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Home loans

Mortgage Calculator

Model your monthly payment in real time and watch your loan amortize across its full term — principal, interest, taxes, insurance, and PMI.

InputsMTG-30Y
$
$
%
%
Property tax Annual, % of value
%
Home insurance Annual premium
$
HOA dues Monthly
$
Monthly payment80% LTV
$2,714/mo
principal + interest$2,179
property tax$385
home insurance$150
PMI$0
HOA dues$0
loan amount
$336,000
total interest
$448,544
payoff
2056
Loan balance over time
Remaining balance Interest paid
$0$121k$242k$363k$484k2026203620462056

How your mortgage payment is calculated

A fixed-rate payment blends principal (the balance you pay down) and interest (the cost of borrowing) into one level amount using the standard amortization formula — the split shifts over time, but the payment stays the same. Early on, most of it goes to interest; the chart above shows exactly when the crossover happens.

M = P · [ r(1 + r)ⁿ ] / [ (1 + r)ⁿ − 1 ]

P is the loan amount, r the monthly rate (annual ÷ 12), and n the number of payments (years × 12). The full figure adds property tax, insurance, PMI, and HOA on top — together, your PITI. Under 20% down, PMI is added automatically until you reach 20% equity.

Common questions

How much should my down payment be?
20% skips PMI and lowers your payment, but many loans allow 3–5% down. Adjust the amount above to watch PMI and your payment change in real time.
What's included in PITI?
Principal, Interest, Taxes, and Insurance — the four parts of a typical payment. Lenders weigh your full PITI plus HOA when sizing your loan.
Does a shorter term save money?
A 15-year loan means a higher monthly payment but far less total interest. Switch the term to compare payoff year and total interest instantly.
When does PMI go away?
At 20% equity you can usually request removal; it drops automatically at 22% equity under federal rules.

How we calculate this

Payments use the standard fixed-rate amortization formula; the chart is computed month by month. PMI is estimated at 0.75% of the loan annually below 20% down. Figures are planning estimates, not a loan offer — this is not financial advice.

Full methodology & sources →
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Estimates are for general informational purposes only and do not constitute financial, tax, or lending advice. Actual rates, taxes, insurance, and payments vary by lender and location. Ticker market data is delayed and for context only. Consult a licensed professional before making decisions.