Calculator
Mortgage Calculator
Enter a home price, down payment, rate, and term, then add property tax, homeowners insurance, and HOA dues for a fuller monthly picture than principal and interest alone.
Loan details
20% down
Annual rate
Annual amount
Annual amount
Monthly amount
Results
Total monthly payment
$2,572.62
Principal & interest
$2,022.62
Property tax
Monthly escrow estimate
$400.00
Insurance
Monthly escrow estimate
$150.00
HOA
$0.00
Loan amount
$320,000.00
Total interest
$408,140.64
Total cost
Price plus interest, tax, insurance, and HOA over the full term
$1,006,140.64
Yearly amortization
Principal and interest by year. Monthly rows are grouped to keep the table lightweight.
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,576.76 | $20,694.68 | $316,423.24 |
| 2 | $3,816.28 | $20,455.16 | $312,606.96 |
| 3 | $4,071.88 | $20,199.56 | $308,535.08 |
| 4 | $4,344.57 | $19,926.87 | $304,190.51 |
| 5 | $4,635.54 | $19,635.90 | $299,554.97 |
| 6 | $4,946.00 | $19,325.44 | $294,608.97 |
| 7 | $5,277.22 | $18,994.22 | $289,331.75 |
| 8 | $5,630.65 | $18,640.79 | $283,701.10 |
| 9 | $6,007.75 | $18,263.69 | $277,693.35 |
| 10 | $6,410.11 | $17,861.33 | $271,283.24 |
| 11 | $6,839.41 | $17,432.03 | $264,443.83 |
| 12 | $7,297.46 | $16,973.98 | $257,146.37 |
| 13 | $7,786.17 | $16,485.27 | $249,360.20 |
| 14 | $8,307.62 | $15,963.82 | $241,052.58 |
| 15 | $8,864.02 | $15,407.42 | $232,188.56 |
| 16 | $9,457.63 | $14,813.81 | $222,730.93 |
| 17 | $10,091.05 | $14,180.39 | $212,639.88 |
| 18 | $10,766.86 | $13,504.58 | $201,873.02 |
| 19 | $11,487.93 | $12,783.51 | $190,385.09 |
| 20 | $12,257.30 | $12,014.14 | $178,127.79 |
| 21 | $13,078.20 | $11,193.24 | $165,049.59 |
| 22 | $13,954.06 | $10,317.38 | $151,095.53 |
| 23 | $14,888.61 | $9,382.83 | $136,206.92 |
| 24 | $15,885.71 | $8,385.73 | $120,321.21 |
| 25 | $16,949.60 | $7,321.84 | $103,371.61 |
| 26 | $18,084.76 | $6,186.68 | $85,286.85 |
| 27 | $19,295.92 | $4,975.52 | $65,990.93 |
| 28 | $20,588.22 | $3,683.22 | $45,402.71 |
| 29 | $21,967.04 | $2,304.40 | $23,435.67 |
| 30 | $23,435.67 | $833.21 | $0.00 |
Calculators and articles on this site are for education only. They are not financial, investment, tax, legal, or professional advice.
How this calculation works
Start with the loan amount: home price minus down payment. Principal and interest follow the standard fully amortizing formula, with the annual rate converted to a monthly rate. At a 0% rate, the payment is simply the loan divided by the number of months.
Annual property tax and homeowners insurance are divided by 12. HOA dues enter as a monthly figure. Those extras sit on top of principal and interest for a fuller housing total; they are not part of the amortization schedule itself.
M = P × [r(1 + r)^n] / [(1 + r)^n − 1]
M is the monthly principal and interest payment, P is the loan amount, r is the monthly interest rate, and n is the number of months.
Example
A $400,000 home with $80,000 down leaves a $320,000 loan. At 6.5% for 30 years, principal and interest come to about $2,023 per month. $4,800 in annual tax and $1,800 in annual insurance add $550. With no HOA, the estimated total is about $2,573.
Early years lean heavily toward interest. The yearly table shows how the mix gradually shifts toward principal as the balance declines.
Frequently asked questions
Can I include taxes and insurance?
Yes. Enter annual property tax and homeowners insurance, plus a monthly HOA fee if you have one. Principal and interest are shown separately so you can see each piece.
Is this a loan offer or approval?
No. Lenders look at credit, income, debts, and the property. This tool only estimates a payment from the numbers you type.
Why doesn’t this match a lender’s quote?
Quotes may include mortgage insurance, different escrow amounts, points, or another rate. Local taxes and insurance also change. Use a written Loan Estimate for decisions.
Can I model extra principal payments?
Not in this version. The schedule assumes a standard amortizing payment. Extra principal would cut total interest and shorten the term.
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