Calculate your monthly mortgage payment with visual breakdown
Enter a home price, down payment, interest rate, and loan term, and see your monthly payment with a breakdown chart of principal and interest — plus optional property tax, insurance, and HOA inputs for a realistic total monthly cost. Everything computes locally in your browser; no signup, no lead-capture forms, and your numbers are never sent anywhere.
The calculation uses the standard amortization formula, the same one lenders use to set fixed-rate payments.
A $500,000 home with 20% down ($100,000) leaves a $400,000 loan. At 6.5% for 30 years, principal and interest come to about $2,528 per month. Add roughly $520 in property tax (1.25% annually) and $150 for insurance and you're near $3,200 all-in. Run the same loan at 15 years and the payment jumps to about $3,484 — but total interest over the life of the loan falls from roughly $510,000 to $227,000.
Interest accrues on the outstanding balance, which is largest at the start. On a 30-year loan your first payments are mostly interest, and the split shifts toward principal only gradually — you typically cross 50/50 well past the halfway point of the term.
Private mortgage insurance (usually required below 20% down), closing costs, points, and maintenance. Add PMI as a rough 0.3–1.5% of the loan amount per year if your down payment is under 20%.
A lot — on a $400,000 30-year loan, each half-point of rate moves the payment by roughly $130 per month and total interest by close to $47,000. It's usually the single most impactful number to shop.
A bigger down payment lowers the monthly payment, may eliminate PMI, and reduces total interest — but locks up liquidity. The calculator lets you compare both scenarios side by side; the right answer depends on your alternatives for that cash.