Finance & Tax

Mortgage Payment Calculator

Work out your exact monthly mortgage payment — including property tax, insurance, PMI and HOA — then see how extra payments shrink your term and your interest bill. Built on the official CFPB amortisation formula.

Your mortgage

Home price$400,000

Down payment20%

$80,000 down · 80.00% LTV

Interest rate6.50%

Loan term

Monthly payment: $2,539
Principal & interest: $2,023
Total interest: $408,141
Loan amount: $320,000

Monthly payment breakdown

How each monthly dollar is split between principal, interest, taxes, insurance and fees.

$2,539per month

Principal & interest
Property tax
Home insurance

Monthly payment breakdown
Category	Value
Principal & interest	$2,023
Property tax	$367
Home insurance	$150

Total cost over the loan

Lifetime split of principal repaid versus interest charged.

$914,142total paid

Principal
Interest
Taxes & insurance

Total cost over the loan
Category	Value
Principal	$320,000
Interest	$408,141
Taxes & insurance	$186,001

Balance and cumulative interest

Watch the outstanding balance fall while cumulative interest flattens out over time.

Remaining balance
Cumulative interest

Balance and cumulative interest
Category	Value
Y1	Remaining balance: $316,423 · Cumulative interest: $20,695
Y2	Remaining balance: $312,607 · Cumulative interest: $41,150
Y3	Remaining balance: $308,535 · Cumulative interest: $61,349
Y4	Remaining balance: $304,191 · Cumulative interest: $81,276
Y5	Remaining balance: $299,555 · Cumulative interest: $100,912
Y6	Remaining balance: $294,609 · Cumulative interest: $120,238
Y7	Remaining balance: $289,332 · Cumulative interest: $139,232
Y8	Remaining balance: $283,701 · Cumulative interest: $157,873
Y9	Remaining balance: $277,693 · Cumulative interest: $176,136
Y10	Remaining balance: $271,283 · Cumulative interest: $193,998
Y11	Remaining balance: $264,444 · Cumulative interest: $211,430
Y12	Remaining balance: $257,146 · Cumulative interest: $228,404
Y13	Remaining balance: $249,360 · Cumulative interest: $244,889
Y14	Remaining balance: $241,053 · Cumulative interest: $260,853
Y15	Remaining balance: $232,189 · Cumulative interest: $276,260
Y16	Remaining balance: $222,731 · Cumulative interest: $291,074
Y17	Remaining balance: $212,640 · Cumulative interest: $305,254
Y18	Remaining balance: $201,873 · Cumulative interest: $318,759
Y19	Remaining balance: $190,385 · Cumulative interest: $331,542
Y20	Remaining balance: $178,128 · Cumulative interest: $343,557
Y21	Remaining balance: $165,050 · Cumulative interest: $354,750
Y22	Remaining balance: $151,096 · Cumulative interest: $365,067
Y23	Remaining balance: $136,207 · Cumulative interest: $374,450
Y24	Remaining balance: $120,321 · Cumulative interest: $382,836
Y25	Remaining balance: $103,372 · Cumulative interest: $390,158
Y26	Remaining balance: $85,287 · Cumulative interest: $396,344
Y27	Remaining balance: $65,991 · Cumulative interest: $401,320
Y28	Remaining balance: $45,403 · Cumulative interest: $405,003
Y29	Remaining balance: $23,436 · Cumulative interest: $407,307
Y30	Remaining balance: $0 · Cumulative interest: $408,141

Yearly principal vs interest

Early payments are mostly interest; later payments chip away at principal.

Principal
Interest

Yearly principal vs interest
Category	Value
Principal	$320,000
Interest	$408,141

Amortization schedule

360 payments · 360 rows

#	Interest	Principal	Extra	Balance
1	$1,733	$289	—	$319,711
2	$1,732	$291	—	$319,420
3	$1,730	$292	—	$319,127
4	$1,729	$294	—	$318,833
5	$1,727	$296	—	$318,538
6	$1,725	$297	—	$318,241
7	$1,724	$299	—	$317,942
8	$1,722	$300	—	$317,641
9	$1,721	$302	—	$317,339
10	$1,719	$304	—	$317,036
11	$1,717	$305	—	$316,730
12	$1,716	$307	—	$316,423
13	$1,714	$309	—	$316,115
14	$1,712	$310	—	$315,804
15	$1,711	$312	—	$315,492
16	$1,709	$314	—	$315,179
17	$1,707	$315	—	$314,863
18	$1,706	$317	—	$314,546
19	$1,704	$319	—	$314,227
20	$1,702	$321	—	$313,907
21	$1,700	$322	—	$313,584
22	$1,699	$324	—	$313,260
23	$1,697	$326	—	$312,935
24	$1,695	$328	—	$312,607
25	$1,693	$329	—	$312,278
26	$1,692	$331	—	$311,947
27	$1,690	$333	—	$311,614
28	$1,688	$335	—	$311,279
29	$1,686	$337	—	$310,942
30	$1,684	$338	—	$310,604
31	$1,682	$340	—	$310,264
32	$1,681	$342	—	$309,922
33	$1,679	$344	—	$309,578
34	$1,677	$346	—	$309,232
35	$1,675	$348	—	$308,885
36	$1,673	$350	—	$308,535
37	$1,671	$351	—	$308,184
38	$1,669	$353	—	$307,830
39	$1,667	$355	—	$307,475
40	$1,665	$357	—	$307,118
41	$1,664	$359	—	$306,759
42	$1,662	$361	—	$306,398
43	$1,660	$363	—	$306,035
44	$1,658	$365	—	$305,670
45	$1,656	$367	—	$305,303
46	$1,654	$369	—	$304,934
47	$1,652	$371	—	$304,563
48	$1,650	$373	—	$304,191
49	$1,648	$375	—	$303,816
50	$1,646	$377	—	$303,439
51	$1,644	$379	—	$303,060
52	$1,642	$381	—	$302,679
53	$1,640	$383	—	$302,295
54	$1,637	$385	—	$301,910
55	$1,635	$387	—	$301,523
56	$1,633	$389	—	$301,134
57	$1,631	$391	—	$300,742
58	$1,629	$394	—	$300,349
59	$1,627	$396	—	$299,953
60	$1,625	$398	—	$299,555
61	$1,623	$400	—	$299,155
62	$1,620	$402	—	$298,753
63	$1,618	$404	—	$298,348
64	$1,616	$407	—	$297,942
65	$1,614	$409	—	$297,533
66	$1,612	$411	—	$297,122
67	$1,609	$413	—	$296,709
68	$1,607	$415	—	$296,293
69	$1,605	$418	—	$295,876
70	$1,603	$420	—	$295,456
71	$1,600	$422	—	$295,033
72	$1,598	$425	—	$294,609
73	$1,596	$427	—	$294,182
74	$1,593	$429	—	$293,753
75	$1,591	$431	—	$293,322
76	$1,589	$434	—	$292,888
77	$1,586	$436	—	$292,452
78	$1,584	$439	—	$292,013
79	$1,582	$441	—	$291,572
80	$1,579	$443	—	$291,129
81	$1,577	$446	—	$290,683
82	$1,575	$448	—	$290,235
83	$1,572	$451	—	$289,785
84	$1,570	$453	—	$289,332
85	$1,567	$455	—	$288,876
86	$1,565	$458	—	$288,418
87	$1,562	$460	—	$287,958
88	$1,560	$463	—	$287,495
89	$1,557	$465	—	$287,030
90	$1,555	$468	—	$286,562
91	$1,552	$470	—	$286,092
92	$1,550	$473	—	$285,619
93	$1,547	$476	—	$285,143
94	$1,545	$478	—	$284,665
95	$1,542	$481	—	$284,184
96	$1,539	$483	—	$283,701
97	$1,537	$486	—	$283,215
98	$1,534	$489	—	$282,727
99	$1,531	$491	—	$282,235
100	$1,529	$494	—	$281,742
101	$1,526	$497	—	$281,245
102	$1,523	$499	—	$280,746
103	$1,521	$502	—	$280,244
104	$1,518	$505	—	$279,739
105	$1,515	$507	—	$279,232
106	$1,513	$510	—	$278,722
107	$1,510	$513	—	$278,209
108	$1,507	$516	—	$277,693
109	$1,504	$518	—	$277,175
110	$1,501	$521	—	$276,654
111	$1,499	$524	—	$276,130
112	$1,496	$527	—	$275,603
113	$1,493	$530	—	$275,073
114	$1,490	$533	—	$274,540
115	$1,487	$536	—	$274,005
116	$1,484	$538	—	$273,466
117	$1,481	$541	—	$272,925
118	$1,478	$544	—	$272,381
119	$1,475	$547	—	$271,833
120	$1,472	$550	—	$271,283
121	$1,469	$553	—	$270,730
122	$1,466	$556	—	$270,174
123	$1,463	$559	—	$269,615
124	$1,460	$562	—	$269,053
125	$1,457	$565	—	$268,487
126	$1,454	$568	—	$267,919
127	$1,451	$571	—	$267,348
128	$1,448	$574	—	$266,773
129	$1,445	$578	—	$266,195
130	$1,442	$581	—	$265,615
131	$1,439	$584	—	$265,031
132	$1,436	$587	—	$264,444
133	$1,432	$590	—	$263,854
134	$1,429	$593	—	$263,260
135	$1,426	$597	—	$262,664
136	$1,423	$600	—	$262,064
137	$1,420	$603	—	$261,461
138	$1,416	$606	—	$260,854
139	$1,413	$610	—	$260,245
140	$1,410	$613	—	$259,632
141	$1,406	$616	—	$259,015
142	$1,403	$620	—	$258,396
143	$1,400	$623	—	$257,773
144	$1,396	$626	—	$257,146
145	$1,393	$630	—	$256,517
146	$1,389	$633	—	$255,883
147	$1,386	$637	—	$255,247
148	$1,383	$640	—	$254,607
149	$1,379	$644	—	$253,963
150	$1,376	$647	—	$253,316
151	$1,372	$650	—	$252,666
152	$1,369	$654	—	$252,012
153	$1,365	$658	—	$251,354
154	$1,362	$661	—	$250,693
155	$1,358	$665	—	$250,029
156	$1,354	$668	—	$249,360
157	$1,351	$672	—	$248,688
158	$1,347	$676	—	$248,013
159	$1,343	$679	—	$247,334
160	$1,340	$683	—	$246,651
161	$1,336	$687	—	$245,964
162	$1,332	$690	—	$245,274
163	$1,329	$694	—	$244,580
164	$1,325	$698	—	$243,882
165	$1,321	$702	—	$243,180
166	$1,317	$705	—	$242,475
167	$1,313	$709	—	$241,766
168	$1,310	$713	—	$241,053
169	$1,306	$717	—	$240,336
170	$1,302	$721	—	$239,615
171	$1,298	$725	—	$238,890
172	$1,294	$729	—	$238,162
173	$1,290	$733	—	$237,429
174	$1,286	$737	—	$236,692
175	$1,282	$741	—	$235,952
176	$1,278	$745	—	$235,207
177	$1,274	$749	—	$234,459
178	$1,270	$753	—	$233,706
179	$1,266	$757	—	$232,949
180	$1,262	$761	—	$232,189
181	$1,258	$765	—	$231,424
182	$1,254	$769	—	$230,655
183	$1,249	$773	—	$229,881
184	$1,245	$777	—	$229,104
185	$1,241	$782	—	$228,322
186	$1,237	$786	—	$227,536
187	$1,232	$790	—	$226,746
188	$1,228	$794	—	$225,952
189	$1,224	$799	—	$225,153
190	$1,220	$803	—	$224,350
191	$1,215	$807	—	$223,543
192	$1,211	$812	—	$222,731
193	$1,206	$816	—	$221,915
194	$1,202	$821	—	$221,094
195	$1,198	$825	—	$220,269
196	$1,193	$830	—	$219,440
197	$1,189	$834	—	$218,606
198	$1,184	$839	—	$217,767
199	$1,180	$843	—	$216,924
200	$1,175	$848	—	$216,077
201	$1,170	$852	—	$215,224
202	$1,166	$857	—	$214,367
203	$1,161	$861	—	$213,506
204	$1,156	$866	—	$212,640
205	$1,152	$871	—	$211,769
206	$1,147	$876	—	$210,894
207	$1,142	$880	—	$210,013
208	$1,138	$885	—	$209,128
209	$1,133	$890	—	$208,238
210	$1,128	$895	—	$207,344
211	$1,123	$900	—	$206,444
212	$1,118	$904	—	$205,540
213	$1,113	$909	—	$204,631
214	$1,108	$914	—	$203,716
215	$1,103	$919	—	$202,797
216	$1,098	$924	—	$201,873
217	$1,093	$929	—	$200,944
218	$1,088	$934	—	$200,010
219	$1,083	$939	—	$199,070
220	$1,078	$944	—	$198,126
221	$1,073	$949	—	$197,177
222	$1,068	$955	—	$196,222
223	$1,063	$960	—	$195,262
224	$1,058	$965	—	$194,297
225	$1,052	$970	—	$193,327
226	$1,047	$975	—	$192,352
227	$1,042	$981	—	$191,371
228	$1,037	$986	—	$190,385
229	$1,031	$991	—	$189,394
230	$1,026	$997	—	$188,397
231	$1,020	$1,002	—	$187,395
232	$1,015	$1,008	—	$186,387
233	$1,010	$1,013	—	$185,374
234	$1,004	$1,019	—	$184,356
235	$999	$1,024	—	$183,332
236	$993	$1,030	—	$182,302
237	$987	$1,035	—	$181,267
238	$982	$1,041	—	$180,226
239	$976	$1,046	—	$179,180
240	$971	$1,052	—	$178,128
241	$965	$1,058	—	$177,070
242	$959	$1,063	—	$176,007
243	$953	$1,069	—	$174,937
244	$948	$1,075	—	$173,862
245	$942	$1,081	—	$172,781
246	$936	$1,087	—	$171,695
247	$930	$1,093	—	$170,602
248	$924	$1,099	—	$169,504
249	$918	$1,104	—	$168,399
250	$912	$1,110	—	$167,289
251	$906	$1,116	—	$166,172
252	$900	$1,123	—	$165,050
253	$894	$1,129	—	$163,921
254	$888	$1,135	—	$162,786
255	$882	$1,141	—	$161,645
256	$876	$1,147	—	$160,498
257	$869	$1,153	—	$159,345
258	$863	$1,160	—	$158,186
259	$857	$1,166	—	$157,020
260	$851	$1,172	—	$155,848
261	$844	$1,178	—	$154,669
262	$838	$1,185	—	$153,484
263	$831	$1,191	—	$152,293
264	$825	$1,198	—	$151,096
265	$818	$1,204	—	$149,891
266	$812	$1,211	—	$148,681
267	$805	$1,217	—	$147,463
268	$799	$1,224	—	$146,240
269	$792	$1,230	—	$145,009
270	$785	$1,237	—	$143,772
271	$779	$1,244	—	$142,528
272	$772	$1,251	—	$141,277
273	$765	$1,257	—	$140,020
274	$758	$1,264	—	$138,756
275	$752	$1,271	—	$137,485
276	$745	$1,278	—	$136,207
277	$738	$1,285	—	$134,922
278	$731	$1,292	—	$133,630
279	$724	$1,299	—	$132,332
280	$717	$1,306	—	$131,026
281	$710	$1,313	—	$129,713
282	$703	$1,320	—	$128,393
283	$695	$1,327	—	$127,066
284	$688	$1,334	—	$125,731
285	$681	$1,342	—	$124,390
286	$674	$1,349	—	$123,041
287	$666	$1,356	—	$121,685
288	$659	$1,363	—	$120,321
289	$652	$1,371	—	$118,950
290	$644	$1,378	—	$117,572
291	$637	$1,386	—	$116,186
292	$629	$1,393	—	$114,793
293	$622	$1,401	—	$113,392
294	$614	$1,408	—	$111,984
295	$607	$1,416	—	$110,568
296	$599	$1,424	—	$109,144
297	$591	$1,431	—	$107,713
298	$583	$1,439	—	$106,273
299	$576	$1,447	—	$104,826
300	$568	$1,455	—	$103,372
301	$560	$1,463	—	$101,909
302	$552	$1,471	—	$100,438
303	$544	$1,479	—	$98,960
304	$536	$1,487	—	$97,473
305	$528	$1,495	—	$95,979
306	$520	$1,503	—	$94,476
307	$512	$1,511	—	$92,965
308	$504	$1,519	—	$91,446
309	$495	$1,527	—	$89,919
310	$487	$1,536	—	$88,383
311	$479	$1,544	—	$86,839
312	$470	$1,552	—	$85,287
313	$462	$1,561	—	$83,726
314	$454	$1,569	—	$82,157
315	$445	$1,578	—	$80,580
316	$436	$1,586	—	$78,993
317	$428	$1,595	—	$77,399
318	$419	$1,603	—	$75,795
319	$411	$1,612	—	$74,183
320	$402	$1,621	—	$72,562
321	$393	$1,630	—	$70,933
322	$384	$1,638	—	$69,294
323	$375	$1,647	—	$67,647
324	$366	$1,656	—	$65,991
325	$357	$1,665	—	$64,326
326	$348	$1,674	—	$62,652
327	$339	$1,683	—	$60,968
328	$330	$1,692	—	$59,276
329	$321	$1,702	—	$57,574
330	$312	$1,711	—	$55,864
331	$303	$1,720	—	$54,144
332	$293	$1,729	—	$52,414
333	$284	$1,739	—	$50,676
334	$274	$1,748	—	$48,927
335	$265	$1,758	—	$47,170
336	$256	$1,767	—	$45,403
337	$246	$1,777	—	$43,626
338	$236	$1,786	—	$41,840
339	$227	$1,796	—	$40,044
340	$217	$1,806	—	$38,238
341	$207	$1,816	—	$36,423
342	$197	$1,825	—	$34,597
343	$187	$1,835	—	$32,762
344	$177	$1,845	—	$30,917
345	$167	$1,855	—	$29,062
346	$157	$1,865	—	$27,196
347	$147	$1,875	—	$25,321
348	$137	$1,885	—	$23,436
349	$127	$1,896	—	$21,540
350	$117	$1,906	—	$19,634
351	$106	$1,916	—	$17,718
352	$96	$1,927	—	$15,791
353	$86	$1,937	—	$13,854
354	$75	$1,948	—	$11,906
355	$64	$1,958	—	$9,948
356	$54	$1,969	—	$7,980
357	$43	$1,979	—	$6,000
358	$33	$1,990	—	$4,010
359	$22	$2,001	—	$2,009
360	$11	$2,009	—	$0

Baseline comparison: 30 yrs · $408,141 total interest. Figures are estimates for planning only and exclude closing costs, lender fees and any mortgage insurance premium variations.

The formula behind your payment

Every amortising loan — mortgage, auto loan or personal loan — is repaid using the same equation, standardised in the United States by the Consumer Financial Protection Bureau in Regulation Z, Appendix J:

M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]

M — the monthly principal and interest payment
P — the loan principal (home price minus down payment)
i — the monthly interest rate (annual rate ÷ 12)
n — the total number of monthly payments (term × 12)

When the interest rate is zero the formula simplifies to M = P ÷ n. The remaining balance after any payment is given by the closed form used by Freddie Mac in Form 91: Bₖ = P(1 + i)ᵏ − M × [ ((1 + i)ᵏ − 1) ÷ i ].

Worked examples

United States — 30-year fixed

A $400,000 home with a 20% down payment ($80,000) leaves a $320,000 loan at 6.5% over 360 months. The monthly principal and interest payment is $2,022.62. Add 1.1% property tax ($366.67/mo) and $1,800 annual insurance ($150/mo) and the total monthly outflow is about $2,539. Over the full term you repay roughly $408,142 in interest.

United Kingdom — repayment mortgage

UK repayment mortgages use the identical amortisation maths. A £250,000 loan at 5.25% over 25 years (300 months) costs £1,498.12 per month. UK lenders must also show the total amount repayable under FCA MCOB rules, which for this example is about £449,436.

Eurozone — annuity mortgage

In the euro area the same annuity formula applies. A €300,000 loan at 3.75% over 30 years gives a monthly payment of €1,389.35. Because eurozone rates are typically lower and fixed periods shorter, borrowers should stress-test the payment at a higher rate — try moving the interest-rate slider up by two percentage points.

How to use this calculator

Enter the home price and your down payment percentage.
Set the interest rate and choose a 10, 15, 20 or 30-year term.
Open the advanced panel to add property tax, insurance, PMI and HOA fees for a true all-in monthly figure.
Add an extra monthly or yearly payment to see how much time and interest you save.
Download the amortization schedule as CSV or share your exact scenario with a link.

FAQ

Frequently asked questions

Still unsure about something? Our contact page reaches a real person, usually within two business days.

How is a monthly mortgage payment calculated?

Lenders use the standard amortising loan formula from Regulation Z Appendix J: M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ], where P is the loan principal, i is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments. That figure covers principal and interest only; property tax, insurance, PMI and HOA fees are added on top to give your total monthly outflow.

What is the difference between principal and interest?

Principal is the money you borrowed and must repay. Interest is the lender's charge for lending it. In the early years of a mortgage most of each payment is interest because it is charged on the full outstanding balance. As the balance falls, the interest portion shrinks and more of every payment goes to principal — which is why the balance curve in the chart above steepens over time.

When do I have to pay PMI, and when does it stop?

Private mortgage insurance is normally required when your down payment is below 20%, meaning your loan-to-value ratio exceeds 80%. Under the Homeowners Protection Act (12 CFR 1026.43), your servicer must automatically cancel PMI once the balance reaches 78% of the original home value, provided your payments are current. You can also request cancellation earlier at 80% LTV.

How much does an extra monthly payment save?

Every extra dollar goes straight to principal, which reduces the balance that interest is charged on for every remaining month. On a $320,000 loan at 6.5% over 30 years, adding $200 a month typically clears the loan several years early and saves tens of thousands in interest. Use the extra-payment sliders above to see the exact months saved and interest saved for your own numbers.

Is a 15-year mortgage better than a 30-year mortgage?

A 15-year term carries a higher monthly payment but a lower interest rate and dramatically less total interest. A 30-year term keeps payments affordable and offers flexibility — you can always pay extra to mimic a 15-year schedule without being contractually obliged to. Compare both terms in the calculator to see the trade-off in monthly cash flow versus lifetime cost.

Do these figures include closing costs and fees?

No. This calculator estimates principal, interest, property tax, homeowners insurance, PMI and HOA dues. It excludes closing costs (typically 2–5% of the purchase price), lender origination fees, title insurance, appraisal fees and prepaid escrow deposits. Ask your lender for a Loan Estimate to see the complete picture before you commit.