Mortgage calculator
- Methodology & sources
- Runs in your browser
Your full monthly housing payment, principal and interest plus property tax, insurance, PMI and HOA dues, and how the loan is paid down year by year.
Mortgage calculator
Monthly payment
$2,505.95
- Principal & interest
- $2,022.62
- Property tax
- $333.33
- Insurance
- $150.00
- PMI
- $0.00
- Loan amount
- $320,000
- Total interest
- $408,141
Amortization schedule (yearly)
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $20,695 | $3,577 | $316,423 |
| 2 | $20,455 | $3,816 | $312,607 |
| 3 | $20,200 | $4,072 | $308,535 |
| 4 | $19,927 | $4,345 | $304,191 |
| 5 | $19,636 | $4,636 | $299,555 |
| 6 | $19,325 | $4,946 | $294,609 |
| 7 | $18,994 | $5,277 | $289,332 |
| 8 | $18,641 | $5,631 | $283,701 |
| 9 | $18,264 | $6,008 | $277,693 |
| 10 | $17,861 | $6,410 | $271,283 |
| 11 | $17,432 | $6,839 | $264,444 |
| 12 | $16,974 | $7,297 | $257,146 |
| 13 | $16,485 | $7,786 | $249,360 |
| 14 | $15,964 | $8,308 | $241,053 |
| 15 | $15,407 | $8,864 | $232,189 |
| 16 | $14,814 | $9,458 | $222,731 |
| 17 | $14,180 | $10,091 | $212,640 |
| 18 | $13,505 | $10,767 | $201,873 |
| 19 | $12,784 | $11,488 | $190,385 |
| 20 | $12,014 | $12,257 | $178,128 |
| 21 | $11,193 | $13,078 | $165,050 |
| 22 | $10,317 | $13,954 | $151,096 |
| 23 | $9,383 | $14,889 | $136,207 |
| 24 | $8,386 | $15,886 | $120,321 |
| 25 | $7,322 | $16,950 | $103,372 |
| 26 | $6,187 | $18,085 | $85,287 |
| 27 | $4,976 | $19,296 | $65,991 |
| 28 | $3,683 | $20,588 | $45,403 |
| 29 | $2,304 | $21,967 | $23,436 |
| 30 | $833 | $23,436 | $0 |
Monthly payment
Frequently asked questions
What is the monthly payment on a $400,000 house?
With 20% down ($80,000) and a 30-year fixed rate of 6.5%, principal and interest come to $2,022.62 a month. With 1% property tax and $1,800 a year of insurance, the full payment is $2,505.95.
How much does PMI add?
With 10% down on the same home, the loan rises to $360,000 and PMI at 0.5% a year adds $150.00 a month, for a total payment of $2,908.77. PMI ends automatically once the balance reaches 78% of the original value.
15-year or 30-year mortgage?
A 15-year loan has higher payments ($2,787.54 of principal and interest on $320,000 at the same rate) but far less interest: $181,758 instead of $408,141. Lenders usually also price 15-year loans at a lower rate.
What does PITI mean?
Principal, interest, taxes and insurance: the four parts of a typical monthly mortgage payment when the lender collects property tax and homeowners insurance through an escrow account.