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Mortgage Calculator

Estimate your full monthly mortgage payment — principal, interest, property tax, home insurance, PMI, HOA, and other costs — plus total interest, total cost, and the amortization schedule.

$
$

Amount paid upfront. The rest is financed.

%

Annual interest rate (APR).

%

Annual property tax, as a percent of home price.

$

Annual homeowners insurance premium.

%

Annual private mortgage insurance, as a percent of the loan. Usually required when the down payment is under 20%.

$

Monthly homeowners association fee.

$

Annual maintenance, utilities, and other recurring costs.

$

Optional extra principal each month. Pays the loan off sooner and cuts total interest.

Monthly Payment

$2,880.95

Principal & Interest
$2,022.62
Property Tax
$400.00
Home Insurance
$125.00
PMI
$0.00
HOA Fee
$0.00
Other Costs
$333.33
Loan Amount
$320,000.00
Total Interest
$408,142.36
Total Out-of-Pocket
$1,037,142.36
Payoff time
30 years

Monthly payment breakdown

Principal & Interest 70%, Property Tax 14%, Home Insurance 4%, Other (PMI, HOA, etc.) 12%
  • Principal & Interest70%
  • Property Tax14%
  • Home Insurance4%
  • Other (PMI, HOA, etc.)12%

Amortization schedule

PeriodInterestPrincipalBalance
Year 1$20,694.69$3,576.72$316,423.28
Year 2$20,455.15$3,816.26$312,607.02
Year 3$20,199.57$4,071.84$308,535.17
Year 4$19,926.87$4,344.54$304,190.63
Year 5$19,635.91$4,635.50$299,555.13
Year 6$19,325.46$4,945.95$294,609.18
Year 7$18,994.22$5,277.19$289,331.98
Year 8$18,640.80$5,630.62$283,701.37
Year 9$18,263.70$6,007.71$277,693.66
Year 10$17,861.36$6,410.06$271,283.60
Year 11$17,432.06$6,839.35$264,444.26
Year 12$16,974.02$7,297.39$257,146.86
Year 13$16,485.30$7,786.11$249,360.75
Year 14$15,963.85$8,307.56$241,053.19
Year 15$15,407.48$8,863.94$232,189.25
Year 16$14,813.84$9,457.57$222,731.68
Year 17$14,180.45$10,090.96$212,640.72
Year 18$13,504.64$10,766.77$201,873.95
Year 19$12,783.57$11,487.84$190,386.11
Year 20$12,014.21$12,257.20$178,128.90
Year 21$11,193.32$13,078.09$165,050.81
Year 22$10,317.46$13,953.96$151,096.86
Year 23$9,382.93$14,888.48$136,208.38
Year 24$8,385.83$15,885.59$120,322.79
Year 25$7,321.94$16,949.47$103,373.32
Year 26$6,186.80$18,084.61$85,288.71
Year 27$4,975.64$19,295.77$65,992.94
Year 28$3,683.37$20,588.05$45,404.89
Year 29$2,304.55$21,966.86$23,438.03
Year 30$833.39$23,438.03$0.00
Monthly Payment$2,880.95View results

Estimate your full monthly mortgage payment — not just principal and interest, but property tax, home insurance, PMI, HOA, and other recurring costs. Enter the home price, down payment, rate, and term, then add the cost details — and an optional extra monthly principal payment — for a realistic picture of your monthly housing cost, total interest, and payoff time.

Formula

The loan amount is the home price minus the down payment. The principal & interest portion comes from the standard amortization formula, for a loan P, monthly rate r (annual rate ÷ 12), and n total monthly payments:

P&I = P · r(1 + r)^n / ((1 + r)^n − 1)

The full monthly payment adds the recurring costs:

Monthly payment = P&I + property tax/12 + insurance/12 + PMI/12 + HOA + other/12
A larger down payment lowers your monthly payment, cuts total interest, and — at 20% down — removes PMI.

What makes up the payment (PITI)

ComponentEntered asMonthly portion
Principal & Interestloan, rate, termamortized payment
Property Tax% of home price / yearannual ÷ 12
Home Insurance$ / yearannual ÷ 12
PMI% of loan / yearannual ÷ 12
HOA Fee$ / monthas entered
Other Costs$ / yearannual ÷ 12

Examples

$400,000 home · 20% down · 30-year term

A $400,000 home with $80,000 down leaves a $320,000 loan. At 6.5% over 30 years, principal & interest is about $2,022/month. Adding $400 property tax, $125 insurance, and $333 other costs brings the full payment to about $2,881/month.

Less than 20% down adds PMI

Putting $40,000 (10%) down on the same home means a $360,000 loan and PMI. At a 0.5% PMI rate that adds about $150/month until you build enough equity for it to drop off.

Frequently asked questions

What is included in a monthly mortgage payment?
A full payment is often called PITI — principal, interest, taxes, and insurance. This calculator adds those four together, plus PMI (if your down payment is under 20%), HOA fees, and other recurring costs like maintenance, to estimate your true monthly housing cost.
How is the principal and interest calculated?
It uses the amortization 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 total number of monthly payments.
When do I have to pay PMI?
Private mortgage insurance is typically required when your down payment is less than 20% of the home price. It usually ends once you reach about 20–22% equity, so in practice it may not run for the full loan term.
How are property tax and insurance turned into a monthly figure?
Property tax is entered as an annual percentage of the home price, and home insurance and other costs as annual dollar amounts; each is divided by 12 to get the monthly portion. HOA fees are entered directly as a monthly amount.
Can extra payments pay the loan off sooner?
Yes. An extra monthly principal payment is applied on top of the scheduled P&I, so the balance drops faster, total interest falls, and the payoff time shown is the actual months to clear the loan rather than the original term.
Does a bigger down payment help?
Yes. A larger down payment shrinks the loan amount, which lowers both your monthly principal and interest and the total interest paid — and reaching 20% down lets you avoid PMI entirely.

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