Calculator 01
Mortgage Payment Calculator
Every part of the monthly payment, itemised and recalculated as you type. Illustrative figures only — nothing here is a quote.
Each band is also labelled on the chart itself, so the reading never depends on telling two colours apart.
The year the two lines cross is the year more of your payment starts going to the balance than to the lender.
Estimated monthly payment
$3,429
Illustrative estimate, not a quote or an offer.
- Principal & interest$2,418 71%
- Property tax$600 17%
- Homeowners insurance$175 5%
- HOA dues$45 1%
- Mortgage insurance (PMI)$191 6%
- Loan amount$382,500
- Down payment$67,500
- Loan-to-value85%
- Total interest$487,858
- Total of payments$870,358
- Paid off in30 yrs
Lifetime figures cover principal and interest only — tax, insurance, HOA and PMI are not fixed for the life of the loan, so adding them up for 30 years would be inventing precision that does not exist.
| Month | Payment | Principal | Interest | Interest to date | Balance |
|---|---|---|---|---|---|
| 1 | $2,418 | $346 | $2,072 | $2,072 | $382,154 |
| 2 | $2,418 | $348 | $2,070 | $4,142 | $381,807 |
| 3 | $2,418 | $350 | $2,068 | $6,210 | $381,457 |
| 4 | $2,418 | $351 | $2,066 | $8,276 | $381,106 |
| 5 | $2,418 | $353 | $2,064 | $10,341 | $380,752 |
| 6 | $2,418 | $355 | $2,062 | $12,403 | $380,397 |
| 7 | $2,418 | $357 | $2,060 | $14,463 | $380,040 |
| 8 | $2,418 | $359 | $2,059 | $16,522 | $379,681 |
| 9 | $2,418 | $361 | $2,057 | $18,579 | $379,320 |
| 10 | $2,418 | $363 | $2,055 | $20,633 | $378,957 |
| 11 | $2,418 | $365 | $2,053 | $22,686 | $378,592 |
| 12 | $2,418 | $367 | $2,051 | $24,737 | $378,225 |
| 13 | $2,418 | $369 | $2,049 | $26,785 | $377,856 |
| 14 | $2,418 | $371 | $2,047 | $28,832 | $377,485 |
| 15 | $2,418 | $373 | $2,045 | $30,877 | $377,112 |
| 16 | $2,418 | $375 | $2,043 | $32,919 | $376,737 |
| 17 | $2,418 | $377 | $2,041 | $34,960 | $376,360 |
| 18 | $2,418 | $379 | $2,039 | $36,999 | $375,981 |
| 19 | $2,418 | $381 | $2,037 | $39,035 | $375,600 |
| 20 | $2,418 | $383 | $2,034 | $41,070 | $375,217 |
| 21 | $2,418 | $385 | $2,032 | $43,102 | $374,831 |
| 22 | $2,418 | $387 | $2,030 | $45,133 | $374,444 |
| 23 | $2,418 | $389 | $2,028 | $47,161 | $374,055 |
| 24 | $2,418 | $392 | $2,026 | $49,187 | $373,663 |
Payments 1–24 of 360
Illustrative figures. Every number on this page — including the rates in the default values — is an illustration produced from the inputs above. Nothing here is a quote, a rate lock, an APR, a Loan Estimate or an offer of credit.
What this page assumes. A fixed rate for the full term, taxes and insurance escrowed at the rates you enter, PMI charged only while the loan is above 80% of the price, and no change to any of it over time. Real payments move when assessments, premiums and HOA dues move.
This calculator provides estimates for educational purposes only. Results are not a Loan Estimate, pre-approval, or commitment to lend, and may not reflect taxes, insurance, HOA dues, or other costs. Contact a loan officer for an accurate quote.
Rates shown are for illustrative purposes only, are not a quote or guarantee, and do not reflect a specific offer. Actual rates depend on credit score, loan amount, loan-to-value, occupancy, and other factors, and change daily. Contact us for a personalized rate quote.
Your inputs live in this page’s web address. Copy the link and whoever opens it lands on exactly these numbers — no account, no saved data, nothing tracked.
Have a loan officer look at these numbers
A calculator can only work with what you type. If you would like a person to sanity-check the assumptions, this is the form a real site would use.
What actually makes up the payment
Principal & interest
The only part your lender fixes. It is the amortised payment on the loan amount at your rate and term, and it does not change on a fixed-rate mortgage. Early on it is mostly interest; the chart above shows when that flips.
Property tax
Collected monthly into escrow and paid to your county. It is a percentage of assessed value, so it rises as assessments rise — it is the line most likely to make a "fixed" payment move.
Homeowners insurance
Required by every lender and also escrowed. Premiums vary with location, construction, roof age and coverage, and they are renegotiated annually.
PMI
Applied here only while the loan is above 80% of the price. It is not wasted money if it lets you buy sooner, but it is worth knowing exactly what it costs — which is why it is on its own line.
HOA dues
Paid to the association, not the lender, but underwriters count them against your income all the same. Set it to zero if the property has none.
The other calculators
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- RefinanceRefinance & Break-Even CalculatorNew rate against costs, and the month it pays itself back.
- Extra paymentsExtra Payment CalculatorOne-off and recurring overpayments, interest saved, months removed.
- Rent vs buyRent vs Buy CalculatorOver a holding period, with every assumption on the page.
Calculator FAQ
Questions about monthly payments
What does this mortgage calculator estimate?
It estimates a full monthly housing payment: principal and interest, property tax, homeowners insurance, HOA dues, and PMI when the down payment is under 20%. Each part is itemised rather than rolled into one number, because the parts behave very differently — only principal and interest are fixed by your loan.
What is PMI and when do I pay it?
Private Mortgage Insurance is generally required on conventional loans when the down payment is less than 20% of the price. It typically runs between about 0.5% and 1.5% of the loan per year, it protects the lender rather than you, and it comes off once you reach roughly 20% equity. Move the down payment slider past 20% and you will see the PMI line disappear.
Does the calculator account for property taxes and insurance?
Yes, and you control both. The property tax field is a percentage of the home value per year, and the insurance field is dollars per year. Both vary enormously by county and by property, so treat the defaults as a starting point and replace them with the real numbers for the address you are looking at.
How accurate is it?
The principal-and-interest maths is exact — it is the standard amortisation formula every lender uses. Everything else is only as good as the assumptions you type in. Your actual payment depends on the loan program, your credit profile, the appraised value, the county assessor, your insurer, and the fees on your specific file. This is an educational estimate, not a Loan Estimate.
Should I choose a 15-year or a 30-year term?
A 30-year term keeps the monthly payment lower and leaves more room in your budget. A 15-year term costs noticeably more each month but builds equity far faster and cuts total interest substantially. Switch the term buttons and watch both the monthly figure and the lifetime interest change — the trade-off is easier to judge with the two numbers side by side.
Why does my payment barely touch the balance in the early years?
Interest is charged on the balance you still owe, so at the start almost all of it goes to interest. The chart on this page shows the crossover point where more of each payment starts going to principal. The extra payment calculator shows how much sooner that happens if you pay a little more each month.
Want these numbers checked by a person?
A loan officer can tell you which of these assumptions is wrong for your situation — usually the tax rate.