Mortgage Calculator
Estimate your monthly mortgage payment — principal, interest, taxes and insurance — and see how much of the loan is interest over its life.
Your numbers
Estimated monthly payment
$2,573
Loan amount
$320,000
Total interest
$408,142
Total of payments
$728,142
Show yearly amortization
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Compare mortgage offers
Sponsored — we may earn a commission from these partners, at no cost to you.
Compare mortgage rates
Rates vary by lender — comparing a few offers before you lock can save thousands over the life of the loan.
Compare ratesGet pre-approved online
See how much you can borrow and lock a rate with a fast online pre-approval.
Check eligibilityRefinance an existing mortgage
If rates have dropped since you bought, refinancing could lower your monthly payment.
See refinance ratesThis mortgage calculator shows the full monthly cost of a home loan: principal and interest, plus optional property tax, homeowners insurance and HOA. Adjust the price, down payment, interest rate and term to see the payment update instantly.
The math is a standard fixed-rate amortization — exact, not an estimate. The only figures that vary in the real world are the rate a lender offers you and your local taxes and insurance, which is why comparing a few lenders before you lock a rate can save thousands over the life of the loan.
- A larger down payment lowers both the loan amount and, often, the interest rate — and a down payment of 20% or more usually avoids private mortgage insurance (PMI).
- A shorter term (15 vs 30 years) means a higher monthly payment but far less total interest.
- Even a 0.5% difference in rate is worth thousands over 30 years — always compare offers.
? Questions fréquentes
How is the monthly mortgage payment calculated?
It uses the standard amortization formula M = P·r / (1 − (1 + r)^−n), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments (years × 12). Property tax, insurance and HOA are added on top.
Does this include property tax and insurance?
Yes — optionally. Enter your annual property tax and homeowners insurance and any monthly HOA, and they are added to the principal-and-interest payment to show your true monthly cost.
What is PMI and is it included?
Private mortgage insurance is usually required when your down payment is under 20%. This calculator doesn't add PMI automatically; if your lender requires it, include it in the insurance field.
Why does so much of my early payment go to interest?
With amortization, interest is charged on the remaining balance, which is highest at the start. Early payments are mostly interest and shift toward principal over time — the yearly breakdown shows this.
CostTrek provides general information, not financial advice. Results are estimates based on the figures you enter; your actual rate, taxes and insurance will vary. Confirm details with a qualified lender or advisor.