Mortgage Calculator
Estimate your full monthly payment including taxes, insurance, PMI, and HOA — plus total interest and an amortization schedule.
Your details
Ownership costs
This calculator runs entirely on your device. Nothing you enter is uploaded, stored, or sold. How this works
Estimated monthly payment
$2,837.94
$2,275.44 principal & interest
Includes your inputs, the full breakdown, and every row of the table.
Loan amount
$360,000
$90,000 down (20.0%)
Total interest
$459,160
Payoff time
30 yrs
Total of all payments
$819,160
- Principal & interest
- $2,275.44
- Property tax
- $412.50
- Home insurance
- $150.00
- Total monthly payment
- $2,837.94
| Year | Interest paid | Principal paid | Ending balance |
|---|---|---|---|
| 1 | $23,282 | $4,024 | $355,976 |
| 2 | $23,012 | $4,293 | $351,683 |
| 3 | $22,725 | $4,581 | $347,102 |
| 4 | $22,418 | $4,888 | $342,214 |
| 5 | $22,090 | $5,215 | $337,000 |
| 6 | $21,741 | $5,564 | $331,435 |
| 7 | $21,368 | $5,937 | $325,498 |
| 8 | $20,971 | $6,334 | $319,164 |
| 9 | $20,547 | $6,759 | $312,405 |
| 10 | $20,094 | $7,211 | $305,194 |
What this means
- Add an extra monthly principal payment to see how much interest you would save.
- No PMI is included because the down payment is 20% or more.
How the mortgage calculation works
A mortgage payment is rarely just principal and interest. Lenders escrow property taxes and homeowners insurance, add private mortgage insurance when the down payment is under 20%, and any HOA dues land on top of that. This calculator rolls all of it into one number so the figure you budget around is the figure that actually leaves your account.
The amortization schedule shows why the early years feel slow: at a 6.5% rate, roughly three quarters of your first payment is interest. Every dollar of extra principal skips all the future interest that dollar would have accrued, which is why even a small recurring extra payment can cut years off the loan.
Frequently asked questions
What is included in PITI?
PITI stands for principal, interest, taxes, and insurance — the four components lenders use when qualifying you. PMI and HOA dues are added separately but count toward your debt-to-income ratio just the same.
How much house can I afford with this payment?
Most lenders want your total housing payment under 28% of gross monthly income and all debt payments under 43%. Use the home affordability calculator to work backwards from your income.
Should I choose a 15-year or 30-year mortgage?
A 15-year loan carries a lower rate and dramatically less total interest, but the payment is roughly 45-50% higher. Compare both terms above; if the 15-year payment is uncomfortable, a 30-year with voluntary extra payments gives you similar savings with more flexibility.
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Disclaimer. This calculator is provided for general information and educational purposes only and does not constitute financial, tax, legal, medical, or engineering advice. Results are estimates based on the inputs you provide and the assumptions described above. Confirm any figure with a qualified professional before acting on it.