly payment$2,452.01Principal, interest, tax, insurance and HOA
Loan amount$315,000.00
Total interest$383,223.31
Load this example into the calculator →

What is included in a mortgage payment?

Lenders often describe the monthly payment as PITI: principal, interest, taxes and insurance. Principal and interest repay the loan itself, while property tax and insurance are frequently collected into an escrow account and paid on your behalf.

Homeowners association (HOA) dues are usually paid separately but are included here because they affect what you can afford each month.

Frequently asked questions

How much down payment do I need?

Many conventional loans accept 3–5% down, and some government-backed loans accept less. Putting 20% down typically avoids private mortgage insurance (PMI) and lowers your monthly payment.

Is PMI included in this calculator?

No. PMI depends on your lender, credit score and loan-to-value ratio. The calculator shows a reminder when your down payment is below 20%.

15-year or 30-year mortgage?

A 15-year mortgage has higher monthly payments but a lower rate and far less total interest. A 30-year mortgage keeps payments lower and more flexible. Compare both terms above.

How accurate is this estimate?

The principal and interest figure is exact for a fixed-rate loan. Taxes, insurance and HOA fees are your estimates and can change year to year.