Mortgage Calculator

Use this mortgage calculator with taxes and insurance to estimate monthly payments, total interest, extra payments and your payoff date.

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More options

One-time payments

Payment 1

Monthly pay: $1,918.56

CostMonthlyTotal
Mortgage payment$1,918.56$690,682.20
Property tax$400.00$144,000.00
Home insurance$125.00$45,000.00
PMI insurance$0.00$0.00
HOA fee$0.00$0.00
Other costs$333.33$120,000.00
Extra payments$0.00$0.00
Total out-of-pocket$2,776.90$999,682.20
House price
$400,000.00
Loan amount
$320,000.00
Down payment
$80,000.00
Total of 360 mortgage payments
$690,682.20
Total interest
$370,682.20
Mortgage payoff date
Jan 2056

Total cost breakdown

Principal & interest: $690,682.20 (69%)Property tax: $144,000.00 (14%)Home insurance: $45,000.00 (5%)Other costs: $120,000.00 (12%)
  • Principal & interest: $690,682.20 (69%)
  • Property tax: $144,000.00 (14%)
  • Home insurance: $45,000.00 (5%)
  • Other costs: $120,000.00 (12%)

Loan balance and cumulative payments

$0$345K$691KYear 0: Balance $320,000.00Year 1: Balance $316,070.36Year 2: Balance $311,898.35Year 3: Balance $307,469.02Year 4: Balance $302,766.50Year 5: Balance $297,773.94Year 6: Balance $292,473.45Year 7: Balance $286,846.03Year 8: Balance $280,871.53Year 9: Balance $274,528.54Year 10: Balance $267,794.32Year 11: Balance $260,644.75Year 12: Balance $253,054.21Year 13: Balance $244,995.50Year 14: Balance $236,439.75Year 15: Balance $227,356.30Year 16: Balance $217,712.60Year 17: Balance $207,474.10Year 18: Balance $196,604.12Year 19: Balance $185,063.69Year 20: Balance $172,811.48Year 21: Balance $159,803.57Year 22: Balance $145,993.37Year 23: Balance $131,331.38Year 24: Balance $115,765.08Year 25: Balance $99,238.68Year 26: Balance $81,692.97Year 27: Balance $63,065.07Year 28: Balance $43,288.25Year 29: Balance $22,291.64Year 30: Balance $0.00Year 0: Interest $0.00Year 1: Interest $19,093.10Year 2: Interest $37,943.83Year 3: Interest $56,537.24Year 4: Interest $74,857.46Year 5: Interest $92,887.64Year 6: Interest $110,609.89Year 7: Interest $128,005.22Year 8: Interest $145,053.45Year 9: Interest $161,733.20Year 10: Interest $178,021.72Year 11: Interest $193,894.89Year 12: Interest $209,327.09Year 13: Interest $224,291.13Year 14: Interest $238,758.12Year 15: Interest $252,697.40Year 16: Interest $266,076.45Year 17: Interest $278,860.69Year 18: Interest $291,013.44Year 19: Interest $302,495.75Year 20: Interest $313,266.28Year 21: Interest $323,281.12Year 22: Interest $332,493.65Year 23: Interest $340,854.41Year 24: Interest $348,310.84Year 25: Interest $354,807.18Year 26: Interest $360,284.21Year 27: Interest $364,679.06Year 28: Interest $367,924.98Year 29: Interest $369,951.10Year 30: Interest $370,682.20Year 0: Payment $0.00Year 1: Payment $23,022.74Year 2: Payment $46,045.48Year 3: Payment $69,068.22Year 4: Payment $92,090.96Year 5: Payment $115,113.70Year 6: Payment $138,136.44Year 7: Payment $161,159.18Year 8: Payment $184,181.92Year 9: Payment $207,204.66Year 10: Payment $230,227.40Year 11: Payment $253,250.14Year 12: Payment $276,272.88Year 13: Payment $299,295.62Year 14: Payment $322,318.36Year 15: Payment $345,341.10Year 16: Payment $368,363.84Year 17: Payment $391,386.58Year 18: Payment $414,409.32Year 19: Payment $437,432.06Year 20: Payment $460,454.80Year 21: Payment $483,477.54Year 22: Payment $506,500.28Year 23: Payment $529,523.02Year 24: Payment $552,545.76Year 25: Payment $575,568.50Year 26: Payment $598,591.24Year 27: Payment $621,613.98Year 28: Payment $644,636.72Year 29: Payment $667,659.46Year 30: Payment $690,682.20030 years
  • Balance
  • Interest
  • Payment

Amortization schedule

YearDateInterestPrincipalEnding balance
1Jan 2026 – Dec 2026$19,093$3,930$316,070
2Jan 2027 – Dec 2027$18,851$4,172$311,898
3Jan 2028 – Dec 2028$18,593$4,429$307,469
4Jan 2029 – Dec 2029$18,320$4,703$302,767
5Jan 2030 – Dec 2030$18,030$4,993$297,774
6Jan 2031 – Dec 2031$17,722$5,300$292,473
7Jan 2032 – Dec 2032$17,395$5,627$286,846
8Jan 2033 – Dec 2033$17,048$5,975$280,872
9Jan 2034 – Dec 2034$16,680$6,343$274,529
10Jan 2035 – Dec 2035$16,289$6,734$267,794
11Jan 2036 – Dec 2036$15,873$7,150$260,645
12Jan 2037 – Dec 2037$15,432$7,591$253,054
13Jan 2038 – Dec 2038$14,964$8,059$244,996
14Jan 2039 – Dec 2039$14,467$8,556$236,440
15Jan 2040 – Dec 2040$13,939$9,083$227,356
16Jan 2041 – Dec 2041$13,379$9,644$217,713
17Jan 2042 – Dec 2042$12,784$10,239$207,474
18Jan 2043 – Dec 2043$12,153$10,870$196,604
19Jan 2044 – Dec 2044$11,482$11,540$185,064
20Jan 2045 – Dec 2045$10,771$12,252$172,811
21Jan 2046 – Dec 2046$10,015$13,008$159,804
22Jan 2047 – Dec 2047$9,213$13,810$145,993
23Jan 2048 – Dec 2048$8,361$14,662$131,331
24Jan 2049 – Dec 2049$7,456$15,566$115,765
25Jan 2050 – Dec 2050$6,496$16,526$99,239
26Jan 2051 – Dec 2051$5,477$17,546$81,693
27Jan 2052 – Dec 2052$4,395$18,628$63,065
28Jan 2053 – Dec 2053$3,246$19,777$43,288
29Jan 2054 – Dec 2054$2,026$20,997$22,292
30Jan 2055 – Dec 2055$731$22,292$0

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Mortgage payment calculator formula

For a fixed-rate mortgage, monthly principal and interest equal P × r ÷ [1 − (1 + r)^(−n)], where P is the financed principal, r is annual interest divided by 12 and n is the number of monthly payments. With zero interest, the payment is P ÷ n. The down payment can be entered in dollars or as a percentage of the home price.

Mortgage calculator with taxes and insurance

Enable costs to include annual property taxes, home insurance, PMI, HOA fees and other costs. Percentage entries for property taxes, insurance, HOA and other costs use the original home price; PMI percentages use the original loan amount. Annual cost increases apply every 12 payments. The initial monthly total and lifetime out-of-pocket total include enabled costs.

Extra payments and amortization

More options lets you add monthly, yearly and dated one-time principal payments. These are applied after the month’s interest is calculated and can shorten the mortgage and reduce total interest. The mortgage payment total excludes extra principal, which is shown separately. Annual and monthly schedules include all principal paid. Extra payments are active only while the costs-and-options checkbox is enabled.

PMI and estimate limitations

This calculator stops charging estimated PMI in the payment month when the remaining balance reaches 80% of the original home price. Actual cancellation requires lender approval and may follow different rules, including scheduled 78% automatic termination for qualifying loans. The example interest rate is not a live rate quote. This fixed-rate estimate does not determine FHA/VA eligibility, annual loan limits, closing costs or tax deductions.

The estimated PMI stop described above is a simplified assumption; the sources in References do not establish the amortization formula or annual cost increases.

Frequently asked questions

Why is the total monthly amount higher than the mortgage payment?

The mortgage payment is principal and interest. The monthly out-of-pocket estimate also includes enabled property taxes, insurance, HOA, other costs and applicable extra principal.

Are taxes and insurance updated automatically?

No. Enter your annual costs and expected annual percentage increases. They are projections, not government tax forecasts.

Does a larger down payment reduce PMI?

A larger down payment lowers financed principal. This model charges PMI only while the balance after a payment remains above 80% of the original home price.

Can I compare biweekly payments?

Enable biweekly payback under More options. The comparison uses half the regular monthly payment every two weeks; actual lender processing can differ.

What's changed
  • Launched.

References