Mortgage Calculator
Estimate your monthly mortgage payment including principal, interest, property tax, home insurance, PMI, and HOA fees.
$80,000.00 down
Total monthly payment
$2,489.28
- Principal & interest
- $2,022.62
- Property tax
- $366.67
- Home insurance
- $100.00
- Total interest (life of loan)
- $408,142.36
Amortization schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $4,635.50 | $19,635.91 | $299,555.13 |
| 6 | $4,945.95 | $19,325.46 | $294,609.18 |
| 7 | $5,277.19 | $18,994.22 | $289,331.98 |
| 8 | $5,630.62 | $18,640.80 | $283,701.37 |
| 9 | $6,007.71 | $18,263.70 | $277,693.66 |
| 10 | $6,410.06 | $17,861.36 | $271,283.60 |
| 11 | $6,839.35 | $17,432.06 | $264,444.26 |
| 12 | $7,297.39 | $16,974.02 | $257,146.86 |
| 13 | $7,786.11 | $16,485.30 | $249,360.75 |
| 14 | $8,307.56 | $15,963.85 | $241,053.19 |
| 15 | $8,863.94 | $15,407.48 | $232,189.25 |
| 16 | $9,457.57 | $14,813.84 | $222,731.68 |
| 17 | $10,090.96 | $14,180.45 | $212,640.72 |
| 18 | $10,766.77 | $13,504.64 | $201,873.95 |
| 19 | $11,487.84 | $12,783.57 | $190,386.11 |
| 20 | $12,257.20 | $12,014.21 | $178,128.90 |
| 21 | $13,078.09 | $11,193.32 | $165,050.81 |
| 22 | $13,953.96 | $10,317.46 | $151,096.86 |
| 23 | $14,888.48 | $9,382.93 | $136,208.38 |
| 24 | $15,885.59 | $8,385.83 | $120,322.79 |
| 25 | $16,949.47 | $7,321.94 | $103,373.32 |
| 26 | $18,084.61 | $6,186.80 | $85,288.71 |
| 27 | $19,295.77 | $4,975.64 | $65,992.94 |
| 28 | $20,588.05 | $3,683.37 | $45,404.89 |
| 29 | $21,966.86 | $2,304.55 | $23,438.03 |
| 30 | $23,438.03 | $833.39 | $0.00 |
About this calculator
This calculator estimates your total monthly mortgage payment (PITI) — principal, interest, property tax, and home insurance — plus PMI if your down payment is under 20%, and any HOA fees. Enter your home price, down payment, loan term, and interest rate to see a full month-by-month amortization schedule showing exactly how much of each payment goes to principal versus interest, and how your remaining balance decreases over the life of the loan.
Frequently asked questions
- What is PITI?
- PITI stands for Principal, Interest, Taxes, and Insurance — the four components that typically make up a full monthly mortgage payment. This calculator breaks out all four, plus PMI and HOA fees when applicable, so you can see your true total monthly cost.
- When does PMI go away?
- Private mortgage insurance (PMI) is generally required when your down payment is less than 20% of the home price. It typically drops off once your loan balance falls to 80% of the original home value — this calculator estimates that point automatically based on your amortization schedule.
- How is my monthly principal and interest payment calculated?
- It uses the standard fixed-rate amortization formula based on your loan amount, interest rate, and loan term. Every payment is the same amount, but the split between principal and interest shifts over time — early payments are mostly interest, later payments are mostly principal.
- What if I make extra payments?
- Enter an optional extra monthly payment amount and the calculator will apply it directly to your principal balance, showing you how much faster you'd pay off the loan and how much interest you'd save.
Also try our Loan Calculator.