Mortgage calculator
Your full monthly housing payment for a fixed-rate loan: principal and interest, property tax, insurance, HOA dues and mortgage insurance, plus what the loan costs over its life.
This is an estimate, not a loan offer. It does not include closing costs, and it assumes a fixed rate for the whole term.
- Principal & interest$2,198.18
- Property tax$366.67
- Homeowners insurance$150.00
- Total per month$2,714.84
- Total interest over the loan$471,344
- Total of principal + interest$791,344
- Payoff (if you start this month)October 2056
| Year | Principal paid | Interest paid | Balance at year end |
|---|---|---|---|
| 1 | $3,055 | $23,323 | $316,945 |
| 2 | $3,287 | $23,092 | $313,658 |
| 3 | $3,535 | $22,843 | $310,123 |
| 4 | $3,803 | $22,575 | $306,320 |
| 5 | $4,091 | $22,287 | $302,229 |
| 6 | $4,401 | $21,977 | $297,828 |
| 7 | $4,734 | $21,644 | $293,094 |
| 8 | $5,092 | $21,286 | $288,002 |
| 9 | $5,478 | $20,900 | $282,524 |
| 10 | $5,892 | $20,486 | $276,632 |
| 11 | $6,339 | $20,040 | $270,293 |
| 12 | $6,818 | $19,560 | $263,475 |
| 13 | $7,335 | $19,044 | $256,140 |
| 14 | $7,890 | $18,488 | $248,250 |
| 15 | $8,487 | $17,891 | $239,763 |
| 16 | $9,130 | $17,248 | $230,633 |
| 17 | $9,821 | $16,557 | $220,812 |
| 18 | $10,564 | $15,814 | $210,248 |
| 19 | $11,364 | $15,014 | $198,884 |
| 20 | $12,225 | $14,154 | $186,659 |
| 21 | $13,150 | $13,228 | $173,509 |
| 22 | $14,146 | $12,233 | $159,363 |
| 23 | $15,217 | $11,162 | $144,147 |
| 24 | $16,369 | $10,010 | $127,778 |
| 25 | $17,608 | $8,770 | $110,170 |
| 26 | $18,941 | $7,437 | $91,230 |
| 27 | $20,375 | $6,003 | $70,855 |
| 28 | $21,917 | $4,461 | $48,938 |
| 29 | $23,576 | $2,802 | $25,361 |
| 30 | $25,361 | $1,017 | $0 |
How this is calculated
Principal and interest uses the standard amortization formula: payment = L × r ÷ (1 − (1 + r)−n), where L is the loan amount (price minus down payment), r is the annual rate ÷ 12 and n is the number of monthly payments.
Property tax and insurance are your annual figures divided by 12. HOA dues are added as entered.
PMI is charged only when the loan is more than 80% of the price, at the annual rate you enter times the original loan ÷ 12. Under federal rules, lenders must cancel it automatically when the scheduled balance reaches 78% of the original value; we show roughly when that happens on your schedule.
Total interest is the sum of the interest portion of every scheduled payment. Paying extra principal would reduce it.