Estimate mortgage payments, total interest, and payoff date — with taxes, insurance, PMI, HOA, extra payments, and a full amortization schedule.
Content last reviewed
These optional costs are added to the monthly estimate, but they are not part of the loan amortization formula.
How the payment is calculated
Monthly payment = P x r x (1+r)n / ((1+r)n - 1), where P is loan principal, r is monthly interest rate, and n is total monthly payments. At 0% interest, payment is principal divided by months. You can also compare this with the EMI Calculator.
Home price, down payment, interest rate, term, and start date — the loan amount computes and stays editable.
Optional property tax, insurance, PMI, and HOA to see the broader payment, plus any extra payments.
Monthly payment, total interest, payoff date, and a monthly or yearly amortization table.
Principal and interest only; taxes and insurance would sit on top.
Input
Loan $300,000 · 6.5% · 30 yearsOutput
Monthly P&I ≈ $1,896.20 · total interest ≈ $382,633 over the term — the amortization table shows the early-year interest weightingA mortgage quote is one number; owning the loan is a schedule. This calculator estimates the full picture: the monthly principal-and-interest payment from the standard amortized-loan formula, the total interest and repayment over the term, the payoff date from your chosen start, and a month-by-month or year-by-year amortization table showing exactly how each payment splits and what balance remains.
It is built for the decisions buyers actually face. Down payment and loan amount stay in sync (with the loan editable for custom scenarios), so the effect of putting more down is immediate. Optional monthly costs — property tax, home insurance, PMI or mortgage insurance, and HOA or maintenance — join the estimate so the payment you plan around resembles the one you will live with, while staying clearly separate from the loan math itself. And extra payments, monthly or one-time, are simulated as additional principal, with the comparison showing the interest saved and the months removed from the term.
The framing is deliberately careful, and the tool says so on its face: these are planning estimates, not offers. Lenders add fees, escrow rules, compounding conventions, and credit-profile pricing that no calculator sees, and prepayment handling varies by lender. As the disclaimer states — not financial, legal, tax, or lending advice; verify the numbers that matter with a lender or qualified professional before committing.
Enter the home price, down payment (amount and percentage stay in sync), interest rate (the annual quoted rate), loan term, and start date. Review or edit the computed loan amount.
Optionally add monthly property tax, home insurance, PMI/mortgage insurance, and HOA/maintenance to broaden the payment estimate.
Optionally add an extra monthly payment or a one-time extra payment to compare payoff time and interest savings against the base loan.
Calculate, then read the monthly payment, total interest, total repayment, and payoff date.
Use the amortization schedule — monthly or yearly view — to see each period's principal/interest split and remaining balance, and verify the plan with a lender before acting on it.
The principal-and-interest payment from the classic formula, with a 0% rate handled as principal ÷ months.
Amount and percentage stay linked, and the loan amount remains directly editable for custom scenarios.
Optional tax, insurance, PMI, and HOA added to the payment — included in the estimate, kept out of the loan formula.
Monthly and one-time prepayments simulated as additional principal, with interest and time savings reported.
The projected payoff from your start date, plus a monthly or yearly amortization table.
See the realistic monthly outlay — loan plus taxes, insurance, and fees — before house-hunting seriously.
Weigh 15-, 20-, and 30-year terms by monthly payment against total interest.
Quantify how a larger down payment changes the loan and the monthly figure.
Estimate what an extra monthly amount or a lump sum does to the payoff date and lifetime interest.
Model a new rate and term against the current loan's remaining picture.
The scheduled payment uses the standard formula — principal × monthly rate ÷ (1 − (1 + monthly rate)^−months) — and the schedule then applies it month by month: each month's interest is the balance times the monthly rate, the remainder reduces principal, and the balance walks down to zero at the payoff date. Early payments skew toward interest because the balance is largest at the start; the table makes the crossover visible.
Extra payments enter the simulation as additional principal in their month (every month for the recurring kind, once for the lump sum), which pulls the payoff earlier and removes the interest those months would have charged — the comparison against the base run is where the savings figures come from. The optional tax/insurance/PMI/HOA amounts are added to the displayed monthly total but never enter the amortization math, since they are costs of ownership rather than loan mechanics.
The core loan inputs; down payment as amount or percent, loan amount editable.
Optional property tax, insurance, PMI/mortgage insurance, and HOA/maintenance.
A recurring monthly extra and/or a one-time lump sum, compared against the base schedule.
Amortization by month or summarized by year.
The rate field expects the annual quoted figure — the calculator derives the monthly rate itself. A 0.5% entry meant as "per month" produces a wildly optimistic result.
Lender quotes fold in escrow, fees, insurance requirements, and rounding conventions this planning model does not. Compare the principal-and-interest portion specifically, and expect small differences even there.
They are usually real — early principal reduction removes decades of compounding — but confirm your lender applies prepayments to principal without penalty before banking on the simulation.
This is a fixed-rate planning model: adjustable rates, escrow mechanics, closing costs, points, and credit-based pricing are outside it, and taxes/insurance/PMI/HOA are user-entered constants though they change over time in reality. Prepayment simulation assumes extras go straight to principal without fees — lender rules vary. As the tool's own disclaimer states plainly: estimates for general planning, not financial, legal, tax, or lending advice; verify with a lender or qualified professional before major decisions.
All inputs and the schedule are computed in your browser — home prices, incomes implied, and scenarios are never uploaded or stored.
Enter the annual quoted rate — the tool derives the monthly rate itself.
Include tax, insurance, PMI, and HOA when judging affordability; P&I alone understates the real payment.
Compare terms on total interest and payoff date, not only the monthly figure.
Confirm your lender's prepayment rules before relying on extra-payment savings.
Treat every output as a planning estimate and verify final numbers with the lender.
Decide the budget from the full monthly line — P&I plus taxes, insurance, PMI, and HOA — and stress it: a payment that only works at your best month is not a payment that works. The optional-cost fields exist to make the honest number visible before an agent's spreadsheet does.
Use the schedule as a negotiating instrument. Seeing that year one of a 30-year loan is overwhelmingly interest reframes both the term choice and the prepayment question; running a 20-year term or a modest monthly extra alongside shows what the alternatives buy in hard numbers.
And re-run the model at every real quote: rates, fees, and PMI thresholds differ by lender and profile, and five minutes per quote keeps the comparison on your terms rather than the brochure's.
Client-side computation: the scheduled payment uses the amortized-loan formula on principal, monthly rate, and month count (0% falls back to principal ÷ months); the schedule iterates monthly with interest = balance × monthly rate and principal as the remainder, extra payments applied as additional principal in their months; yearly view aggregates the monthly rows. Down payment amount and percentage are kept in sync bidirectionally with the loan amount editable. Optional monthly costs are summed into the displayed total outside the amortization. Payoff date derives from the start date plus the simulated month count.
Home buyers sizing what a price actually costs per month, owners weighing prepayments or a refinance, and planners comparing 15/20/30-year structures. It suits anyone who wants the schedule, not just the payment — while leaving approval, fees, and final terms where they belong, with the lender.
Evidence and boundaries
Currency is a display choice unless stated otherwise. Lending, tax, disclosure, and investment rules vary by jurisdiction and provider.
Evidence standard reviewed .
With the standard amortized-loan formula from the principal, monthly interest rate, and number of monthly payments; at 0% interest it is simply principal divided by months. The schedule then splits each payment into interest (balance × monthly rate) and principal.
Only if you enter them — the optional monthly fields for tax, insurance, PMI, and HOA are added to the displayed total but kept out of the loan amortization, since they are ownership costs rather than loan mechanics.
They reduce the balance early, and every subsequent month charges interest on the smaller balance — the simulation compares the schedule with and without the extras and reports the interest and months saved. Confirm your lender applies prepayments to principal without penalties.
Lenders include fees, escrow rules, compounding conventions, insurance requirements, credit-profile pricing, and rounding that a planning calculator does not see. Treat differences as expected — this model is for comparison and planning, the lender's documents for the actual loan.
Each month's (or year's) interest, principal, any extra payment, and the remaining balance through to payoff. The early-year interest weighting it reveals is the key fact behind term and prepayment decisions.
No — as the built-in disclaimer states, these are general planning estimates, not financial, legal, tax, or lending advice, and eligibility and terms vary by lender and profile. Verify important numbers with a lender or qualified professional.