Mortgage Calculator
Calculate your monthly mortgage payment with PITI breakdown
Loan Details
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Loan Term
Optional — for full PITI estimate
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Estimated annual property taxes
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Shows how extra payments reduce your loan
Monthly PITI Payment
$2,629
Principal, interest, taxes & insurance
No signup requiredInstant calculationFree forever
Monthly Payment Breakdown
$2,629/month
Principal$26210%
Interest$1,86771%
Property Tax$40015%
Home Insurance$1004%
Total / month$2,629
First-month breakdown · hover segments for details
Monthly P&I
$2,129
Principal & interest
Total Interest
$446,428
Over loan lifetime
Loan Amount
$320,000
20.0% down
Payoff Date
May 2056
30 yrs remaining
Loan Summary
- Home Price
- $400,000
- Down Payment (20.0%)
- $80,000
- Loan Amount
- $320,000
- Interest Rate
- 7.00%
- Monthly Tax
- $400
- Monthly Insurance
- $100
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Balance vs. Interest Over Time
Principal BalanceCumulative InterestCrossover Point
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,129 | $262 | $1,867 | $319,738 |
| 2 | $2,129 | $264 | $1,865 | $319,474 |
| 3 | $2,129 | $265 | $1,864 | $319,208 |
| 4 | $2,129 | $267 | $1,862 | $318,942 |
| 5 | $2,129 | $268 | $1,860 | $318,673 |
| 6 | $2,129 | $270 | $1,859 | $318,403 |
| 7 | $2,129 | $272 | $1,857 | $318,131 |
| 8 | $2,129 | $273 | $1,856 | $317,858 |
| 9 | $2,129 | $275 | $1,854 | $317,583 |
| 10 | $2,129 | $276 | $1,853 | $317,307 |
| 11 | $2,129 | $278 | $1,851 | $317,029 |
| 12 | $2,129 | $280 | $1,849 | $316,749 |
Mortgage Calculator FAQ
Our calculator uses the standard amortization formula used by all lenders: M = P[r(1+r)^n]/[(1+r)^n-1]. Results are accurate to within cents of actual lender calculations. Note that actual loan quotes may include origination fees and other costs not reflected here.
Principal is the original loan amount you borrowed, and each payment you make reduces this balance. Interest is the fee you pay the lender for borrowing the money, calculated monthly on your remaining balance. Early in your loan, most of your payment goes toward interest. Over time, more goes toward principal — this is called amortization.
LTV (Loan-to-Value) is your loan amount divided by your home's value. A 90% LTV means you put 10% down. LTV affects your interest rate — lower LTV typically means better rates. It also determines PMI: if LTV exceeds 80% (less than 20% down), you'll pay PMI until the balance drops to 80% of the original value.