Mortgage Calculator
Calculate your monthly mortgage payment, total interest paid, and view a full year-by-year amortization schedule.
Loan Details
$400,000
$80,000
6.5%
Monthly Extras
Monthly Payment
per month
Principal & Interest
$2,022.62Property Tax
$300Insurance
$150Loan Summary
Loan Amount$320,000
Total Interest$408,142
Total Cost$808,142
Payoff Date2056
Principal vs Interest
Principal 44%Interest 56%
How to Use the Mortgage Calculator
Enter the home price, your planned down payment, the annual interest rate, and loan term. The calculator instantly shows your monthly principal and interest payment, plus optional property tax and insurance for a complete PITI payment estimate.
The amortization schedule shows exactly how much of each year's payments go toward principal vs interest — early years are heavily interest-weighted, which is why paying extra principal early saves significant money.
A 20% down payment eliminates Private Mortgage Insurance (PMI), typically saving $50–$200/month. Our calculator shows your down payment percentage to help you plan accordingly.