Home Loan Calculator
Your whole monthly mortgage payment, not just principal and interest: property tax, homeowners insurance, PMI and HOA dues, plus the month your PMI drops off.
Where each payment goes
Annual percentage rate
The cost of your credit as a yearly rate.
Finance charge
The dollar amount the credit will cost you.
Amount financed
The amount of credit provided to you.
Total of payments
What you'll have paid after all scheduled payments.
Payment schedule: 360 monthly principal & interest payments of $2,275.44. Excludes taxes, insurance, PMI and closing costs. Points and lender fees raise the real APR — see the APR calculator.
How the balance falls
Amortization schedule
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| Year 1 | $27,305.34 | $23,281.53 | $4,023.81 | $355,976.19 |
| Year 2 | $27,305.34 | $23,012.04 | $4,293.29 | $351,682.89 |
| Year 3 | $27,305.34 | $22,724.51 | $4,580.82 | $347,102.07 |
| Year 4 | $27,305.34 | $22,417.73 | $4,887.61 | $342,214.46 |
| Year 5 | $27,305.34 | $22,090.40 | $5,214.94 | $336,999.52 |
| Year 6 | $27,305.34 | $21,741.14 | $5,564.20 | $331,435.32 |
| Year 7 | $27,305.34 | $21,368.50 | $5,936.84 | $325,498.48 |
| Year 8 | $27,305.34 | $20,970.90 | $6,334.44 | $319,164.04 |
| Year 9 | $27,305.34 | $20,546.67 | $6,758.67 | $312,405.37 |
| Year 10 | $27,305.34 | $20,094.03 | $7,211.31 | $305,194.05 |
| Year 11 | $27,305.34 | $19,611.07 | $7,694.27 | $297,499.79 |
| Year 12 | $27,305.34 | $19,095.77 | $8,209.57 | $289,290.22 |
| Year 13 | $27,305.34 | $18,545.96 | $8,759.38 | $280,530.84 |
| Year 14 | $27,305.34 | $17,959.33 | $9,346.01 | $271,184.84 |
| Year 15 | $27,305.34 | $17,333.41 | $9,971.93 | $261,212.91 |
| Year 16 | $27,305.34 | $16,665.57 | $10,639.77 | $250,573.14 |
| Year 17 | $27,305.34 | $15,953.01 | $11,352.33 | $239,220.81 |
| Year 18 | $27,305.34 | $15,192.72 | $12,112.62 | $227,108.19 |
| Year 19 | $27,305.34 | $14,381.52 | $12,923.82 | $214,184.37 |
| Year 20 | $27,305.34 | $13,515.98 | $13,789.35 | $200,395.02 |
| Year 21 | $27,305.34 | $12,592.49 | $14,712.85 | $185,682.16 |
| Year 22 | $27,305.34 | $11,607.14 | $15,698.20 | $169,983.96 |
| Year 23 | $27,305.34 | $10,555.80 | $16,749.54 | $153,234.43 |
| Year 24 | $27,305.34 | $9,434.05 | $17,871.29 | $135,363.14 |
| Year 25 | $27,305.34 | $8,237.18 | $19,068.16 | $116,294.98 |
| Year 26 | $27,305.34 | $6,960.15 | $20,345.19 | $95,949.80 |
| Year 27 | $27,305.34 | $5,597.60 | $21,707.74 | $74,242.05 |
| Year 28 | $27,305.34 | $4,143.79 | $23,161.55 | $51,080.50 |
| Year 29 | $27,305.34 | $2,592.62 | $24,712.72 | $26,367.78 |
| Year 30 | $27,305.34 | $937.56 | $26,367.78 | $0.00 |
Explain my numbers in plain English
Sends only the numbers shown above (and your question) to an AI model via Vercel AI Gateway. Nothing is stored. It's a plain-language read, not financial advice.
Reading a mortgage payment
Lenders talk about PITI: principal, interest, taxes and insurance. Principal and interest are set by the amortization formula and never change on a fixed-rate loan. Taxes and insurance are usually collected monthly into an escrow account and paid on your behalf, so they rise when your county reassesses or your premium goes up.
With under 20% down on a conventional loan you'll also pay private mortgage insurance, which protects the lender, not you. Under the Homeowners Protection Act it ends automatically when the balance is scheduled to reach 78% of the original value, and you can ask for removal at 80%.
In the early years, most of each payment is interest. On a 30-year loan at 6.5%, the first payment is around 80% interest. Drag the chart to the halfway point and you'll see the balance is still well above half the loan. Paying extra early has the biggest effect; try it on the loan payoff calculator or the biweekly mortgage calculator.
Questions people ask
What does a mortgage payment include?
Usually four parts, often shortened to PITI: principal, interest, property taxes and homeowners insurance. Many loans add private mortgage insurance (PMI) when you put down less than 20%, and some homes carry HOA dues. The breakdown above shows each part.
When does PMI come off?
On a conventional loan, the Homeowners Protection Act lets you request PMI removal once the balance reaches 80% of the original home value, and it must end automatically at 78%. FHA mortgage insurance follows different rules. This calculator drops PMI at 78%.
Is a 15-year or a 30-year mortgage better?
A 15-year loan usually has a lower rate and costs far less interest but has a much higher payment. A 30-year loan keeps the payment lower and flexible. Toggle the term to compare; you can also take a 30-year loan and pay extra when you can.
How much should I put down on a house?
Twenty percent avoids PMI on a conventional loan, but many buyers put down 3–10%. A smaller down payment means a larger loan, more interest and PMI; weigh that against keeping cash for reserves and repairs.
How accurate is this mortgage payment calculator?
Principal and interest are exact for a fixed-rate loan. Taxes, insurance and PMI are estimates from the rates you enter. Your Loan Estimate from the lender shows the real figures, including escrow.