United States · updated weekly
Calculate your monthly mortgage payment in seconds — principal, interest, property tax, insurance, HOA and PMI all included. Enter your home price, down payment, loan term and rate, then get concrete moves that change the number, priced from your own figures.
Total monthly payment
$3,090 /mo
$2,192 principal & interest plus $898 taxes, insurance and fees
A dated roadmap from these numbers — on screen or as a 2-page PDF.
Closing costs are a rough 2% of price. Actual legal fees, inspections and title costs vary by state.
2026
86% interest
$22,635 of interest against $3,665 off the balance.
2046
The balance tips
Year 21: equity overtakes interest, $13,918 to $12,382.
2055
Almost all yours
Interest down to $929, with $425,000 of equity built.
Lifetime
$449K
Total interest on this loan. A shorter term or bigger payments move it — priced below.
Hover or focus the chart and use the arrow keys to read any single year; every figure is also in the payment schedule.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 2026 year 1 | $3,665 | $22,635 | $336,335 |
| 2027 year 2 | $3,918 | $22,382 | $332,417 |
| 2028 year 3 | $4,188 | $22,112 | $328,228 |
| 2029 year 4 | $4,477 | $21,823 | $323,751 |
| 2030 year 5 | $4,786 | $21,514 | $318,964 |
| 2031 year 6 | $5,117 | $21,184 | $313,848 |
| 2032 year 7 | $5,470 | $20,831 | $308,378 |
| 2033 year 8 | $5,847 | $20,453 | $302,531 |
| 2034 year 9 | $6,250 | $20,050 | $296,281 |
| 2035 year 10 | $6,681 | $19,619 | $289,599 |
Built from your numbers — every one of these is this same calculation with a single input changed. Tap to try it; nothing is saved until you change it yourself.
Adding $548 to every payment pays this off 12 yrs 4 mos early and saves $208.9K in interest.
Same loan, same rate — the extra goes straight at the principal.
Paying half your monthly amount every two weeks is one extra monthly payment a year: 6 years off the term and $106.2K less interest.
26 payments of $1,096 instead of 12 of $2,192 — budget-neutral if you are paid every two weeks.
A 20-year term raises your payment by $381/mo but cuts total interest by $171.5K.
Paid off in Oct 2046 instead of Oct 2056.
At 6.19% your payment falls $112/mo and you pay $40.1K less interest overall.
That is the threshold where refinancing usually starts to pay for itself.
The point of all this
A dated roadmap built from your scenario and the moves worth making — on screen, as a two-page PDF, and saved so you can pick it up later.
The calculated moves below are always exact. This adds a prioritised, plain-language take on what your particular scenario calls for — written from the figures this calculator produced, not from figures the model made up.
Run the same numbers somewhere else. Principal & interest should match to within a dollar or two; totals can differ because tools make different assumptions about PMI and whether HOA fees are included.
Same monthly math. Small differences come from rounding and from how each tool estimates PMI.
Loan-focused, so it may exclude HOA fees from the monthly total.
Official rate ranges by credit score and location — a good sanity check on the rate itself.
Nothing is hidden behind a default. Tax, insurance, HOA, credit band, payment frequency and extra payments are all on the surface and all editable.
Pick your state and the property tax rate and insurance average fill in — a New Jersey payment and a Hawaii payment should not start from the same guess.
Priced off your credit band and loan-to-value, then dropped from the schedule at the month you hit 20% equity — with the automatic 22% termination date shown too.
We link straight to Bankrate, Fannie Mae and the CFPB, and explain why totals differ. A number you can verify is a number you can act on.
Use the standard mortgage payment formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, n is the total number of monthly payments, and r is the annual interest rate divided by 12. That gives your principal and interest. To get the full monthly mortgage payment, add property tax, homeowners insurance, any HOA fee, and — if your down payment is below 20% — private mortgage insurance (PMI). This calculator runs all five components and shows them as separate line items.
Private mortgage insurance protects the lender when you borrow more than 80% of the home value. It typically costs 0.3% to 1.5% of the loan a year, priced off your credit score and loan-to-value, and it is added to your monthly payment. You avoid it by putting 20% down. If you already have it, you can ask for removal once you reach 20% equity, and the servicer must drop it automatically at 22%.
Lenders usually collect property tax and homeowners insurance with the mortgage payment and hold them in escrow. That is why the number that matters is the total: principal, interest, tax, insurance, HOA fees and mortgage insurance. This calculator shows all of them as separate segments so you can see what is actually driving the cost.
A 15-year term costs more each month but far less overall, because you pay interest for half as long. Rather than guess, use the "Drop to 15 years" suggestion — it prices both from your own numbers and shows the monthly increase alongside the lifetime interest saved.
A standard guideline: keep total housing costs (principal, interest, taxes, insurance, HOA) under 28% of gross monthly income, and keep all monthly debt including the mortgage under 36%. To estimate how much home you can afford, start with your comfortable monthly payment and work backwards — adjust the home price here until the total fits. For a full income-first calculation using your salary and debts, use the <a href="/tools/affordability">mortgage affordability calculator</a>.
Yes — every extra dollar goes straight at the principal and eliminates all the future interest that dollar would have carried. On a $400,000, 7%, 30-year mortgage, adding just $200/month extra saves roughly $75,000 in interest and cuts about 5 years off the term. The suggestion panel calculates the exact effect for your specific loan. For a full side-by-side amortization comparison, use the <a href="/tools/extra-payment-impact">extra payment impact calculator</a>.