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Mortgage Calculator

Calculate your monthly payment, total interest, and full amortization schedule.

Loan Details

Home Price

$

Down Payment

$ 20%

Loan Term

Interest Rate (Annual)

%

PMI (if down < 20%)

/mo

Property Tax (Annual)

$

Home Insurance (Annual)

$

Monthly P&I

-

Total Monthly

-

Total Interest

-

Total Cost

-

Payment Breakdown

Principal & Interest

Property Tax

Insurance

PMI

Amortization Schedule

Year	Principal	Interest	Balance

How It Works

Your monthly P&I is calculated using the standard amortization formula:

M = P × [r(1+r)^n] / [(1+r)^n − 1]

P = Loan principal
r = Monthly interest rate
n = Number of payments

Tips to Save

20% down payment avoids PMI
A 15-year term saves significant interest
Each 0.5% rate drop saves thousands over the life of the loan
Extra monthly payments reduce your principal faster

More Financial

→ Loan Calculator
→ Investment Calculator
→ Compound Interest

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