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Mortgage Calculator

Full monthly mortgage cost including principal, interest, property tax, home insurance, PMI and HOA fees.

Enter values

Results update as you type.

Result

Total monthly payment

$2,514.28

Principal & interest
$2,022.62
Property tax
$366.67
Insurance
$125.00
PMI
$0.00
Not required (20%+ down)
HOA
$0.00
Loan amount
$320,000.00
Total interest
$408,142.36

Amortization schedule (yearly)

PeriodPrincipal paidInterest paidBalance
Year 13,576.7220,694.69316,423.28
Year 23,816.2620,455.15312,607.02
Year 34,071.8420,199.57308,535.17
Year 44,344.5419,926.87304,190.63
Year 54,635.519,635.91299,555.13
Year 64,945.9519,325.46294,609.18
Year 75,277.1918,994.22289,331.98
Year 85,630.6218,640.8283,701.37
Year 96,007.7118,263.7277,693.66
Year 106,410.0617,861.36271,283.6
Year 116,839.3517,432.06264,444.26
Year 127,297.3916,974.02257,146.86
Year 137,786.1116,485.3249,360.75
Year 148,307.5615,963.85241,053.19
Year 158,863.9415,407.48232,189.25
Year 169,457.5714,813.84222,731.68
Year 1710,090.9614,180.45212,640.72
Year 1810,766.7713,504.64201,873.95
Year 1911,487.8412,783.57190,386.11
Year 2012,257.212,014.21178,128.9
Year 2113,078.0911,193.32165,050.81
Year 2213,953.9610,317.46151,096.86
Year 2314,888.489,382.93136,208.38
Year 2415,885.598,385.83120,322.79
Year 2516,949.477,321.94103,373.32
Year 2618,084.616,186.885,288.71
Year 2719,295.774,975.6465,992.94
Year 2820,588.053,683.3745,404.89
Year 2921,966.862,304.5523,438.03
Year 3023,438.03833.390

Estimates only. Taxes, insurance and PMI vary by location and lender.

About the Mortgage Calculator

A mortgage payment is more than principal and interest. This calculator adds property tax, homeowners insurance, private mortgage insurance (when the down payment is under 20%) and HOA dues to show your real monthly housing cost.

Also known as: mortgage calculator with taxes and insurance, piti calculator, house payment calculator, mortgage emi.

How to use this calculator

  1. Enter home price, down payment, interest rate, term and the other fields.
  2. The result updates instantly as you type — press Calculate (or Enter) at any time.
  3. Review the breakdown shown under the main result.
  4. Use Copy result or Share to save the answer or send a link with your inputs.

Formula

Monthly = P&I + tax/12 + insurance/12 + PMI + HOA

Worked example

Using the values pre-filled in the calculator above:

  • Home price = 400,000
  • Down payment = 20 %
  • Interest rate = 6.5 %
  • Term = 30 years
  • Property tax (annual, % of price) = 1.1 %
  • Home insurance (annual) = 1,500
  • PMI (annual, % of loan) = 0.5 %
  • HOA (monthly) = 0

the calculator returns:

  • Total monthly payment: 2,514.28
  • Principal & interest: 2,022.62
  • Property tax: 366.67
  • Insurance: 125

Frequently asked questions

How can I avoid PMI?

Put at least 20% down, or request cancellation once your loan balance falls to 80% of the home’s original value.

How is the monthly payment calculated?

With the standard amortization (EMI) formula M = P·r·(1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12) and n the number of monthly payments.

Why is most of the early payment interest?

Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, more of each fixed payment goes to principal.