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
$
$
%
%
% of home value per year
$
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.