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. Compare rate, term, and down-payment scenarios, see how extra payments shorten your payoff date, and download a workbook you can check by hand.
Full payment Taxes & insurance Extra payments Amortization Excel model
Actual taxes, insurance, PMI, fees, and rates vary — confirm every figure with your lender.
Mortgage estimate
Enter your home loan details
Set the purchase, loan, tax, insurance, PMI, HOA, and extra-payment assumptions. Your results update instantly as you change any input.
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 June 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
May 2056
Loan-to-Value Ratio
80.0%
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
Monthly Payment Breakdown
Component
Monthly
Principal & Interest
$2,076
Property Tax
$400
Insurance
$125
Principal vs. Interest Over Time
Early mortgage payments are usually more interest-heavy.
Estimated total interest is $427,188 over 30 years.
Show data table
Principal vs. Interest Over Time
Year
Principal
Interest
2026
$1,961
$12,567
2027
$3,547
$21,359
2028
$3,794
$21,112
2029
$4,058
$20,848
2030
$4,341
$20,566
2031
$4,643
$20,263
2032
$4,966
$19,940
2033
$5,312
$19,594
2034
$5,682
$19,224
2035
$6,077
$18,829
2036
$6,500
$18,406
2037
$6,953
$17,953
2038
$7,437
$17,469
2039
$7,955
$16,951
2040
$8,509
$16,397
2041
$9,101
$15,805
2042
$9,735
$15,171
2043
$10,413
$14,493
2044
$11,138
$13,768
2045
$11,914
$12,993
2046
$12,743
$12,163
2047
$13,630
$11,276
2048
$14,579
$10,327
2049
$15,595
$9,312
2050
$16,680
$8,226
2051
$17,842
$7,064
2052
$19,084
$5,822
2053
$20,413
$4,493
2054
$21,834
$3,072
2055
$23,354
$1,552
2056
$10,209
$173
Remaining Loan Balance
Track how quickly the principal balance declines.
The ending balance reaches $0 by May 2056.
Show data table
Remaining Loan Balance
Year
Balance
2026
$318,039
2027
$314,492
2028
$310,698
2029
$306,640
2030
$302,299
2031
$297,656
2032
$292,690
2033
$287,378
2034
$281,697
2035
$275,619
2036
$269,119
2037
$262,166
2038
$254,728
2039
$246,773
2040
$238,264
2041
$229,163
2042
$219,428
2043
$209,015
2044
$197,877
2045
$185,963
2046
$173,220
2047
$159,590
2048
$145,011
2049
$129,416
2050
$112,736
2051
$94,894
2052
$75,810
2053
$55,397
2054
$33,563
2055
$10,209
2056
$0
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
Lifetime out-of-pocket breakdown
Component
Lifetime total
Down payment
$80,000
Principal
$320,000
Interest
$427,188
Property tax
$144,000
Insurance
$45,000
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.
Show data table
Ownership cost escalation
Year
Annual ownership cost
1
$6,300
2
$6,300
3
$6,300
4
$6,300
5
$6,300
6
$6,300
7
$6,300
8
$6,300
9
$6,300
10
$6,300
11
$6,300
12
$6,300
13
$6,300
14
$6,300
15
$6,300
16
$6,300
17
$6,300
18
$6,300
19
$6,300
20
$6,300
21
$6,300
22
$6,300
23
$6,300
24
$6,300
25
$6,300
26
$6,300
27
$6,300
28
$6,300
29
$6,300
30
$6,300
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
$14,528.57
$1,961.43
$12,567.14
$0.00
$318,038.57
2027
$24,906.12
$3,546.91
$21,359.21
$0.00
$314,491.66
2028
$24,906.12
$3,793.88
$21,112.24
$0.00
$310,697.78
2029
$24,906.12
$4,058.03
$20,848.09
$0.00
$306,639.75
2030
$24,906.12
$4,340.59
$20,565.53
$0.00
$302,299.16
2031
$24,906.12
$4,642.84
$20,263.28
$0.00
$297,656.32
2032
$24,906.12
$4,966.10
$19,940.02
$0.00
$292,690.22
2033
$24,906.12
$5,311.87
$19,594.25
$0.00
$287,378.35
2034
$24,906.12
$5,681.73
$19,224.39
$0.00
$281,696.62
2035
$24,906.12
$6,077.34
$18,828.78
$0.00
$275,619.28
2036
$24,906.12
$6,500.48
$18,405.64
$0.00
$269,118.80
2037
$24,906.12
$6,953.10
$17,953.02
$0.00
$262,165.70
2038
$24,906.12
$7,437.23
$17,468.89
$0.00
$254,728.47
2039
$24,906.12
$7,955.06
$16,951.06
$0.00
$246,773.41
2040
$24,906.12
$8,508.96
$16,397.16
$0.00
$238,264.45
2041
$24,906.12
$9,101.43
$15,804.69
$0.00
$229,163.02
2042
$24,906.12
$9,735.12
$15,171.00
$0.00
$219,427.90
2043
$24,906.12
$10,412.99
$14,493.13
$0.00
$209,014.91
2044
$24,906.12
$11,138.00
$13,768.12
$0.00
$197,876.91
2045
$24,906.12
$11,913.54
$12,992.58
$0.00
$185,963.37
2046
$24,906.12
$12,743.05
$12,163.07
$0.00
$173,220.32
2047
$24,906.12
$13,630.32
$11,275.80
$0.00
$159,590.00
2048
$24,906.12
$14,579.35
$10,326.77
$0.00
$145,010.65
2049
$24,906.12
$15,594.51
$9,311.61
$0.00
$129,416.14
2050
$24,906.12
$16,680.30
$8,225.82
$0.00
$112,735.84
2051
$24,906.12
$17,841.72
$7,064.40
$0.00
$94,894.12
2052
$24,906.12
$19,083.98
$5,822.14
$0.00
$75,810.14
2053
$24,906.12
$20,412.77
$4,493.35
$0.00
$55,397.37
2054
$24,906.12
$21,834.07
$3,072.05
$0.00
$33,563.30
2055
$24,906.12
$23,354.35
$1,551.77
$0.00
$10,208.95
2056
$10,381.92
$10,208.95
$172.97
$0.00
$0.00
Your mortgage timeline
The long-term journey of this loan, from the first payment to full ownership.
Loan startsJun 2026
First paymentJun 2026
PMI / mortgage insuranceNot expected at 20%+ downRules vary by lender and loan type.
Half of principal paidDec 2047
Mortgage payoffMay 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
May 2056
Total interest
$427,188
Total housing cost
$936,188
With extra payments
Example shown: +$200/month
Monthly + extra
$2,801
Payoff date
Sep 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.
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.
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 higher-rate scenarios above before relying on the starting estimate.
Compare the estimated lifetime interest (about $427,188) with your budget, alternatives, and official lender estimates.
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.
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.
At a glance
Formula shown
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.
How to read your result
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 amortization 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.
Mortgage methodology
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
Mortgage example
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
Assumptions
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.
Limitations
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.
Frequently asked questions
What is a mortgage calculator?
A mortgage calculator estimates the 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 also projects total interest and the payoff date, so you can compare scenarios before talking with a lender.
How is the monthly mortgage payment calculated?
The principal-and-interest payment uses 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. This produces a level payment that fully repays the loan by the end of its term.
Why does my lender’s quote differ from this calculator?
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.
What is PMI and how do I remove it?
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.
Is this calculator financial advice?
No. 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.
Mortgage Payment vs Total Loan Cost: What Borrowers Often Miss
The monthly payment is only part of the story. See how principal, interest, and term shape the total cost of a mortgage, with a worked 30-year example.