Estimate your full monthly mortgage payment — principal, interest, property taxes, homeowners insurance, PMI, and HOA dues — not just the loan payment lenders often quote first.
Mortgage estimate
Enter your home loan details
Region
Neutral labels and manual inputs. Set taxes, insurance, and fees to match your location. All figures are editable.
US: includes property tax, homeowners insurance, PMI (typically required under 20% down), HOA, and closing costs. Confirm every figure with your lender's Loan Estimate.
India: budget for stamp duty + registration, processing fee, technical valuation, and legal fees — amounts vary by state, city, bank, and property type. Most home loans are floating-rate; use the rate-shock simulator for rate-change impact.
UK: budget for Stamp Duty Land Tax (SDLT), conveyancing/solicitor fees, survey, and mortgage arrangement fee. Council tax is a separate ongoing cost. This tool does not calculate official SDLT — enter your own figure.
Canada: mortgage default insurance (e.g. CMHC) applies under 20% down. Budget for land transfer tax, legal/notary fees, and home inspection. Amounts vary by province and property price.
Australia: Lenders Mortgage Insurance (LMI) applies under 20% deposit. Budget for stamp duty (varies by state and property value), conveyancing, and building/pest inspection. Offset accounts and extra repayments are common.
Assumption presetPresets fill in illustrative starting values for taxes, insurance, and HOA. They do not use live local tax, insurance, lender, or government data. All fields remain editable — replace them with your lender's or advisor's actual figures.
Editable starting assumptions — not live government or lender data.
Home & loan$400,000 home · 20.0% down · 6.75% · 30 yrEdit
Drag a slider or type an exact value — the payment and every chart update instantly.
Add recurring ownership costs so the monthly estimate is closer to a real housing budget.
%
$4,800 per year at this home price.
$
Estimated annual premium.
Mortgage insuranceMortgage insurance is usually required when the down payment is below 20% (or lender threshold). It protects the lender, not the borrower. Rules and names vary by country.
%
PMI currently estimates to $0 for this scenario.
$
Optional recurring charge. Does not reduce loan balance.
Estimate how property taxes, home insurance, HOA fees, and other ownership costs may change over time. These rates feed the lifetime ownership cost estimate and the year-10 monthly cost shown further down the page.
Taxes, insurance, HOA fees, and other ownership costs can change over time. These increase rates are user-entered assumptions, not predictions.
%
Applied each year to property tax.
%
Applied each year to home insurance.
%
Applied each year to HOA / service charges.
%
Applied each year to the other monthly cost.
$
Optional recurring ownership cost (e.g. service charge or utilities).
Extra paymentsNone added — optionalEdit
Model extra principal payments only when you want to compare payoff speed and total interest saved.
$
Optional principal payment used for accelerated payoff.
$
Optional lump sum applied once.
Used only when a one-time payment is entered.
Half the principal & interest every two weeks is about one extra payment a year. Biweekly processing varies by lender; some may hold partial payments until a full monthly payment is due. This is a simplified estimate.
Additional one-time principal payments
Each one-time payment is applied to principal in the selected month. Confirm with your lender how to make principal-only payments.
Results update automatically as inputs change.
Save & share
“Copy link” shares a URL with your current inputs. Snapshots save to this browser only, never sent to a server. A copy-summary button is in the result panel.
More optionsHome appreciation · closing costs · discount pointsEdit
Optional extras for a fuller picture — none are required for the payment estimate.
Taxes, insurance, PMI, HOA, appreciation, and escalation rates are estimates. The calculator treats them as user-provided assumptions and does not determine loan approval.
Formula-backed estimateMonthly amortization engineTaxes & insurance includedChecked vs CFPB & Freddie MacUpdated 8 August 2026Educational estimate — not a lender quote
Your home loan snapshot
Home Price
$400,000
Down Payment
$80,000 (20.0%)
Loan Amount
$320,000
Interest Rate
6.75%
Loan Term
30 years
Monthly Payment
$2,601
Total Interest
$427,188
Total of P&I
$747,188
Total Housing Cost
$936,188
Payoff Date
Jul 2056
Loan-to-Value Ratio
80.0%
What your result means
Your estimated principal and interest payment is $2,076 per month, or about $2,601 once taxes, insurance, PMI, and HOA are included. Over the 30-year term you may pay roughly $427,188 in interest — about 133% of the $320,000 borrowed. Because mortgages amortize, early payments are mostly interest and the principal portion grows over time.
Compare scenarios before relying on the starting estimate
This estimate uses the standard amortization formula with your taxes, insurance, PMI, and HOA assumptions. Use the comparison below to see how a different rate, down payment, term, or extra payment would change the monthly cost and total interest.
Costs beyond the mortgage payment
The monthly payment is only part of owning a home. These costs are commonly reviewed when estimating total ownership cost. Official lender estimates, insurance quotes, local taxes, and HOA documents may differ from these assumptions.
Property tax & insurance
These recur for as long as you own the home and tend to rise over time, even after the loan is paid off.
Maintenance & repairs
Some planning frameworks include a maintenance reserve (often cited around 1% of home value per year), but actual repairs vary by property age, location, and condition.
Closing costs & transfer taxes
Closing costs, and in many regions stamp duty or transfer tax, are commonly reviewed on top of the down payment at purchase.
Emergency fund
Many planning frameworks include a cash reserve for unexpected costs.
Other debts & income stability
Income stability and recurring obligations can affect how a household reviews a long-term payment estimate.
Rate changes on adjustable loans
If the loan is adjustable or floating, the payment can rise when rates reset. Compare higher-rate scenarios before relying on the starting estimate.
Planning checks to review
Use these neutral checks when reviewing the estimate. Official lender documents may differ.
Consider whether the estimated payment leaves room for other recurring costs.
Review whether property taxes and home insurance are included — not just principal and interest.
At 20%+ down, many loans skip PMI. Confirm the rule with your lender.
Review closing costs and cash reserves alongside the down payment.
Compare the estimated lifetime interest (about $427,188) with your budget, alternatives, and official lender estimates.
Lifetime ownership cost estimate
An estimate of total money out of pocket across the loan, including the down payment, principal, interest, and ownership costs. Taxes, insurance, HOA, and other costs are estimates and can change.
Estimated total out-of-pocket
$1,016,188
First-year monthly cost
$2,601
Year-10 monthly cost
$2,601
Total principal
$320,000
Total interest
$427,188
Property tax
$144,000
Home insurance
$45,000
Down payment
$80,000
Estimate only, not a lender quote. Local taxes, insurance premiums, HOA rules, and PMI rules can differ.
Monthly mortgage payment breakdown
Payment composition, principal versus interest over time, remaining balance, lifetime out-of-pocket, and ownership-cost escalation. Each chart is the primary view; a data table sits beneath it for screen readers and exact figures.
Monthly Payment Breakdown
See which pieces make up the full housing payment.
Principal & Interest80%
Property Tax15%
Insurance5%
Principal and interest are $2,076 of the $2,601 monthly estimate.
Show data table
Principal vs. Interest Over Time
Early mortgage payments are usually more interest-heavy.
Estimated total interest is $427,188 over 30 years.
Representative years
Principal vs. Interest Over Time — sample
Year
Principal
Interest
2026
$1,393
$8,984
2030
$4,292
$20,614
2034
$5,618
$19,288
2037
$6,876
$18,031
2041
$9,000
$15,906
2045
$11,781
$13,125
2049
$15,421
$9,486
2052
$18,871
$6,035
2056
$14,211
$322
Show full data table
Remaining Loan Balance
Track how quickly the principal balance declines.
The ending balance reaches $0 by Jul 2056.
Representative years
Remaining Loan Balance — sample
Year
Balance
2026
$318,607
2030
$303,043
2034
$282,670
2037
$263,357
2041
$230,723
2045
$188,005
2049
$132,089
2052
$79,081
2056
$0
Show full data table
Lifetime out-of-pocket breakdown
Where total money paid goes across the loan, including the down payment, ownership costs, and closing.
Estimated total out-of-pocket is about $1,016,188.
Show data table
Ownership cost escalation
Estimated annual ownership cost, held flat. Add an annual increase rate in Advanced options to compare static vs escalated costs.
No annual increase entered, so this is a single flat line. Set an increase rate under “Advanced ownership cost increases” to see the escalated path.
Representative years
Ownership cost escalation — sample
Year
Annual ownership cost
1
$6,300
5
$6,300
8
$6,300
12
$6,300
16
$6,300
19
$6,300
23
$6,300
26
$6,300
30
$6,300
Show full data table
Mortgage scenario comparison
The same home under different choices. Each row changes one thing versus your base case so you can weigh the trade-off in monthly payment, total interest, payoff time, and cash needed upfront.
Shorter term6.75% · 15 yrLowest total interestFastest payoffLowest lifetime cost
$3,357
+$756
$189,708
−$237,480
15 years
$684,208
—
Extra payment+$200/mo
$2,801
+$200
$315,109
−$112,079
23 years and 4 months
$862,109
—
Biweekly estimate+$173/mo equiv
$2,773
+$173
$326,239
−$100,949
24 years
$877,439
—
One-time payments$10,000 to principal
$2,601
—
$380,394
−$46,794
27 years and 9 months
$955,219
—
Escalated coststaxes/insurance/HOA +3%/yr
$2,601
—
$427,188
—
30 years
$1,126,913
—
Lower rate reduces total interest with little change to cash upfront.
Larger down payment lowers the loan amount and may reduce or remove PMI, but needs more cash at closing.
Shorter term usually raises the monthly payment while cutting lifetime interest.
Extra, biweekly-equivalent, and one-time payments applied to principal can shorten the payoff and reduce interest.
Escalated costs hold the loan fixed but let taxes, insurance, and HOA rise — so lifetime out-of-pocket grows even though the payoff is unchanged.
Lifetime cost is cash at closing plus every payment over the life of the loan, under these assumptions.
“Best for” badges identify which scenario leads on a single metric (monthly payment, total interest, payoff speed, upfront cash, or lifetime cost) — not an overall recommendation. “vs base” shows the change against your base case. The extra-payment row uses $200 per month; the larger-down-payment row adds $20,000 upfront. Escalated-costs row is a stress test, not an optimization, and does not receive badges.
Download your mortgage model
Save your inputs, monthly payment breakdown, full monthly amortization schedule, yearly summary, scenario comparison, formulas, assumptions, and disclaimer in Excel or CSV. Final payments are adjusted so the ending balance reaches zero instead of going negative.
In the early years, most of each payment goes toward interest because the balance is large. Over time the split flips and more goes toward principal — which is why earlier principal reductions can have a larger effect under long-term amortization assumptions.
Year 1Mostly interest
Middle yearsPrincipal share grows
Final yearsMostly principal
Mortgage amortization schedule
The yearly summary is shown by default. Select View full monthly schedule to open the full payment-by-payment schedule with interest, principal, extra payments, ownership costs, and ending balance.
Yearly mortgage amortization summary
Year
Total payments
Principal paid
Interest paid
Extra payments
Ending balance
2026
$10,377.55
$1,393.14
$8,984.41
$0.00
$318,606.86
2027
$24,906.12
$3,507.34
$21,398.78
$0.00
$315,099.52
2028
$24,906.12
$3,751.56
$21,154.56
$0.00
$311,347.96
2029
$24,906.12
$4,012.76
$20,893.36
$0.00
$307,335.20
2030
$24,906.12
$4,292.17
$20,613.95
$0.00
$303,043.03
2031
$24,906.12
$4,591.04
$20,315.08
$0.00
$298,451.99
2032
$24,906.12
$4,910.70
$19,995.42
$0.00
$293,541.29
2033
$24,906.12
$5,252.61
$19,653.51
$0.00
$288,288.68
2034
$24,906.12
$5,618.35
$19,287.77
$0.00
$282,670.33
2035
$24,906.12
$6,009.55
$18,896.57
$0.00
$276,660.78
2036
$24,906.12
$6,427.96
$18,478.16
$0.00
$270,232.82
2037
$24,906.12
$6,875.52
$18,030.60
$0.00
$263,357.30
2038
$24,906.12
$7,354.27
$17,551.85
$0.00
$256,003.03
2039
$24,906.12
$7,866.32
$17,039.80
$0.00
$248,136.71
2040
$24,906.12
$8,414.03
$16,492.09
$0.00
$239,722.68
2041
$24,906.12
$8,999.90
$15,906.22
$0.00
$230,722.78
2042
$24,906.12
$9,626.52
$15,279.60
$0.00
$221,096.26
2043
$24,906.12
$10,296.82
$14,609.30
$0.00
$210,799.44
2044
$24,906.12
$11,013.74
$13,892.38
$0.00
$199,785.70
2045
$24,906.12
$11,780.64
$13,125.48
$0.00
$188,005.06
2046
$24,906.12
$12,600.89
$12,305.23
$0.00
$175,404.17
2047
$24,906.12
$13,478.26
$11,427.86
$0.00
$161,925.91
2048
$24,906.12
$14,416.71
$10,489.41
$0.00
$147,509.20
2049
$24,906.12
$15,420.54
$9,485.58
$0.00
$132,088.66
2050
$24,906.12
$16,494.22
$8,411.90
$0.00
$115,594.44
2051
$24,906.12
$17,642.68
$7,263.44
$0.00
$97,951.76
2052
$24,906.12
$18,871.09
$6,035.03
$0.00
$79,080.67
2053
$24,906.12
$20,185.05
$4,721.07
$0.00
$58,895.62
2054
$24,906.12
$21,590.49
$3,315.63
$0.00
$37,305.13
2055
$24,906.12
$23,093.81
$1,812.31
$0.00
$14,211.32
2056
$14,532.94
$14,211.32
$321.62
$0.00
$0.00
Your mortgage timeline
The long-term journey of this loan, from the first payment to full ownership.
Loan startsAug 2026
First paymentAug 2026
PMI / mortgage insuranceNot expected at 20%+ downRules vary by lender and loan type.
Half of principal paidFeb 2048
Mortgage payoffJul 2056
PMI end timing is an estimate based on reaching 20% equity from scheduled payments; actual rules vary by lender, loan type, and country.
Mortgage extra payments and accelerated payoff
Extra payments reduce principal faster, which can lower future interest and shorten the payoff timeline.
$112,079 saved (example)
$
Applied to principal after the scheduled payment.
$
Applied once every 12 months from the start month.
$
Applied in the selected month only.
Monthly and yearly extras begin here.
Standard plan
Monthly payment
$2,601
Payoff date
Jul 2056
Total interest
$427,188
Total housing cost
$936,188
With extra payments
Example shown: +$200/month
Monthly + extra
$2,801
Payoff date
Nov 2049
Total interest
$315,109
Total housing cost
$782,109
Interest saved
$112,079
Time saved
6 years and 8 months
Example shown: an extra $200 per month would pay this loan off about 6 years and 8 months sooner and save roughly $112,079 in interest. Enter your own monthly, yearly, or one-time amount above to personalize it.
Mortgage decision receipt
A one-glance read of this mortgage based on the numbers entered. Educational estimate, not a lender quote or advice.
Payment-to-income
Within threshold
Cash to buy
Covers estimate
Debt-to-income
Within threshold
PMI / mortgage ins.
Avoided (20%+ down)
Interest burden
High
Down payment
Strong
Main thing to watch: total interest cost.
This is an educational estimate based on the inputs shown. It is not mortgage approval, financial advice, or lender guidance. Lenders use their own underwriting, credit checks, property data, and loan programs.
This calculator plans a home purchase. If you already have a mortgage and want to compare it with a refinance offer — monthly saving, break-even, cash-out, and lifetime-interest impact — use the dedicated tool.
Total monthly payment$2,601$2,076 P&I · $80,000 cash to buyView full results
Planning estimate based on your inputs. Use the Region selector to switch local terms and assumptions. Confirm taxes, insurance, fees, rates, and loan terms with your lender or local authority before any decision.
What this tool covers
Enter your home price, down payment, interest rate, and loan term, and the payment recalculates instantly in your browser. Compare rate, term, and down-payment scenarios, see how extra payments shorten your payoff date, and download a workbook you can check by hand.
Set the purchase, loan, tax, insurance, PMI, HOA, and extra-payment assumptions. Your results update instantly as you change any input.
Principal, interest, taxes, insurance, PMI and HOA
Extra-payment savings and amortization schedule
Scenario comparison across rate, term and down payment
Downloadable Excel workbook and CSV
Full payment Taxes & insurance Extra payments Amortization Excel model
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], plus taxes, insurance, PMI and HOA for the full PITI payment.
Scenario support
Nine-scenario comparison across rate, term, down payment, and extra payments, with amortization and payoff date.
Workbook export
Excel (XLSX) workbook and CSV export
Educational estimate
Planning support from the values you enter — not professional advice.
The $2,076 loan payment and the $2,601 that leaves your account
Your result splits into two layers: the loan payment itself (principal and interest, driven by your rate, term, and loan amount) and the recurring costs of owning the home (property tax, homeowners insurance, PMI, and HOA, where they apply). Add them together and you get the full monthly housing estimate — the number that needs to fit your budget, not just the loan payment a lender quotes first. The lifetime figures below the monthly numbers show total interest paid over the full term and the projected payoff date, both of which shift immediately when you change the rate, term, down payment, or add extra payments. Use the amortizationPaying off a loan through regular payments that gradually shift from mostly interest to mostly principal. schedule to see the principal-to-interest split move month by month, and the scenario comparison to test decisions side by side before you commit to one.
A $400,000 home with 20% down ($80,000), a $320,000 loan, a 6.75% fixed rate, and a 30-year term produces principal and interest of about $2,076 a month. Add estimated property tax of $400/month (1.2% annually) and homeowners insurance of $125/month, and the full monthly housing payment comes to roughly $2,601 before any HOA dues. Over the full 30-year term, this loan accrues about $427,188 in total interest — more than the original loan amount. Because the down payment is 20%, PMI does not apply here; a smaller down payment would add a mortgage-insurance line until the loan-to-value ratio falls below 80%. Change any input — rate, term, or down payment — and every one of these figures updates immediately.
Loan amount
$320,000
Principal and interest
$2,076 per month
Property tax
$400 per month
Homeowners insurance
$125 per month
Estimated monthly cost
$2,601 before HOA
Total interest
$427,188 over 30 years
That $525 gap is the point: this estimates the whole monthly cost of a home loan — principal and interest, plus taxes, insurance, PMI, and HOA where they apply — from the price, down payment, rate, and term you enter. It projects total interest and the payoff date too, so you can compare scenarios before talking with a lender.
Home Price→
Down Payment→
Loan Principal→
Interest + Term→
Monthly Payment
Principal and interest is one line of five
The core formula computes the level monthly principal-and-interest payment that fully repays the loan over its term. Add recurring ownership costs — property tax, insurance, PMI, and HOA — to get the full monthly housing payment: the number that actually leaves your account each month.
Monthly principal & interest
M = P × [ r(1+r)ⁿ ] / [ (1+r)ⁿ − 1 ]
The level payment that repays the loan over its term. At 0% interest it simplifies to M = P / n.
Total monthly housing payment
P&I + tax + insurance + PMI + HOA
The full cost of owning, not just the loan payment — the number that actually needs to fit your budget.
Variable glossary
P — loan amount (home price − down payment)
r — monthly interest rate (annual ÷ 12 ÷ 100)
n — number of payments (term in years × 12)
M — monthly principal & interest payment
Written out, that first line is the standard amortizing-loan 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. It produces a level payment that fully repays the loan by the end of its term. The other four lines never amortize: taxes, insurance, PMI, and HOA are recurring charges on their own schedules, entered separately rather than folded into P.
Six assumptions sit behind every figure above:
Loan amount is calculated from home price minus down payment.
Principal and interest use the standard fixed-rate amortizing loan formula.
Annual property tax and homeowners insurance assumptions are converted to monthly costs.
PMI is estimated when down payment assumptions imply a loan-to-value ratio above 80%.
Extra payments are modeled as additional principal payments that can shorten payoff time and reduce interest.
Closing costs, points, income, and existing debt are optional planning inputs and do not represent underwriting or approval.
PMI starts below 20% down and ends at 78% loan-to-value
Private mortgage insurance is usually required when your down payment is under 20% (loan-to-value above 80%). It protects the lender, not you. You can typically request cancellation once the balance reaches 80% of the original value, and it often falls off automatically at 78%. Extra principal payments or rising home value get you there sooner. The calculator applies it automatically below 20% down — which is why the first-time-buyer preset above charges PMI on a $400,000 home with $20,000 down, and the 20%-down presets show no PMI line.
The 28% and 36% caps that turn a payment into a price ceiling
The affordability section runs the arithmetic in both directions. Enter your gross income and existing monthly debts and it applies the housing-ratio and debt-to-income caps you set — 28% and 36% by default, both editable — to estimate a maximum comfortable payment. Reverse-solve instead and it works back from a target payment to a maximum home price. Neither direction is an approval — those caps are conventions you can move, not underwriting.
Switch to India and the payment is called an EMI
The region selector is not a currency relabel. Switch to United Kingdom, Canada, Australia, or India and the calculator relabels and adjusts for local costs — Stamp Duty Land Tax in the UK, CMHC mortgage default insurance in Canada, Lenders Mortgage Insurance in Australia, or stamp duty and registration charges in India — with currency and every figure staying fully editable. In India mode the monthly payment is what is commonly called the EMI, the equated monthly installment, and “home loan” is the local term for what this page calls a mortgage. The principal-and-interest math is identical either way.
Five mortgages this calculator gets wrong
This calculator is built for a standard fixed-rate purchase mortgage. It is probably not the right tool — and something else will serve you better — in these cases:
You have an adjustable-rate (ARM), interest-only, VA, or USDA loan.
This models a standard fixed-rate loan only — it does not adjust the rate after an intro period, model interest-only payments, or add a VA funding fee or USDA guarantee fee into the loan.
Ask your lender for a rate-adjustment or fee illustration specific to your loan type — we do not yet have a specialized calculator for these.
You already have a real Loan Estimate from a lender.
A Loan Estimate is a binding federal disclosure with your actual rate, fees, and closing costs. No calculator, including this one, should outrank a document that is already binding.
Use the lender’s numbers. Come back here only to compare scenarios before you reach that stage.
You are refinancing an existing mortgage, not buying.
Refinancing compares your current balance and rate against a new one, plus closing costs and a break-even point — different questions than a purchase loan asks.
This estimates the mortgage payment, not the full trade-off — the opportunity cost of your down payment, expected appreciation, and moving costs are not modeled here.
Try the Rent vs Buy Calculator instead.
None of these are hard walls — you can still use this calculator to sanity-check a number or compare a scenario. They are the cases where we would rather point you somewhere more accurate than let an estimate stand in for the real thing.
Where this estimate and your lender’s Loan Estimate will disagree
A lender quote reflects your exact rate, fees, points, escrow setup, mortgage insurance, and rounding, plus your credit profile and the property — none of which a calculator can know precisely. Treat this estimate as a planning figure and rely on the lender’s official Loan Estimate for the binding numbers.
Three limitations are structural:
Does not include every lender fee, rate-lock term, escrow rule, closing cost, tax reassessment, or insurance quote.
PMI and tax estimates are simplified and may differ from lender, insurer, county, or escrow calculations.
This is not a loan approval, preapproval, quote, or financial recommendation.
And none of it is financial advice. Every result here is an educational estimate built from your assumptions and a standard formula — not a loan offer, underwriting decision, or financial recommendation. For a binding rate, payment, or approval, use your lender’s official Loan Estimate and speak with a qualified professional.
Results are estimates based on the figures you enter and standard formulas. Rates, fees, taxes, and lender terms vary and change over time, so confirm important numbers with your lender or a qualified professional. This is educational information, not financial advice.
Published the mortgage payment calculator with formula and amortization.
Added a lender/offer comparison and a deeper affordability check.
Added a decision receipt and reviewed assumptions for accuracy.
Sharpened the page title and opening copy around the monthly-payment questions readers actually ask, linked the CFPB and Freddie Mac sources directly instead of burying them, and memoized the 9-scenario comparison panel so it no longer recomputes on unrelated interactions.
Show it to your clients, not just tell them
Mortgage brokers, accountants, and advisors embed this to walk clients through the numbers live — nothing they enter ever leaves their browser.