MORTGAGE CALCULATOR

Calculate monthly payments, total interest, and full amortization schedules with visual charts.

>LOAN PARAMETERS

HOME PRICE$400,000

DOWN PAYMENT (20.0%)$80,000

DOWN PAYMENT %20%

INTEREST RATE6.50%

LOAN TERM30 YRS

>ADDITIONAL COSTS (ANNUAL)

PROPERTY TAX$4,800/yr

HOME INSURANCE$1,200/yr

HOA FEES$0/mo

MONTHLY PAYMENT

$2,522.62

P&I: $2,022.62

LOAN AMOUNT

$320,000

80.0% LTV

TOTAL INTEREST

$408,142

over 30 years

TOTAL COST

$808,142

down + all payments

>MONTHLY BREAKDOWN

Principal$289.28

Interest$1,733.33

Property Tax$400.00

Insurance$100.00

PRINCIPAL & INTEREST$2,022.62

PROPERTY TAX$400.00

HOME INSURANCE$100.00

HOA$0.00

TOTAL / MONTH$2,522.62

>AMORTIZATION SCHEDULE

MO	PAYMENT	PRINCIPAL	INTEREST	BALANCE
1	$2,022.62	$289.28	$1,733.33	$319,711
2	$2,022.62	$290.85	$1,731.77	$319,420
3	$2,022.62	$292.43	$1,730.19	$319,127
4	$2,022.62	$294.01	$1,728.61	$318,833
5	$2,022.62	$295.60	$1,727.01	$318,538
6	$2,022.62	$297.20	$1,725.41	$318,241
7	$2,022.62	$298.81	$1,723.80	$317,942
8	$2,022.62	$300.43	$1,722.18	$317,641
9	$2,022.62	$302.06	$1,720.56	$317,339
10	$2,022.62	$303.70	$1,718.92	$317,036
11	$2,022.62	$305.34	$1,717.28	$316,730
12	$2,022.62	$307.00	$1,715.62	$316,423
13	$2,022.62	$308.66	$1,713.96	$316,115
14	$2,022.62	$310.33	$1,712.29	$315,804
15	$2,022.62	$312.01	$1,710.61	$315,492
16	$2,022.62	$313.70	$1,708.92	$315,179
17	$2,022.62	$315.40	$1,707.22	$314,863
18	$2,022.62	$317.11	$1,705.51	$314,546
19	$2,022.62	$318.83	$1,703.79	$314,227
20	$2,022.62	$320.55	$1,702.06	$313,907
21	$2,022.62	$322.29	$1,700.33	$313,584
22	$2,022.62	$324.04	$1,698.58	$313,260
23	$2,022.62	$325.79	$1,696.83	$312,935
24	$2,022.62	$327.56	$1,695.06	$312,607

// FAQ

FREQUENTLY ASKED QUESTIONS

Q1.What does the monthly payment include?

The monthly payment shown includes principal and interest (P&I), property tax, home insurance, and HOA fees if entered. The P&I portion is the actual loan payment; the rest are estimates of your total housing costs.

Q2.What is an amortization schedule?

An amortization schedule shows every monthly payment over the life of your loan, broken down by how much goes toward principal (reducing your balance) versus interest. Early payments are mostly interest; later payments are mostly principal.

Q3.What is LTV?

LTV stands for Loan-to-Value ratio. It's your loan amount divided by the home's value. For example, a $320,000 loan on a $400,000 home is 80% LTV. Lenders typically require private mortgage insurance (PMI) if your LTV exceeds 80%.

Q4.How does the interest rate affect my payment?

A small change in interest rate has a large impact over a 30-year loan. For example, on a $320,000 loan, the difference between 6% and 7% is roughly $200/month — and over $70,000 in total interest paid.

Q5.Should I choose a 15-year or 30-year mortgage?

A 15-year mortgage has a higher monthly payment but you pay significantly less total interest. A 30-year mortgage has a lower monthly payment and more flexibility, but costs more overall. Use the term buttons to compare both scenarios instantly.

Q6.Are property tax and insurance estimates accurate?

Property tax and insurance amounts vary widely by location, home value, and insurer. The defaults are national averages — edit them to match your specific situation for a more accurate total monthly cost.

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