Mortgage Calculator
Estimate your monthly mortgage payment including down payment, property tax and home insurance, and see the total cost. Free calculator.
%
years
Monthly payment$2,161.46
Principal & interest$1,769.79
Tax, insurance & fees$391.67
Loan amount$280,000.00
Total interest$357,124.57
Total of all payments$778,124.57
Formula
M = L × r ÷ (1 − (1 + r)^−n)L = loan, r = monthly rate, n = number of monthsAmortisation by year
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | $3,129.63 | $18,107.85 | $276,870.37 |
| 2 | $3,339.23 | $17,898.26 | $273,531.14 |
| 3 | $3,562.86 | $17,674.62 | $269,968.28 |
| 4 | $3,801.47 | $17,436.01 | $266,166.80 |
| 5 | $4,056.07 | $17,181.42 | $262,110.74 |
| 6 | $4,327.71 | $16,909.78 | $257,783.03 |
| 7 | $4,617.54 | $16,619.94 | $253,165.49 |
| 8 | $4,926.79 | $16,310.70 | $248,238.70 |
| 9 | $5,256.74 | $15,980.74 | $242,981.95 |
| 10 | $5,608.80 | $15,628.69 | $237,373.15 |
| 11 | $5,984.43 | $15,253.06 | $231,388.72 |
| 12 | $6,385.22 | $14,852.27 | $225,003.51 |
| 13 | $6,812.85 | $14,424.64 | $218,190.66 |
| 14 | $7,269.12 | $13,968.37 | $210,921.54 |
| 15 | $7,755.94 | $13,481.54 | $203,165.60 |
| 16 | $8,275.37 | $12,962.11 | $194,890.22 |
| 17 | $8,829.59 | $12,407.89 | $186,060.63 |
| 18 | $9,420.92 | $11,816.56 | $176,639.71 |
| 19 | $10,051.86 | $11,185.62 | $166,587.84 |
| 20 | $10,725.05 | $10,512.43 | $155,862.79 |
| 21 | $11,443.33 | $9,794.16 | $144,419.46 |
| 22 | $12,209.71 | $9,027.77 | $132,209.75 |
| 23 | $13,027.42 | $8,210.07 | $119,182.33 |
| 24 | $13,899.89 | $7,337.60 | $105,282.44 |
| 25 | $14,830.79 | $6,406.70 | $90,451.65 |
| 26 | $15,824.04 | $5,413.45 | $74,627.62 |
| 27 | $16,883.80 | $4,353.69 | $57,743.82 |
| 28 | $18,014.54 | $3,222.95 | $39,729.28 |
| 29 | $19,221.01 | $2,016.48 | $20,508.27 |
| 30 | $20,508.27 | $729.21 | $0.00 |
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How to use Mortgage Calculator
- Enter the home price, down payment, rate and term.
- Add yearly property tax, insurance and any monthly fees.
- See the monthly payment and the year-by-year amortisation.
Good to know
- Results are estimates for planning, not financial advice.
- Your lender's figures may include fees or mortgage insurance not shown here.
Privacy
Runs entirely in your browser. Nothing you enter or open here is uploaded.
Questions
Why is so much of the early payment interest?
Interest is charged on the remaining balance, which is largest at the start. As the balance falls, more of each payment goes to principal.