Mortgage Calculator
Calculate monthly mortgage payments with taxes, insurance, and PMI. Plan your home purchase!
Monthly Payment
$1,867
30-year fixed at 6.5%
Loan Amount
$240,000
Total Interest
$306,107
Down Payment
20%
Monthly Payment Breakdown
Principal & Interest$1,517
Property Tax$250
Home Insurance$100
Total$1,867
First 5 Years Amortization
| Year | Principal | Interest | Balance |
|---|---|---|---|
| Year 1 | $2,683 | $15,521 | $237,317 |
| Year 2 | $2,862 | $15,341 | $234,455 |
| Year 3 | $3,054 | $15,150 | $231,401 |
| Year 4 | $3,258 | $14,945 | $228,143 |
| Year 5 | $3,477 | $14,727 | $224,666 |
Features
- Monthly payment
- Include taxes/insurance
- PMI calculation
- Total interest
- Payment breakdown
- Amortization preview
How to Use
- 1Enter home price
- 2Set down payment
- 3Enter interest rate
- 4Add taxes & insurance
Frequently Asked Questions
What is PMI?
Private Mortgage Insurance, required when down payment is less than 20%.
Should I include taxes?
Yes! Property taxes and insurance are usually escrowed into your monthly payment.
15 vs 30 year mortgage?
15-year has higher payments but much less total interest. 30-year is more affordable monthly.
How much should I put down?
20% avoids PMI, but many buy with 3-10% down. Consider your savings and goals.