Mortgage Calculator — Monthly Payment, PITI & Amortization
Calculate your monthly mortgage payment with taxes, insurance and PMI. See the full amortization schedule, total interest, and how extra payments pay off your loan sooner.
Loan Details
Estimated Monthly Payment
$2,000
Principal & interest
- Principal & Interest
- $2,000
- Loan Amount
- $320,000
- Total Interest
- $399,829
- Payoff
- May 2056
Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,652 | $20,342 | $316,348 |
| 2 | $3,892 | $20,102 | $312,456 |
| 3 | $4,148 | $19,846 | $308,307 |
| 4 | $4,421 | $19,573 | $303,886 |
| 5 | $4,712 | $19,282 | $299,173 |
| 6 | $5,023 | $18,972 | $294,151 |
| 7 | $5,353 | $18,641 | $288,798 |
| 8 | $5,705 | $18,289 | $283,092 |
| 9 | $6,081 | $17,914 | $277,012 |
| 10 | $6,481 | $17,513 | $270,531 |
| 11 | $6,907 | $17,087 | $263,624 |
| 12 | $7,362 | $16,632 | $256,262 |
| 13 | $7,846 | $16,148 | $248,415 |
| 14 | $8,363 | $15,632 | $240,053 |
| 15 | $8,913 | $15,081 | $231,140 |
| 16 | $9,499 | $14,495 | $221,640 |
| 17 | $10,125 | $13,870 | $211,516 |
| 18 | $10,791 | $13,203 | $200,725 |
| 19 | $11,501 | $12,493 | $189,224 |
| 20 | $12,258 | $11,737 | $176,966 |
| 21 | $13,064 | $10,930 | $163,902 |
| 22 | $13,924 | $10,070 | $149,978 |
| 23 | $14,840 | $9,154 | $135,137 |
| 24 | $15,817 | $8,177 | $119,320 |
| 25 | $16,858 | $7,137 | $102,463 |
| 26 | $17,967 | $6,027 | $84,496 |
| 27 | $19,149 | $4,845 | $65,346 |
| 28 | $20,410 | $3,585 | $44,937 |
| 29 | $21,753 | $2,242 | $23,184 |
| 30 | $23,184 | $810 | $0 |
Latest Mortgage Rate News
Fed holds rates at 4.25–4.50% — May 23 week: next FOMC is June 17–18, first rate cut still consensus-priced for September 2026
Reuters · 2026-05-23 · Policy
30-year fixed mortgage rate week of May 23: 6.39% — four-week decline streak continues; refinance activity up 18% year-over-year
Freddie Mac · 2026-05-23 · Home Loan
Rates are indicative and updated weekly. Confirm current rates with your lender before applying.
About This Tool
More than a monthly payment estimate
Most mortgage calculators stop at principal and interest. This one shows your full PITI payment — property tax, home insurance, PMI and HOA included — so you see what you’ll actually pay each month.
Add an extra monthly payment and watch the interest saved and payoff date update in real time. The year-by-year amortization schedule shows exactly how your balance shrinks over the life of the loan.
Full PITI
Principal, interest, taxes, insurance — the real monthly cost.
Extra Payments
See interest saved and how many years sooner you'd be debt-free.
Amortization Table
Year-by-year principal vs interest and remaining balance.
Auto PMI
PMI added automatically when your down payment is under 20%.
5 Currencies
USD, GBP, EUR, CAD and AUD for US, UK, EU, Canada & Australia.
Live Rate News
Weekly-updated mortgage and central-bank rate news.
Quick Start
How to Calculate Your Mortgage
Enter Home Price & Down Payment
Type the price and drag the down-payment slider. PMI is added automatically under 20%.
Set Rate & Term
Add the APR and pick a 15, 20 or 30-year term. The payment updates instantly.
Add Taxes & Insurance
Expand the PITI section to include property tax, home insurance, and HOA.
Try Extra Payments
Add an extra monthly amount to see interest saved and a sooner payoff date.
Use Cases
Who Uses This Calculator
First-Time Buyers
See the full monthly cost — including taxes and PMI — before making an offer.
Refinancers
Compare a new rate and term against your current loan to check if refinancing pays off.
Extra-Payment Planners
Find out how an extra $100 or $200 a month saves years of interest.
Home Shoppers
Test different home prices and down payments to find a payment that fits your budget.
15 vs 30 Year
Toggle the term to compare the higher payment of a 15-year against the lower total interest.
International Buyers
Switch currency for US, UK, EU, Canadian or Australian mortgages.
FAQ
Frequently Asked Questions
Principal and interest use M = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly rate (APR ÷ 12 ÷ 100), and n is the number of months. Property tax, insurance, PMI and HOA are added on top for your full PITI payment.
Principal, Interest, Taxes and Insurance — the four parts of a typical monthly mortgage payment. The calculator breaks each out and totals them so you see the real monthly cost.
Usually when your down payment is under 20% (loan-to-value above 80%). The calculator auto-estimates PMI at ~0.5% of the loan per year while you're under 20% equity.
Extra monthly principal cuts total interest and shortens the term. Enter an extra amount to see the exact interest saved and how many years and months sooner the loan is paid off.
A year-by-year breakdown of principal vs interest paid and the remaining balance. Early years are interest-heavy; later years pay down more principal.
Yes — a higher monthly payment but a lower rate and far less total interest than a 30-year. Use the term toggle to compare.
Yes. Expand 'taxes, insurance & HOA' to add property tax, home insurance and HOA — the calculator then shows your full PITI payment, not just principal and interest.
Enter your loan details plus any extra monthly payment. The calculator shows the exact payoff month and how many years sooner extra payments make you mortgage-free.
Yes. Completely free, no sign-up, no data stored. Calculations run entirely in your browser.