Mortgage Calculator
100% in your browser — nothing is uploaded20.0% of price
Total monthly payment
$2,512.62
$2,022.62 principal & interest + $490 taxes/ins/HOA
Amortization schedule (year by year)
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Your monthly mortgage payment is more than principal and interest — property taxes, homeowners insurance, and HOA dues often add 20–40% on top of the loan payment itself. This calculator shows the full monthly picture, then breaks down exactly how much of each year's payments go to interest versus paying down the balance.
Early in a 30-year loan the split is lopsided: in year one of a typical loan, roughly two-thirds of every payment is interest. The amortization table below the results makes that visible year by year, which is the single most useful thing to understand before choosing between a 15- and 30-year term.
How to use the mortgage calculator
- Enter the home price and your planned down payment.
- Set the interest rate you've been quoted and the loan term.
- Optionally add monthly property tax, insurance, and HOA estimates.
- Read your total monthly payment and expand the amortization schedule to see interest vs. principal over time.
Frequently asked questions
How is the monthly payment calculated?
Principal and interest use the standard fixed-rate amortization formula: payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is the loan amount, r the monthly interest rate, and n the number of monthly payments. Taxes, insurance, and HOA are added on top as flat monthly amounts.
What down payment do I need?
Conventional loans allow as little as 3% down, but below 20% most lenders require private mortgage insurance (PMI), which typically costs 0.3%–1.5% of the loan amount per year. This calculator doesn't add PMI automatically — if you're putting less than 20% down, add an estimate to the insurance field.
Should I choose a 15-year or 30-year term?
A 15-year loan carries a higher monthly payment but dramatically less total interest — often less than half. Run both terms here and compare the 'total interest' figures; the difference is usually six figures on a typical home.
Is my data sent anywhere?
No. Every calculation runs in your browser. Nothing you type is uploaded, stored, or shared.