Mortgage Calculator
For a home you are buying. Price, down payment, rate and term give you the loan payment, and the escrow items on top give you what leaves your account each month, on every row of the schedule.
Private by design. Your numbers stay on this device.
Educational estimates only. Not financial, tax, or lending advice.
Updated
Why the quoted payment is lower than what you pay
A lender quotes principal and interest. That is the part of the payment that retires the loan, and it is usually well under what you pay. On top of it sit property tax, homeowners insurance, mortgage insurance if your down payment is under 20%, and HOA dues if the property has them. Together these are often a third of the total.
This calculator shows both figures and the split between them, because the gap is what makes a house that looked affordable stop being affordable. If you already have a mortgage, the calculators below work on the loan you hold rather than one you are taking out.
Where the money goes
Over the full term you repay $320,000 of principal and $408,141 of interest, which is 128% of what you borrowed.
Balance over time
The curve is flat early because almost every dollar goes to interest at the start.
Amortization schedule
By year. Open a year to see its months.
The link carries these figures inside it, after the #. That part of a web address is never sent to any server, ours or anyone else’s, so sharing one transmits nothing. Anyone you send it to can read the figures in it.
| Year | Dates | Beginning balance | Total paid | Principal | Interest | Ending balance | Taxes & insurance | Mortgage insurance | HOA | Total cost for the year |
|---|---|---|---|---|---|---|---|---|---|---|
| Jan 01, 2026 – Dec 01, 2026 | $320,000.00 | $24,271.44 | $3,576.76 | $20,694.68 | $316,423.24 | — | — | — | $24,271.44 | |
| Jan 01, 2027 – Dec 01, 2027 | $316,423.24 | $24,271.44 | $3,816.28 | $20,455.16 | $312,606.96 | — | — | — | $24,271.44 | |
| Jan 01, 2028 – Dec 01, 2028 | $312,606.96 | $24,271.44 | $4,071.88 | $20,199.56 | $308,535.08 | — | — | — | $24,271.44 | |
| Jan 01, 2029 – Dec 01, 2029 | $308,535.08 | $24,271.44 | $4,344.57 | $19,926.87 | $304,190.51 | — | — | — | $24,271.44 | |
| Jan 01, 2030 – Dec 01, 2030 | $304,190.51 | $24,271.44 | $4,635.54 | $19,635.90 | $299,554.97 | — | — | — | $24,271.44 | |
| Jan 01, 2031 – Dec 01, 2031 | $299,554.97 | $24,271.44 | $4,946.00 | $19,325.44 | $294,608.97 | — | — | — | $24,271.44 | |
| Jan 01, 2032 – Dec 01, 2032 | $294,608.97 | $24,271.44 | $5,277.22 | $18,994.22 | $289,331.75 | — | — | — | $24,271.44 | |
| Jan 01, 2033 – Dec 01, 2033 | $289,331.75 | $24,271.44 | $5,630.65 | $18,640.79 | $283,701.10 | — | — | — | $24,271.44 | |
| Jan 01, 2034 – Dec 01, 2034 | $283,701.10 | $24,271.44 | $6,007.75 | $18,263.69 | $277,693.35 | — | — | — | $24,271.44 | |
| Jan 01, 2035 – Dec 01, 2035 | $277,693.35 | $24,271.44 | $6,410.11 | $17,861.33 | $271,283.24 | — | — | — | $24,271.44 | |
| Jan 01, 2036 – Dec 01, 2036 | $271,283.24 | $24,271.44 | $6,839.41 | $17,432.03 | $264,443.83 | — | — | — | $24,271.44 | |
| Jan 01, 2037 – Dec 01, 2037 | $264,443.83 | $24,271.44 | $7,297.46 | $16,973.98 | $257,146.37 | — | — | — | $24,271.44 | |
| Jan 01, 2038 – Dec 01, 2038 | $257,146.37 | $24,271.44 | $7,786.17 | $16,485.27 | $249,360.20 | — | — | — | $24,271.44 | |
| Jan 01, 2039 – Dec 01, 2039 | $249,360.20 | $24,271.44 | $8,307.62 | $15,963.82 | $241,052.58 | — | — | — | $24,271.44 | |
| Jan 01, 2040 – Dec 01, 2040 | $241,052.58 | $24,271.44 | $8,864.02 | $15,407.42 | $232,188.56 | — | — | — | $24,271.44 | |
| Jan 01, 2041 – Dec 01, 2041 | $232,188.56 | $24,271.44 | $9,457.63 | $14,813.81 | $222,730.93 | — | — | — | $24,271.44 | |
| Jan 01, 2042 – Dec 01, 2042 | $222,730.93 | $24,271.44 | $10,091.05 | $14,180.39 | $212,639.88 | — | — | — | $24,271.44 | |
| Jan 01, 2043 – Dec 01, 2043 | $212,639.88 | $24,271.44 | $10,766.86 | $13,504.58 | $201,873.02 | — | — | — | $24,271.44 | |
| Jan 01, 2044 – Dec 01, 2044 | $201,873.02 | $24,271.44 | $11,487.93 | $12,783.51 | $190,385.09 | — | — | — | $24,271.44 | |
| Jan 01, 2045 – Dec 01, 2045 | $190,385.09 | $24,271.44 | $12,257.30 | $12,014.14 | $178,127.79 | — | — | — | $24,271.44 | |
| Jan 01, 2046 – Dec 01, 2046 | $178,127.79 | $24,271.44 | $13,078.20 | $11,193.24 | $165,049.59 | — | — | — | $24,271.44 | |
| Jan 01, 2047 – Dec 01, 2047 | $165,049.59 | $24,271.44 | $13,954.06 | $10,317.38 | $151,095.53 | — | — | — | $24,271.44 | |
| Jan 01, 2048 – Dec 01, 2048 | $151,095.53 | $24,271.44 | $14,888.61 | $9,382.83 | $136,206.92 | — | — | — | $24,271.44 | |
| Jan 01, 2049 – Dec 01, 2049 | $136,206.92 | $24,271.44 | $15,885.71 | $8,385.73 | $120,321.21 | — | — | — | $24,271.44 | |
| Jan 01, 2050 – Dec 01, 2050 | $120,321.21 | $24,271.44 | $16,949.60 | $7,321.84 | $103,371.61 | — | — | — | $24,271.44 | |
| Jan 01, 2051 – Dec 01, 2051 | $103,371.61 | $24,271.44 | $18,084.76 | $6,186.68 | $85,286.85 | — | — | — | $24,271.44 | |
| Jan 01, 2052 – Dec 01, 2052 | $85,286.85 | $24,271.44 | $19,295.92 | $4,975.52 | $65,990.93 | — | — | — | $24,271.44 | |
| Jan 01, 2053 – Dec 01, 2053 | $65,990.93 | $24,271.44 | $20,588.22 | $3,683.22 | $45,402.71 | — | — | — | $24,271.44 | |
| Jan 01, 2054 – Dec 01, 2054 | $45,402.71 | $24,271.44 | $21,967.04 | $2,304.40 | $23,435.67 | — | — | — | $24,271.44 | |
| Jan 01, 2055 – Dec 01, 2055 | $23,435.67 | $24,268.88 | $23,435.67 | $833.21 | $0.00 | — | — | — | $24,268.88 |
Open a year to see its months. Scroll the table sideways for taxes, insurance, mortgage insurance, HOA and the all-in monthly total. The CSV includes them all. Printing and the CSV always give you every payment, whatever is shown here.
Solve for what you do not know
The rest of this page fixes the loan and prints the payment. Here you name the answer and it finds the input. Nothing is a quote; these are the figures your own numbers imply.
If I pay this much a month, how long until it is gone?
Principal and interest only, without taxes, insurance or HOA.
The answer
21 years 2 months
The schedule clears in month 254, on Feb 01, 2047.
The term field takes whole years, and this answer is not one, so it is left for you to read rather than applied.
Already have a mortgage?
Compare refinancing, a cash-out, a HELOC, a recast, and extra payments side by side over the years you plan to stay, rather than over a full thirty-year term you probably won’t see out.
What to enter
Price, down payment, rate and term give you the loan payment. Taxes, insurance and any HOA dues give you the monthly cost of the house.
Start with the price and your down payment; the loan amount is the difference. Enter the rate from your Loan Estimate or a lender’s quote. The interest rate sets the principal and interest payment, and even a small change moves the payment on every row of the schedule. Then pick the term, usually 30 or 15 years.
Next, add the costs that come with the house: annual property tax, homeowners insurance, HOA dues if there are any, and mortgage insurance when your down payment is under 20%. Page 1 of the CFPB’s Loan Estimate lists estimated taxes and insurance, so you can check your entries against a real offer. The total the calculator shows is your PITI plus HOA. The cash you need on closing day is a separate figure, which the closing cost calculator works out.
How is a mortgage payment calculated?
With one formula that takes the loan amount, the monthly rate and the number of payments.
The principal and interest payment comes from the formula below, where P is the loan amount, r is the annual rate divided by 12, and n is the number of monthly payments (360 on a 30-year loan). On a $400,000 loan at 6.5% over 30 years, the formula gives $2,528.27 a month, and on a fixed-rate mortgage that figure never changes. An adjustable-rate mortgage runs the same formula again at each reset, using the new rate and the balance left.
payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
Three inputs move the payment: the loan amount, the rate and the term. A longer term lowers the payment and raises the total interest, which the amortization schedule below adds up. Property tax, insurance, PMI and HOA dues come on top of this figure, which is why the total above is higher than a lender’s quote (the PITI guide covers the difference). To start from your income instead of a price, the affordability calculator works back to the most you can spend.
How mortgage amortization works
It is three lines of arithmetic, repeated once a month for thirty years.
Each month, interest is calculated on the balance you still owe: balance × (annual rate ÷ 12). Whatever remains of your payment goes to principal. Because the balance falls a little each month, the interest portion shrinks and the principal portion grows, and that continues for the life of the loan.
That is why early payments are so interest-heavy. On a $400,000 30-year loan at 6.5%, $2,166.67 of the first $2,528.27 payment is interest. Principal doesn’t overtake interest until payment 233, in year 20.
interest = balance × (rate ÷ 12)
principal = payment − interest
new balance = balance − principal − extra principal
A 30-year schedule at five-year intervals
$400,000 borrowed at 6.5% for 30 years, using the yearly totals from the annual view.
| Year | Interest paid | Principal paid | Balance at year end |
|---|---|---|---|
| 1 | $25,868 | $4,471 | $395,529 |
| 5 | $24,545 | $5,794 | $374,444 |
| 10 | $22,327 | $8,013 | $339,105 |
| 15 | $19,259 | $11,080 | $290,237 |
| 20 | $15,018 | $15,321 | $222,662 |
| 25 | $9,153 | $21,187 | $129,218 |
| 30 | $1,042 | $29,300 | $0 |
Interest and principal are the totals paid during that year, rounded to the dollar. The calculator above produces the same figures for this loan.
Every principal and interest payment is the same $2,528.27; the split inside it is what changes. The interest paid each year falls slowly for twenty years, then quickly. After ten years of payments you still owe $339,105, and the balance doesn’t fall to half the original loan until payment 257. Over the full term the interest comes to $510,180, more than the $400,000 borrowed.
To read the amortization schedule for a loan you already have, enter a price and down payment that leave your original loan amount, then your rate, term and first payment date. If you haven’t paid extra, the row for this month is close to what you owe now. Your servicer’s monthly statement must show how your last payment was split between principal, interest and escrow (the CFPB’s periodic statement rule requires it), so you can check one row against it. A gap of a few dollars is normal; a large one means the loan amount, rate or start date you entered doesn’t match your loan.
What each column means
The first seven columns track the loan. The last four add the costs that come with the house, and the total you pay.
| Column | What it tells you |
|---|---|
| Month | The payment number, counting from your first payment |
| Payment date | When that payment is due, based on your start date |
| Beginning balance | What you owed before the payment |
| Payment | The scheduled principal and interest collected |
| Principal | The part that reduces what you owe |
| Interest | The cost of borrowing, which buys you nothing |
| Ending balance | What you owe after the payment |
| Taxes & insurance | The escrow portion: property tax and homeowners insurance, one twelfth of each annual figure |
| Mortgage insurance | Charged while the balance is above 80% of the purchase price, and nothing after |
| HOA | Dues, if the property has them. The lender does not escrow them, but you still pay them |
| Total monthly cost | Everything above added together: the figure that leaves your account |
The escrow columns are level across the schedule as entered. Real tax bills and premiums move every year, often faster than inflation. This calculator can’t know by how much, so it holds them steady to keep the effect of the loan itself readable.
The final payment is normally a few dollars different from the others. That is not an error: the scheduled payment is rounded to whole cents, and the small rounding difference accumulates over the term. Servicers absorb it into the last payment rather than issuing an extra bill, and this calculator does the same.
Why front-loading matters
It changes the outcome of two common mortgage decisions.
The interest-heavy start is not a lender trick. It follows directly from charging interest on the outstanding balance, and it has two practical consequences:
- Refinancing resets you to the start of the curve. Eight years into a 30-year loan you have finally reached the part where meaningful principal is being retired. A fresh 30-year term puts you back at the interest-heavy beginning, which is how a lower rate can still produce more total interest. The refinance calculator shows the break-even that decides it.
- Extra payments do the most when they come early. A dollar of principal removed in year two eliminates far more future interest than the same dollar in year twenty. See the extra payment calculator.
Downloading and printing
Both work entirely offline, in your browser.
“Download CSV” builds the file in your browser, so no server sees your figures. The file includes a UTF-8 byte-order mark so Excel reads currency symbols correctly, uses CRLF line endings, and writes numbers unformatted so spreadsheets parse them as values rather than text. It opens directly in Excel, Google Sheets and Numbers, and carries the escrow columns and the total alongside principal and interest.
“Print results” uses a print stylesheet that removes navigation, buttons and ads, keeps table headers repeating across pages, and avoids breaking rows in half. It produces a clean PDF through your browser’s “Save as PDF” option.
Amortization schedule questions
- How is each month's interest calculated?
- Interest for a month equals the remaining balance multiplied by the monthly rate, which is the annual rate divided by twelve. Whatever is left of the payment goes to principal. Because the balance falls each month, the interest portion shrinks and the principal portion grows.
- Why is so much of my early payment interest?
- Because interest is charged on the balance, and the balance is at its largest at the start. On a 30-year loan at 6.5%, roughly three-quarters of the first payment is interest. This front-loading is exactly why refinancing into a fresh 30-year term can raise total interest even at a lower rate.
- Can I download the amortization schedule?
- Yes. Every scenario has a Download CSV button that generates the file in your browser with no server involved. The file opens directly in Excel, Google Sheets and Numbers, with numbers written unformatted so spreadsheets parse them as values rather than text.