Your plan
- Home price
- $450,000
- Down payment
- $90,000
- Monthly housing cost
- $2,905
- Total interest
- $480,583
Mortgage calculator
See what a mortgage rate means for your monthly payment and complete housing cost. Your numbers stay on this device.
Your scenario
Note rate, not APR.
Sets illustrative tax and insurance estimates.
Improve accuracyProperty tax, insurance, mortgage insurance and HOA
Illustrative estimate
Illustrative estimate
Mortgage insurance is not automatically estimated. Add an amount if it applies.
Your amount
Example estimate
Estimated total housing cost
$2,905 / month
Correct the highlighted field to update your estimate.
Estimated mortgage payment, excluding HOA — $2,860
Educational estimate only. This tool does not provide a loan offer, approval, qualification decision, payoff statement, servicing record, tax advice, legal advice, or individualized financial advice. Results depend on the assumptions entered and may differ from lender, servicer, insurer, tax authority, HOA, or closing documents.
Monthly breakdown
- Principal and interest
- $2,335
- Property tax
- $375
- Homeowners insurance
- $150
- Mortgage insurance
- Not included
- HOA dues
- $45
- Estimated total housing cost
- $2,905
Does not include closing costs, utilities, maintenance, special assessments, flood insurance or future changes to taxes, insurance, or HOA dues.
Loan summary
- Loan amount
- $360,000
- Total modeled interest
- $480,583
- Payoff term
- 30 years
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Restore the example and try again. If the problem continues, review the corrections process.
Report a calculation problemCompare home prices
See how a 10% lower or higher home price changes the estimate. This does not assess what you can afford.
Scenario Home price Down payment Monthly housing cost Total interest
Lower price 10% less $405,000 $81,000 $2,619 $432,525
Your plan $450,000 $90,000 $2,905 $480,583
Higher price 10% more $495,000 $99,000 $3,191 $528,641
Lower price 10% less
- Home price
- $405,000
- Down payment
- $81,000
- Monthly housing cost
- $2,619
- Total interest
- $432,525
Higher price 10% more
- Home price
- $495,000
- Down payment
- $99,000
- Monthly housing cost
- $3,191
- Total interest
- $528,641
Comparisons keep your down-payment percentage, rate, term and HOA unchanged.
How your balance changes
Estimated remaining balance
Your balance usually falls slowly at first because more of each early payment goes to interest.
- Loan amount
- $360,000
- Monthly principal and interest
- $2,335
- Total principal
- $360,000
- Total interest
- $480,583
- Payoff term
- 30 years
Accessible balance data
| Year | Remaining balance |
|---|---|
| 0 | $360,000 |
| 5 | $337,953 |
| 10 | $307,084 |
| 15 | $263,864 |
| 20 | $203,350 |
| 25 | $118,625 |
| 30 | $0 |
Amortization scheduleAnnual payment details
See how each payment is divided between principal and interest.
Annual summary
| Year | Starting balance | Principal paid | Interest paid | Ending balance |
|---|---|---|---|---|
| 1 | $360,000 | $3,837 | $24,183 | $356,163 |
| 2 | $356,163 | $4,104 | $23,916 | $352,059 |
| 3 | $352,059 | $4,390 | $23,630 | $347,670 |
| 4 | $347,670 | $4,695 | $23,324 | $342,975 |
| 5 | $342,975 | $5,022 | $22,997 | $337,953 |
Amortization scheduleAnnual payment details
See how each payment is divided between principal and interest.
Annual summary
| Year | Starting balance | Principal paid | Interest paid | Ending balance |
|---|---|---|---|---|
| 1 | $360,000 | $3,837 | $24,183 | $356,163 |
| 2 | $356,163 | $4,104 | $23,916 | $352,059 |
| 3 | $352,059 | $4,390 | $23,630 | $347,670 |
| 4 | $347,670 | $4,695 | $23,324 | $342,975 |
| 5 | $342,975 | $5,022 | $22,997 | $337,953 |
Assumptions and limitations
The rate is a user-entered illustrative note rate, not APR or a loan offer. Included: principal and interest, property tax, homeowners insurance and HOA dues. Not included: mortgage insurance, closing costs, utilities, maintenance, special assessments, flood insurance and future cost changes.
Included
Principal and interest, property tax, homeowners insurance and HOA dues.
Not included
Mortgage insurance, closing costs, utilities, maintenance, special assessments, flood insurance and future cost changes.
Rate meaning
User-entered illustrative note rate, not APR and not a loan offer.
How this calculator works
Principal and interest use the standard fixed-rate amortization formula. Calculations happen locally in your browser.
M = P × (r(1 + r)n) / ((1 + r)n − 1)
Check the calculation and sourcesWorked example
$400,000 home $80,000 down $320,000 loan
Illustrative 6.5% note rate 30 years
- Principal and interest
- $2,022.62
- Estimated housing cost
- $2,505.95
- Total modeled interest
- $408,142.36
Illustration only, not today’s rate or an available offer.
Review formulas and primary sources Read the corrections policy
Mortgage calculator questions
Does this calculator include taxes and insurance?
Yes. The example includes illustrative property tax and homeowners insurance amounts that you can replace with your own estimates.
Is the mortgage interest rate the same as APR?
No. The note rate is used for the payment calculation; APR can also reflect certain borrowing costs.
Why might my lender’s payment differ?
A lender may use different tax, insurance, mortgage-insurance, escrow, fee, or timing assumptions.