Calculator
Mortgage Calculator
Use this calculator to estimate a home loan payment. Enter the home price, down payment, interest rate, and term, then add property tax, homeowners insurance, and HOA dues for a fuller monthly picture.
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 |
These calculators and articles are for informational purposes only and should not be considered financial, investment, tax, legal, or professional advice.
How this calculation works
The loan amount is the home price minus the down payment. Principal and interest use the standard fully amortizing payment formula with monthly compounding of the annual rate. If the interest rate is 0%, the payment is the loan amount divided by the number of months.
Property tax and homeowners insurance are entered as annual amounts and divided by 12. HOA dues are treated as a monthly amount. Those extras are added to principal and interest to estimate a total monthly housing payment. They are not part of the amortization math.
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 are about $2,023 per month. $4,800 in annual tax and $1,800 in annual insurance add $550. With no HOA fee, the estimated total monthly payment is about $2,573.
Over 30 years, most of the early payments go to interest. The yearly table shows how that mix shifts toward principal later in the term.
Frequently asked questions
Does this mortgage calculator include taxes and insurance?
Yes. You can enter annual property tax and homeowners insurance, plus a monthly HOA fee. Principal and interest are shown separately from those amounts.
Are the results a loan offer?
No. Lenders use credit, income, debt, property details, and underwriting rules. This tool only estimates a payment from the numbers you type.
Why is my payment different from a lender’s quote?
Quotes may include mortgage insurance, different tax escrows, points, or a different rate. Local taxes and insurance also change. Use a written loan estimate for decisions.
Can I model extra payments?
This version shows a standard amortizing schedule without extra principal. Paying extra would reduce total interest and shorten the term.
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