Estimate your monthly mortgage payment including principal, interest, property taxes, insurance, and PMI for one or more properties.
Total Monthly Payment
Total P&I Paid
Total Interest Paid
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% of home value per year
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Annual premium amount
Show Amortization Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Closing Balance |
|---|---|---|---|---|
| 1 | $320,000 | $3,251 | $22,297 | $316,749 |
| 2 | $316,749 | $3,486 | $22,062 | $313,264 |
| 3 | $313,264 | $3,738 | $21,810 | $309,526 |
| 4 | $309,526 | $4,008 | $21,540 | $305,519 |
| 5 | $305,519 | $4,297 | $21,250 | $301,221 |
| 6 | $301,221 | $4,608 | $20,939 | $296,613 |
| 7 | $296,613 | $4,941 | $20,606 | $291,672 |
| 8 | $291,672 | $5,298 | $20,249 | $286,373 |
| 9 | $286,373 | $5,681 | $19,866 | $280,692 |
| 10 | $280,692 | $6,092 | $19,455 | $274,600 |
| 11 | $274,600 | $6,533 | $19,015 | $268,067 |
| 12 | $268,067 | $7,005 | $18,543 | $261,062 |
| 13 | $261,062 | $7,511 | $18,036 | $253,551 |
| 14 | $253,551 | $8,054 | $17,493 | $245,497 |
| 15 | $245,497 | $8,636 | $16,911 | $236,860 |
| 16 | $236,860 | $9,261 | $16,287 | $227,600 |
| 17 | $227,600 | $9,930 | $15,617 | $217,669 |
| 18 | $217,669 | $10,648 | $14,900 | $207,021 |
| 19 | $207,021 | $11,418 | $14,130 | $195,603 |
| 20 | $195,603 | $12,243 | $13,304 | $183,360 |
| 21 | $183,360 | $13,128 | $12,419 | $170,232 |
| 22 | $170,232 | $14,077 | $11,470 | $156,155 |
| 23 | $156,155 | $15,095 | $10,453 | $141,060 |
| 24 | $141,060 | $16,186 | $9,361 | $124,873 |
| 25 | $124,873 | $17,356 | $8,191 | $107,517 |
| 26 | $107,517 | $18,611 | $6,937 | $88,906 |
| 27 | $88,906 | $19,956 | $5,591 | $68,950 |
| 28 | $68,950 | $21,399 | $4,149 | $47,551 |
| 29 | $47,551 | $22,946 | $2,602 | $24,605 |
| 30 | $24,605 | $24,605 | $943 | $0 |
The principal & interest (P&I) payment is calculated using the standard amortization formula: the fixed monthly payment that fully retires the loan over the chosen term at the given interest rate. The loan amount is your home price minus your down payment.
Property tax is estimated as a percentage of home value per year, divided by 12 for the monthly portion. Home insurance is your annual premium divided by 12. Both are included in the total monthly payment (PITI).
Private Mortgage Insurance (PMI) applies when your down payment is less than 20% of the home price (LTV above 80%). PMI is estimated at 0.8% of the loan amount per year and is shown as a separate chip. Once your equity reaches 20%, you can typically request cancellation of PMI.
A mortgage is a loan secured by your home. The lender advances the purchase price minus your down payment, and you pay it back in fixed monthly installments over a set term — usually 15 to 30 years. Every payment is split two ways:
This split follows an amortization schedule. Early on, most of each payment goes to interest and only a little to principal; as the balance falls, that flips. Understanding the pattern is the key to knowing when extra payments or refinancing will save you the most.
The monthly figure most people quote is really a bundle of four costs, known together as PITI:
Our home repayment calculator reflects all four, so the monthly number you see is the full picture rather than just principal and interest.
A mortgage payment schedule — or amortization table — shows, year by year, how each payment is applied over the life of the loan. Every row in the home loan repayment schedule lists:
The big takeaway is how slowly equity builds at first — in the early years, the interest share is high and your balance barely moves, even though you have paid in a lot. Seeing that laid out is what motivates strategies like extra payments or a shorter term. Our calculator surfaces this yearly view in the expandable amortization section of each mortgage card.
The purchase price is only the starting point. The total cost of a mortgage over 30 years is often close to double the original loan amount once interest is added in — which is why small changes have outsized long-run effects. The biggest levers are:
The Total Interest Paid tile at the top of our calculator updates the moment you change any input, so you can see the long-run cost of each scenario as you build it.
The term you pick is one of the most consequential mortgage decisions. The trade-off is straightforward:
A home loan tenure calculator lets you weigh these side by side. Add two mortgages in our calculator — one at 15 years and one at 30, with everything else equal — and the summary tiles show the payment and interest difference instantly. If the shorter payment fits your budget, the savings are usually compelling; if not, a longer term with voluntary extra payments is a flexible middle path.
Any amount you pay above the required payment goes straight to principal, which lowers the interest charged every month afterward. Because interest builds on the remaining balance, extra payments made early have the biggest effect. A mortgage calculator with multiple extra payments lets you test the common approaches:
Use our multi-property comparison to model aggressive repayment of your housing loan against other scenarios. Just confirm with your lender that no prepayment penalty applies before committing to a strategy.
Your down payment and monthly payment are only part of the cash a purchase requires. Fees when buying a house at closing typically add a few percent of the purchase price on top of the down payment. The common line items include:
Some lenders roll certain fees into the loan; others want them at the table, and a few are negotiable. Request a Loan Estimate from your lender within three days of applying — it itemizes every anticipated fee on a standardized form, so you can compare lenders on equal footing.
Refinancing replaces your current mortgage with a new loan, ideally at a lower rate or shorter term. It tends to make sense when a few conditions line up:
A mortgage refinance calculator with taxes adds one more layer: because mortgage interest is deductible if you itemize, your effective after-tax rate is lower than the face rate, which matters when comparing loans. To model it here, enter your current loan in one card and the refinance in another with its rate and remaining term — the total interest difference in the summary tiles shows the long-run savings before closing costs.
Many borrowers track their loan with an amortization schedule calculator in Excel, building it from the PMT function and a row per month. A spreadsheet is flexible — you can add extra-payment columns and scenario tabs — but it takes setup and upkeep. An online calculator trades that control for speed:
Our calculator leans into the online strengths: the yearly repayment schedule regenerates instantly for any inputs, and comparing a second scenario just means adding another card instead of duplicating a spreadsheet tab. For planning and rate shopping it is faster; for granular ongoing tracking, a spreadsheet built on the same logic still has its place.
How does a home repayment calculator work?
A home repayment calculator takes your loan amount (home price minus down payment), interest rate, and term, then uses the standard amortization formula to find the fixed monthly payment that pays off the balance over that term. It splits each payment between interest and principal to build your full home loan repayment schedule, and adding property tax, insurance, and PMI gives you the complete PITI monthly cost.
What does a mortgage payment schedule show?
A mortgage payment schedule — or amortization table — shows, period by period, how each payment splits between interest and principal, how much equity you have built, and your remaining balance. Early in the term the interest share is high and principal reduction is slow; that reverses as the balance falls. It also makes it easy to spot when your loan-to-value drops below 80%, the point where you can usually cancel PMI.
How much interest do I pay over the life of a 30-year mortgage?
It depends on your loan amount and interest rate, but over a full 30-year term the total interest often approaches the size of the original loan itself. Even a single percentage point on the rate can change the total by a large margin. The Total Interest Paid tile in the summary updates instantly as you adjust the rate, term, and down payment, so you can see the effect for your own numbers.
What closing costs and fees should I budget when buying a house?
Plan on a few percent of the purchase price in closing costs beyond your down payment. Typical items include the loan origination fee, appraisal and inspection, title search and insurance, settlement or attorney fees, prepaid taxes and insurance, and government recording fees. Request a Loan Estimate from your lender within three days of applying — it lists every anticipated fee on a standardized form so you can compare lenders easily.
When does mortgage refinancing make financial sense?
Refinancing usually makes sense when you can lower your rate by a meaningful margin, plan to stay in the home long enough to recoup the closing costs, and your credit qualifies you for the better rate. To find the break-even, divide your closing costs by your monthly savings. Factoring in the mortgage interest tax deduction on your after-tax rate can sharpen the comparison further.
How do extra payments reduce my home loan?
Extra payments go straight to principal, which lowers the interest you are charged every month afterward. Because interest builds on the remaining balance, prepayments made early in the term have the greatest impact — even a modest extra amount each month can shave years off a 30-year loan and save a substantial amount of interest. Just confirm with your lender that no prepayment penalty applies first.