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Mortgage Calculator

Estimate your full monthly mortgage payment — principal, interest, property tax, home insurance, PMI, and HOA (PITI) — plus total interest and a complete amortization schedule.

Your details

Total monthly payment
$2,672.62
Principal & interest
$2,022.62
Property tax / mo
$500.00
Insurance / mo
$150.00
Total interest paid
$408,142.36
Total of P&I payments
$728,142.36

Monthly payment breakdown

$2.7KTotal
Principal & interest
$2,022.6276%
Property tax
$500.0019%
Home insurance
$150.006%

Amortization schedule

YearPrincipalInterestBalance
1$307.00$1,715.62$316,423.28
2$327.56$1,695.06$312,607.02
3$349.49$1,673.13$308,535.17
4$372.90$1,649.72$304,190.63
5$397.87$1,624.75$299,555.13
6$424.52$1,598.10$294,609.18
7$452.95$1,569.67$289,331.98
8$483.28$1,539.33$283,701.37
9$515.65$1,506.97$277,693.66
10$550.18$1,472.43$271,283.60
11$587.03$1,435.59$264,444.26
12$626.35$1,396.27$257,146.86
13$668.29$1,354.32$249,360.75
14$713.05$1,309.57$241,053.19
15$760.80$1,261.81$232,189.25
16$811.76$1,210.86$222,731.68
17$866.12$1,156.50$212,640.72
18$924.13$1,098.49$201,873.95
19$986.02$1,036.60$190,386.11
20$1,052.05$970.56$178,128.90
21$1,122.51$900.11$165,050.81
22$1,197.69$824.93$151,096.86
23$1,277.90$744.72$136,208.38
24$1,363.48$659.13$120,322.79
25$1,454.80$567.82$103,373.32
26$1,552.23$470.39$85,288.71
27$1,656.18$366.43$65,992.94
28$1,767.10$255.51$45,404.89
29$1,885.45$137.17$23,438.03
30$2,011.72$10.90$0.00
Total monthly payment$2,672.62

Formula

Principal & interest M = P·r(1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate, and n the number of monthly payments. Monthly tax and insurance are the annual amounts divided by 12; PMI and HOA are added directly.

Frequently asked questions

Does this include taxes and insurance?⌄

Yes. The total monthly payment adds property tax, home insurance, PMI, and HOA dues to principal and interest. Leave a field at 0 to exclude it.

How is total interest calculated?⌄

By summing the interest portion of every scheduled monthly payment across the full amortization of principal and interest.

When do I need PMI?⌄

Lenders typically require private mortgage insurance when your down payment is under 20% of the home price. It usually drops off once you reach 20% equity.

Sources & methodology

Standard fixed-rate amortization plus PITI: property tax, home insurance, PMI, and HOA. Estimates only — actual escrow amounts vary by lender and location.

Last updated: 2026-07-20

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By state

State-specific versions with local tax rates prefilled.

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Learn more

APR vs Interest Rate: What's the Difference?APR vs interest rate explained: what each measures, why APR is usually higher, and how to compare loan offers correctly.How Much House Can You Afford?How to work out your real home budget from income, debts, down payment, and full PITI — the way lenders actually decide.How PMI Works and How to Avoid ItPMI explained: when private mortgage insurance is required, typical rates, how it is calculated, and how to remove or avoid it.How Property Taxes Work (Assessed Value & Mill Rate)Property tax explained: how assessed value and the mill rate set your bill, why it differs from market value, and how exemptions and appeals lower it.Renting vs Buying a HomeRenting vs buying: the true costs of ownership, why the five-year rule matters, the break-even point, and the opportunity cost of a down payment.Should You Pay Off Your Mortgage Early?When paying off your mortgage early makes sense, how extra and biweekly payments work, and when to invest instead.Understanding Mortgage PointsHow mortgage discount points work, what one point costs, the break-even calculation, and when buying down your rate is worth it.Understanding Your Mortgage Payment (PITI)PITI explained: principal, interest, taxes, and insurance. Learn what makes up a monthly mortgage payment and why the rate is only part of it.What Is Loan-to-Value (LTV) and Why It MattersLoan-to-value explained: how LTV is calculated, the 80% threshold that avoids PMI, and how a lower LTV earns better mortgage rates.What Is an Escrow Account (Mortgage Escrow)Mortgage escrow explained: how lenders collect property tax and insurance monthly, the annual escrow analysis, shortages, and when escrow is required.When Does Refinancing Your Mortgage Make Sense?How to decide if refinancing is worth it: the break-even test, good reasons to refinance, and the costs involved.
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