FinancialCalculatorsFree financial planning tools
home / financial / mortgage calculator

Mortgage Calculator

Estimate mortgage payments, ownership costs, and the effect of extra payments.

Calculate monthly payments, annual expenses, and dated extra principal payments.

$
years
months
%
More options (22)
years
%
%
%
%
$
$
$
monthEnter a whole payment month: 1 is the first scheduled payment. An extra payment after payoff has no effect.
Payment month counted from the first scheduled payment; repeats every 12 months.
Optional: month number, amount; one payment per line.

Result

Monthly principal & interest$1,918.56
Initial monthly total$2,443.56
Down payment$80,000.00
Financed loan amount$320,000.00
Upfront fee$0.00
Total interest$370,682.20
Total payments$690,682.20
Number of payments360
Total taxes and other costs$189,000.00
Total out of pocket$959,682.20
  • Principal
  • Interest

Your initial modeled monthly outlay is $2,443.56, including the entered ownership costs and extra principal. The principal-and-interest payment alone is $1,918.56; ownership costs may change later.

Each tax and cost grows annually at its own rate. Conventional PMI follows the selected duration or original-value LTV policy. FHA MIP uses the base loan and explicit MIP duration; property appreciation is not used for cancellation.

Calculation details

Scroll horizontally or vertically to see more. Download CSV for the complete schedule.

MonthDatePaymentInterestPrincipalBalanceTaxes & costsTotal
12026-101,918.561,600318.56319,681.445252,443.56
22026-111,918.561,598.41320.15319,361.285252,443.56
32026-121,918.561,596.81321.76319,039.535252,443.56
42027-011,918.561,595.20323.36318,716.165252,443.56
52027-021,918.561,593.58324.98318,391.185252,443.56
62027-031,918.561,591.96326.61318,064.585252,443.56
72027-041,918.561,590.32328.24317,736.345252,443.56
82027-051,918.561,588.68329.88317,406.465252,443.56
92027-061,918.561,587.03331.53317,074.935252,443.56
102027-071,918.561,585.37333.19316,741.745252,443.56
112027-081,918.561,583.71334.85316,406.895252,443.56
122027-091,918.561,582.03336.53316,070.365252,443.56
132027-101,918.561,580.35338.21315,732.155252,443.56
142027-111,918.561,578.66339.90315,392.255252,443.56
152027-121,918.561,576.96341.60315,050.655252,443.56
162028-011,918.561,575.25343.31314,707.345252,443.56
172028-021,918.561,573.54345.02314,362.325252,443.56
182028-031,918.561,571.81346.75314,015.575252,443.56
192028-041,918.561,570.08348.48313,667.085252,443.56
202028-051,918.561,568.34350.23313,316.865252,443.56
212028-061,918.561,566.58351.98312,964.885252,443.56
222028-071,918.561,564.82353.74312,611.145252,443.56
232028-081,918.561,563.06355.51312,255.645252,443.56
242028-091,918.561,561.28357.28311,898.355252,443.56
252028-101,918.561,559.49359.07311,539.285252,443.56
262028-111,918.561,557.70360.87311,178.425252,443.56
272028-121,918.561,555.89362.67310,815.755252,443.56
282029-011,918.561,554.08364.48310,451.275252,443.56
292029-021,918.561,552.26366.31310,084.965252,443.56
302029-031,918.561,550.42368.14309,716.825252,443.56
312029-041,918.561,548.58369.98309,346.855252,443.56
322029-051,918.561,546.73371.83308,975.025252,443.56
332029-061,918.561,544.88373.69308,601.335252,443.56
342029-071,918.561,543.01375.56308,225.785252,443.56
352029-081,918.561,541.13377.43307,848.345252,443.56
362029-091,918.561,539.24379.32307,469.025252,443.56

How to use this calculator

Calculate monthly payments, annual expenses, and dated extra principal payments. Enter amounts in the units shown, select the applicable options, and click Calculate. Use Reset to restore the starting values.

Calculation formula

Payment = P × i / (1 − (1+i)^−N), with a period-by-period balance schedule.

Assumptions and accuracy

Review timing, rates, fees and result notes when comparing scenarios. Future returns and rates are assumptions rather than guaranteed outcomes. Monetary display follows the currency’s precision; intermediate calculations retain additional digits.

Choose what to calculate

Mortgage calculator with taxes and insurance

Estimate principal and interest alongside property tax, homeowners insurance and other entered ownership costs. These costs can change independently of the loan payment.

Related searches: Mortgage calculator with pmi · Mortgage calculator with down payment · Mortgage principal and interest calculator

Open this calculation

Biweekly mortgage calculator

Compare monthly mortgage payments with half a monthly payment every two weeks under the stated interest assumptions. This is not the same as two payments per month.

Open this calculation

Understanding this calculation

A mortgage payment estimate separates loan principal and interest from taxes, insurance and other ownership costs. Use the initial total for starting cash flow and the schedule for later changes.

Reading your result

Monthly principal & interest
The scheduled loan payment before taxes, insurance and entered ownership costs.
Initial monthly total
The first modeled payment including initial ownership costs and applicable extra principal; later costs may grow.
Total interest
Interest paid over the modeled loan, excluding property taxes and insurance.

Compare two scenarios

  1. Hold home price and loan term fixed; change only the down payment to compare financing needs.
  2. Then compare interest rates while leaving taxes, insurance and fees unchanged.

Check before comparing

  • Enter annual taxes and insurance with the matching dollar or percentage unit.
  • Do not compare a principal-and-interest payment with another quote that includes escrow.
  • Paying off a mortgage does not remove property taxes, insurance or maintenance.

Result explanations checked against this calculator’s local model. Model scope and sources appear below.

Worked examples

Separate loan payment from ownership costs

Home price $125,000; 20% down; 30 years; 6% annual rate; all entered ownership costs and extra payments set to zero.

  1. Down payment = 125000 × 20% = 25000.
  2. Loan principal = 125000 − 25000 = 100000.
  3. At 6% nominal annual interest and 360 monthly payments, principal and interest is $599.55.

Monthly principal and interest is $599.55. Add the property’s actual taxes, insurance and fees to estimate total housing cash flow.

Try these inputs

Add annual taxes and insurance to principal and interest

Home price $125,000; 20% down; 30-year loan at 6%; annual property tax $1,200 and insurance $600; other costs and extras zero.

  1. Loan amount = 125000 − 25000 = 100000.
  2. Principal and interest = $599.5505251527524 per month.
  3. Monthly tax and insurance = (1200 + 600) ÷ 12 = 150.

The initial monthly total is $749.55; the loan payment alone remains $599.55.

Try these inputs

Common questions

Does a larger down payment reduce the loan?

Yes. Holding the home price and other financing inputs constant, a larger down payment lowers the amount financed. It can also affect mortgage insurance eligibility.

Are loan-year tables calendar-year tax records?

No. The yearly summary groups payments from the start of the loan and preserves each group’s closing balance. It is not a calendar-year tax statement.

Scope and assumptions

This example isolates principal and interest. Actual escrow, PMI/MIP, fees and cancellation rules depend on the selected assumptions and loan program. It is a planning estimate rather than a lender quote.

Sources

Calculation notes checked . Examples are mathematical checks under the stated assumptions.

Calculation methods and formulas

Monthly Mortgage

Calculate monthly payments, annual expenses, and dated extra principal payments.

Payment = P × i / (1 − (1+i)^−N), with a period-by-period balance schedule.

Biweekly Comparison

Calculate monthly payments, annual expenses, and dated extra principal payments.

Payment = P × i / (1 − (1+i)^−N), with a period-by-period balance schedule.

See our calculation methodology and review status for data versions, rounding and validation limitations.

Related calculators

Amortization CalculatorMortgage Payoff CalculatorHouse Affordability CalculatorRefinance CalculatorAPR CalculatorRent vs. Buy Calculator