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Mortgage Calculator

Enter your home price, down payment and loan terms to see your true monthly payment, not just principal and interest.

Runs entirely in your browser. Nothing you enter is uploaded or stored.

Total monthly payment
$2,917.11
Principal & interest
$2,275.44
Taxes, insurance & fees
$641.67
Loan amount
$360,000

PMI adds $150.00/mo until your balance reaches 78% of the home price: around month 109 (year 10), after which it can be removed.

Yearly breakdown

YearPrincipal paidInterest paidRemaining balance
1$4,024$23,282$355,976
2$4,293$23,012$351,683
3$4,581$22,725$347,102
4$4,888$22,418$342,214
5$5,215$22,090$337,000
6$5,564$21,741$331,435
7$5,937$21,368$325,498
8$6,334$20,971$319,164
9$6,759$20,547$312,405
10$7,211$20,094$305,194
11$7,694$19,611$297,500
12$8,210$19,096$289,290
13$8,759$18,546$280,531
14$9,346$17,959$271,185
15$9,972$17,333$261,213
16$10,640$16,666$250,573
17$11,352$15,953$239,221
18$12,113$15,193$227,108
19$12,924$14,382$214,184
20$13,789$13,516$200,395
21$14,713$12,592$185,682
22$15,698$11,607$169,984
23$16,750$10,556$153,234
24$17,871$9,434$135,363
25$19,068$8,237$116,295
26$20,345$6,960$95,950
27$21,708$5,598$74,242
28$23,162$4,144$51,081
29$24,713$2,593$26,368
30$26,368$938$0
Also try:Loan / EMI Calculator

How to use the Mortgage Calculator

  1. 1Enter the home price, down payment, interest rate and loan term.
  2. 2Add your property tax rate, home insurance and any HOA fee so the total reflects what you'll actually pay each month.
  3. 3If you're putting down less than 20%, add a PMI rate to see that extra cost and when it can come off.
  4. 4Scroll the yearly breakdown to see how the loan balance shrinks over time.

What’s included in this payment

A mortgage payment is rarely just principal and interest. This calculator rolls in the four costs that typically show up on a real monthly bill: principal and interest on the loan itself, property tax, home insurance, and (if your down payment is under 20%) private mortgage insurance (PMI). An optional HOA fee is added on top for homes where one applies. Adding these separately, rather than folding them into one number, makes it clear which parts are fixed by the loan and which depend on where you live and how you insure the home.

How PMI is calculated, and when it goes away

PMI is charged as a percentage of the loan amount per year, split into monthly installments, and it only applies while your equity is thin. This calculator checks your down payment against the 20% threshold to decide whether PMI applies at all, then walks the amortization schedule to find the month your balance is projected to drop to 78% of the original home price: the point federal law requires automatic cancellation for a typical conventional loan. That’s an estimate based on the scheduled payoff; paying extra toward principal would get you there sooner, and a change in your home’s market value doesn’t affect this scheduled figure.

Why property tax and insurance are shown as their own lines

Property tax and insurance don’t depend on your loan terms at all: they depend on your home’s assessed value and where you live. Keeping them as separate inputs (rather than baking in an assumption) means you can swap in your actual county tax rate and your actual insurance quote once you have them, and immediately see how the total payment moves. Many first-time buyers are surprised that these two lines alone can add several hundred dollars a month on top of principal and interest.

Reading the yearly table

The table below the summary numbers covers principal and interest only (the same amortization math as a plain loan calculator) since property tax, insurance, PMI and HOA don’t amortize; they’re recalculated fresh each year at roughly the same rate. Each row sums twelve months into one line: how much went to principal, how much to interest, and what’s left owed. The split shifts from mostly-interest early on to mostly-principal later, which is normal for every fixed-rate loan.

Questions

Why is this payment higher than a plain loan calculator gives me?
Because a mortgage payment usually isn't just principal and interest: lenders collect property tax and home insurance monthly too, often through an escrow account, and add PMI if your down payment is small. This calculator adds all of that in, which is why the total here is usually higher than the "P&I" figure you'd get from a generic loan calculator.
What is PMI and why does it depend on my down payment?
Private Mortgage Insurance protects the lender, not you, if you default on a conventional loan with less than 20% down: it exists because a smaller down payment means more risk for the lender. Put down 20% or more and PMI usually isn't required at all.
When can I get rid of PMI?
Under the U.S. Homeowners Protection Act, lenders must automatically cancel PMI once your loan balance is scheduled to reach 78% of the original home value, and you can usually request removal yourself once it reaches 80%. This calculator estimates that month for you based on your amortization schedule.
Does the property tax percentage vary a lot by location?
Yes, significantly: effective property tax rates in the U.S. range from well under 0.5% of home value in some states to over 2% in others. The default here is a rough national midpoint; replace it with your county's actual rate for an accurate number.
Is my mortgage information sent anywhere?
No. Every calculation happens in this browser tab. Nothing you enter is uploaded, logged or saved, and refreshing the page clears it. The one thing kept is the currency you pick, stored on this device only so every money calculator here opens in it. Clearing this site's data in your browser removes it.