Know Your True Monthly Housing Cost Before You Buy
Enter home price, down payment, rate, and term to get the full picture: principal and interest, taxes, insurance, HOA, total interest paid, and a month-by-month amortization table.
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Mortgage Calculator
Calculate your monthly payment, total interest, and full amortization schedule for any home loan.
Loan Details
LTV: 80%
This calculator is for educational purposes only. Consult a mortgage professional for personalized advice.
Full Monthly Cost Breakdown
The calculator separates principal and interest from the add-on costs many tools ignore. Add monthly property tax, homeowners insurance, and HOA fees to see the true all-in payment, not just the loan component.
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Month-by-Month Amortization Table
The Amortization tab shows exactly how each payment is split between principal and interest for every month of the loan. Watch the balance shrink and the principal share grow over time.
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Refinance Breakeven Analysis
Already have a mortgage? Enter a new rate and estimated closing costs to find out exactly how many months it will take to recoup the refinancing cost through lower monthly payments.
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Enter your loan details
Input the home price, down payment percentage, annual interest rate, and loan term. Optionally add monthly property tax, insurance, and HOA to get the all-in payment.
Click Calculate
The calculator applies the standard amortization formula to your loan amount (home price minus down payment) and produces your monthly payment, total interest, and full payment schedule.
Explore the Amortization and Insights tabs
Switch to Amortization for the month-by-month table, or Insights for a payment breakdown, loan summary, and balance milestones at 5, 10, 15, and 20 years.
Deep Dive
How the Calculator Works
The calculator applies the standard fixed-rate amortization formula and separates the loan payment from add-on housing costs to give you an accurate all-in monthly figure.
What the Calculator Covers
All-In Monthly Cost
Combines P+I, taxes, insurance, and HOA in one total so there are no surprises.
Full Amortization Table
Month-by-month breakdown of every payment, principal, interest, and balance.
Refinance Analysis
Instantly calculate the breakeven point for any refinance scenario.
Balance Milestones
See your remaining balance at 5, 10, 15, and 20 years to track equity build-up.
Who Uses It
Who Uses This Calculator
Anyone buying, owning, or planning to refinance a home.
Frequently Asked Questions
What inputs does the calculator need?
The required inputs are home price, down payment percentage, annual interest rate, and loan term in years. Monthly property tax, homeowners insurance, and HOA fee are optional fields that add to the all-in monthly payment total without affecting the amortization calculation.
How does the loan term affect my payment and total cost?
A 30-year term produces a lower monthly payment but results in significantly more total interest paid over the life of the loan. A 15-year term roughly doubles the monthly payment on the same loan amount but typically cuts total interest by 50% or more because the principal is paid down twice as fast.
Does the calculator include property taxes and insurance?
Yes. Enter your estimated monthly property tax, homeowners insurance, and HOA fee in the optional fields. The calculator adds these to the principal and interest payment and shows both the base P+I and the total all-in monthly cost.
What is an amortization schedule?
An amortization schedule is a month-by-month table showing how each payment is divided between principal reduction and interest cost, and what the remaining loan balance will be after that payment. In the early years, most of each payment is interest; this ratio gradually shifts toward principal as the balance decreases.
What does the refinance breakeven tell me?
The breakeven point is the number of months you need to stay in the home after refinancing before the accumulated monthly savings exceed the one-time closing costs. If you plan to sell or move before that point, refinancing likely costs more than it saves. A breakeven under 24 months is generally considered favorable.
What is PMI and when is it required?
Private Mortgage Insurance (PMI) is required by most lenders when your down payment is less than 20% of the home price, meaning the loan-to-value ratio exceeds 80%. PMI typically costs 0.5% to 1.5% of the loan amount per year. You can model its cost by adding the monthly PMI amount to the insurance field.
Can I compare a 15-year vs. 30-year mortgage?
Yes. Run the calculator twice with the same inputs but different term values. The Insights tab shows total interest paid and the full loan summary for each scenario, making it straightforward to compare lifetime cost against the difference in monthly payment.
Ready to Run Your Numbers?
Enter your home price and loan details to get a complete payment breakdown and amortization schedule in seconds.