Mortgage Calculator
Work out the monthly payment on a home loan — P&I plus tax, insurance and HOA — with loan amount, total interest and a yearly amortization table.
P&I = L × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where L is the loan (price − down payment), r the monthly rate (annual ÷ 12 ÷ 100) and n the months. PITI adds monthly shares of yearly property tax and insurance plus HOA. Rates here are an example input, not an offer.
Yearly amortization schedule
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | $2,947.23 | $14,319.83 | $237,052.77 |
| 2 | $3,129.01 | $14,138.05 | $233,923.77 |
| 3 | $3,322 | $13,945.06 | $230,601.77 |
| 4 | $3,526.89 | $13,740.16 | $227,074.88 |
| 5 | $3,744.42 | $13,522.63 | $223,330.46 |
| 6 | $3,975.37 | $13,291.69 | $219,355.09 |
| 7 | $4,220.56 | $13,046.49 | $215,134.53 |
| 8 | $4,480.88 | $12,786.18 | $210,653.65 |
| 9 | $4,757.25 | $12,509.81 | $205,896.4 |
| 10 | $5,050.66 | $12,216.39 | $200,845.74 |
| 11 | $5,362.18 | $11,904.88 | $195,483.56 |
| 12 | $5,692.9 | $11,574.15 | $189,790.66 |
| 13 | $6,044.03 | $11,223.02 | $183,746.63 |
| 14 | $6,416.81 | $10,850.24 | $177,329.81 |
| 15 | $6,812.59 | $10,454.47 | $170,517.23 |
| 16 | $7,232.77 | $10,034.28 | $163,284.45 |
| 17 | $7,678.88 | $9,588.18 | $155,605.58 |
| 18 | $8,152.49 | $9,114.56 | $147,453.09 |
| 19 | $8,655.32 | $8,611.74 | $138,797.77 |
| 20 | $9,189.16 | $8,077.89 | $129,608.61 |
| 21 | $9,755.93 | $7,511.13 | $119,852.68 |
| 22 | $10,357.65 | $6,909.4 | $109,495.03 |
| 23 | $10,996.49 | $6,270.57 | $98,498.54 |
| 24 | $11,674.73 | $5,592.33 | $86,823.81 |
| 25 | $12,394.8 | $4,872.25 | $74,429.01 |
| 26 | $13,159.28 | $4,107.77 | $61,269.72 |
| 27 | $13,970.92 | $3,296.13 | $47,298.8 |
| 28 | $14,832.62 | $2,434.44 | $32,466.19 |
| 29 | $15,747.46 | $1,519.6 | $16,718.73 |
| 30 | $16,718.73 | $548.33 | $0 |
This tool runs entirely in your browser. Your data never leaves your device — it is not uploaded to any server.
How to use
- 1Enter the home price and the down payment as a percent or an amount.
- 2Set the annual interest rate and the term in years.
- 3Optionally add yearly property tax, yearly insurance and monthly HOA dues.
- 4Read the monthly P&I, the PITI total and the yearly amortization table.
Mortgage Calculator
Enter the home price, down payment, interest rate and term to get the monthly principal-and-interest payment from the standard amortization formula banks use. Add yearly property tax, yearly insurance and monthly HOA dues to see the full PITI amount most lenders quote.
The loan amount, the total interest over the life of the loan and a year-by-year amortization table update live as you type, so you can compare a 20% down payment against 10%, or a 15-year term against 30, in seconds.
Frequently asked questions
What formula does the mortgage calculator use?
The standard fixed-rate amortization formula: M = L × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where L is the loan amount (price minus down payment), r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months. As an example, a 300,000 home with 20% down at 6% over 30 years gives a monthly P&I of about 1,438.92 — the rate you enter is an example input, not an offer.
What does PITI mean?
Principal, Interest, Taxes and Insurance — the four parts of a typical monthly housing payment. The tool adds monthly twelfths of the yearly property tax and insurance you enter, plus HOA dues, on top of the principal-and-interest payment. Whether taxes and insurance are escrowed varies by lender.
Why do I pay so much interest in the early years?
Interest each month is charged on the remaining balance, which is largest at the start. The amortization table shows the crossover: early payments are mostly interest, and by the final years they are almost all principal. Extra principal payments early in the loan therefore save the most interest.
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