Mortgage Calculator
Estimate your monthly payment including principal, interest, taxes, insurance and PMI — with a full amortization schedule.
- Principal & interest–
- Property tax–
- Home insurance–
- PMI–
- HOA–
- Loan amount–
- Total interest paid–
- Total cost of loan–
Amortization schedule (yearly)
| Year | Principal paid | Interest paid | Remaining balance |
|---|
How the monthly payment is calculated
P = loan amount, r = monthly interest rate, n = number of monthly payments
Taxes, insurance, PMI and HOA are added on top of this principal-and-interest payment to estimate your full monthly housing cost.
Private Mortgage Insurance is typically required by lenders when your down payment is below 20% of the home price. It protects the lender, not you, and can usually be removed once you reach 20% equity.
Interest is charged on the remaining balance, which is highest at the start of the loan. As the balance shrinks, more of each fixed payment goes toward principal — this is why the amortization schedule shows interest dropping and principal rising over time.
No. Closing costs (loan origination, title, appraisal, etc.) are typically paid upfront and are not part of the recurring monthly payment estimated here.
Estimates only — actual loan terms, taxes and insurance vary by lender and location. See our Terms of Use.