Mortgage Calculator — Monthly Payment & Amortization

Loan details

Home price purchase price

Down payment

20% of home price

Loan term

10 yr

15 yr

20 yr

30 yr

40 yr

Interest rate (annual)

Include taxes, insurance & fees

Property tax (annual) optional

Home insurance (annual) optional

HOA fees (monthly) optional

PMI (monthly) <20% down

Monthly payment breakdown

Total monthly payment

$—

principal + interest

Principal + interest

$—

Loan amount

$—

Total interest paid

$—

Total cost of loan

$—

Payment composition

Principal & Interest

—

Property Tax

—

Insurance

—

HOA Fees

—

PMI

—

Estimated payoff date

—

Extra payment calculator

See how much time and interest you save by making extra monthly payments.

Extra monthly payment

Years saved

—

Interest saved

—

New payoff date

—

Mortgage guide

What is PMI?

Private Mortgage Insurance is required when your down payment is less than 20%. It protects the lender, not you. Typically 0.5–1.5% of the loan annually.

15 vs 30 year mortgage?

A 15-year loan has higher monthly payments but you pay far less interest overall. A 30-year loan is more affordable monthly but costs significantly more long-term.

What is amortization?

Amortization is how your payment is split between principal and interest each month. Early payments are mostly interest — later payments shift toward principal.

Does extra payment help?

Yes, significantly. Even $100–200 extra per month can shave years off your loan and save tens of thousands in interest over the loan's lifetime.

Results are estimates for informational purposes only. Consult a licensed mortgage professional for personalised advice.