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Mortgage Calculator
Estimate a monthly mortgage payment using home price, down payment, interest rate, loan term, taxes, insurance, and other common housing costs.
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Results
Principal & interest$2,335
Property taxes$400
Homeowners insurance$125
PMI$0
HOA$0
Estimated monthly payment$2,860
Loan amount
$360,000
Down payment
20.0%
Total interest
$480,583
Total paid
$840,583
Payment breakdown
P&ITaxInsurancePMIHOA
Results are estimates for educational purposes only and are not a loan offer, pre-approval, or guarantee of rates, terms, or eligibility. Actual figures may vary based on credit profile, income, property, lender guidelines, and market conditions. Eligibility varies.
Explore My Home Loan Options This calculator is for educational estimates only. Actual payments, rates, taxes, insurance, PMI, HOA dues, and loan terms may vary based on borrower profile, property details, lender guidelines, and market conditions.
Helpful to know
What is included in a mortgage payment?
Most monthly payments include principal, interest, property taxes, homeowners insurance, PMI when applicable, and HOA dues if any.
How down payment affects monthly payment
A larger down payment reduces the loan amount and may help you avoid PMI when 20% or more is put down.
What is PMI?
Private mortgage insurance is typically required on conventional loans when the down payment is less than 20% of the home price.
Why taxes and insurance matter
Taxes and insurance can meaningfully change your monthly payment and are often collected through escrow.
Fixed vs. adjustable basics
Fixed-rate loans keep the same rate for the loan term. Adjustable-rate loans may change after an initial period based on market conditions.
Amortization summary by year
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $3,837 | $24,183 | $356,163 |
| 2 | $4,104 | $23,916 | $352,059 |
| 3 | $4,390 | $23,630 | $347,670 |
| 4 | $4,695 | $23,324 | $342,975 |
| 5 | $5,022 | $22,997 | $337,953 |
| 6 | $5,372 | $22,648 | $332,581 |
| 7 | $5,746 | $22,274 | $326,835 |
| 8 | $6,146 | $21,874 | $320,689 |
| 9 | $6,574 | $21,446 | $314,115 |
| 10 | $7,032 | $20,988 | $307,084 |
| 11 | $7,521 | $20,498 | $299,562 |
| 12 | $8,045 | $19,975 | $291,518 |
| 13 | $8,605 | $19,414 | $282,913 |
| 14 | $9,204 | $18,815 | $273,708 |
| 15 | $9,845 | $18,174 | $263,864 |
| 16 | $10,530 | $17,489 | $253,333 |
| 17 | $11,264 | $16,756 | $242,069 |
| 18 | $12,048 | $15,971 | $230,021 |
| 19 | $12,887 | $15,133 | $217,135 |
| 20 | $13,784 | $14,235 | $203,350 |
| 21 | $14,744 | $13,276 | $188,607 |
| 22 | $15,770 | $12,249 | $172,836 |
| 23 | $16,869 | $11,151 | $155,968 |
| 24 | $18,043 | $9,976 | $137,924 |
| 25 | $19,299 | $8,720 | $118,625 |
| 26 | $20,643 | $7,376 | $97,982 |
| 27 | $22,080 | $5,939 | $75,902 |
| 28 | $23,618 | $4,402 | $52,284 |
| 29 | $25,262 | $2,757 | $27,021 |
| 30 | $27,021 | $998 | $0 |