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This calculator is part of the finance section. Keep the current tool open for calculation, then use the related calculators below to compare nearby planning tasks.

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Finance calculator

Mortgage Calculator

Use a fuller mortgage calculator to estimate principal and interest, layer in taxes and ownership costs, and compare how extra payments reshape payoff timing.

homeloanpayment

Calculate

Mortgage scenario

HOME

Enter purchase details, layer in taxes and costs, and compare standard payoff math with extra-payment scenarios from one live layout.

Loan inputs

Modeled after a classic mortgage worksheet, but rebuilt as a live calculator instead of a submit-and-jump page.

HOME

Include taxes and costs below

Annual cost or percent mode
Monthly Pay$2,870.44

The right side stays visible and updates instantly, so the classic mortgage result panel feels at home in your site’s live experience.

Principal and interest$2,012.11
Property tax$400.00
Home insurance$125.00
PMI insurance$0.00
HOA fee$0.00
Other costs$333.33
Total monthly out-of-pocket$2,870.44
Monthly total$2,870.44
70%

Principal & interest

$2,012.11
14%

Property tax

$400.00
4%

Home insurance

$125.00
12%

PMI, HOA, and other

$333.33
Estimated payoffMay 2056
Loan summary$320,000.00

Quick summary

Long-term cost breakdown

COST
Total mortgage payments$724,358.43
Total interest$404,358.43
Taxes, insurance, and fees$309,000.00
Projected all-in out-of-pocket$1,113,358.43
Y124.1K
Y224.1K
Y324.1K
Y424.1K
Y524.1K
Y624.1K
Y724.1K
Y824.1K
Principal
Interest

Extra payment effect

Payoff acceleration

Add an extra monthly principal payment if you want to compare a faster payoff scenario against the standard schedule.

Extra monthly payment$0.00
Extra yearly payment$0.00
One-time payment$0.00
Months saved0 years, 0 months
Interest saved$0.00
Standard payoffMay 2056

Schedule

Amortization preview

This preview shows the first 12 payments so you can see how the interest share shrinks over time.

#MonthPaymentPrincipalInterestEnding balance
1May 2026$2,012.11$292.11$1,720.00$319,707.89
2Jun 2026$2,012.11$293.68$1,718.43$319,414.22
3Jul 2026$2,012.11$295.26$1,716.85$319,118.96
4Aug 2026$2,012.11$296.84$1,715.26$318,822.12
5Sep 2026$2,012.11$298.44$1,713.67$318,523.68
6Oct 2026$2,012.11$300.04$1,712.06$318,223.64
7Nov 2026$2,012.11$301.65$1,710.45$317,921.98
8Dec 2026$2,012.11$303.28$1,708.83$317,618.71
9Jan 2027$2,012.11$304.91$1,707.20$317,313.80
10Feb 2027$2,012.11$306.55$1,705.56$317,007.26
11Mar 2027$2,012.11$308.19$1,703.91$316,699.06
12Apr 2027$2,012.11$309.85$1,702.26$316,389.21

Full payoff is projected over 360 monthly payments starting in May 2026.

Yearly summary

Amortization summary by year

YearPrincipalInterestOut-of-pocketEnding balance
1$3,610.79$20,534.50$34,445.28$316,389.21
2$3,850.69$20,294.59$34,445.28$312,538.52
3$4,106.54$20,038.75$34,445.28$308,431.99
4$4,379.38$19,765.90$34,445.28$304,052.61
5$4,670.35$19,474.93$34,445.28$299,382.26
6$4,980.66$19,164.62$34,445.28$294,401.60
7$5,311.58$18,833.70$34,445.28$289,090.02
8$5,664.49$18,480.79$34,445.28$283,425.54
9$6,040.84$18,104.44$34,445.28$277,384.69
10$6,442.20$17,703.08$34,445.28$270,942.49
11$6,870.23$17,275.05$34,445.28$264,072.26
12$7,326.70$16,818.58$34,445.28$256,745.56

The first 12 years are shown here to keep the page readable while still surfacing the long-range payoff pattern.

How to use this calculator

How to read a mortgage payment

A mortgage payment is usually more than principal and interest. Real housing budgets often combine loan repayment, property taxes, insurance, optional PMI, HOA dues, and other recurring ownership costs.

  • Start with home price, down payment, interest rate, and loan term to estimate the base principal-and-interest payment.
  • Add taxes, insurance, PMI, HOA dues, and other costs to see a more realistic total monthly housing number.
  • Use the advanced section to test annual cost increases and extra payments so you can compare payoff speed, interest saved, and long-term out-of-pocket cost.

Formula / method

Formula / method

Mortgage payments use a standard amortizing-loan method. Principal, rate, term, escrow-style ownership costs, and any extra payments are combined to show the monthly total and the payoff path over time.

  • Base mortgage payment follows the standard amortization formula for fixed-rate loans.
  • Taxes, insurance, PMI, HOA, and other housing costs are layered onto the monthly total after the loan payment is estimated.
  • Extra payments shorten payoff time and reduce total interest inside the same repayment schedule.

Example calculation

Review the current live example

The example below reflects the current values shown in the calculator above, so it updates as you change the form without altering the calculation logic itself.

Example inputs

Example outputs

Principal and interest$2,012.11
Property tax$400.00
Home insurance$125.00
PMI insurance$0.00

Disclaimer

Use results as planning guidance only

Results are for reference only and do not constitute financial, investment, tax, or legal advice. Product terms, lender rules, tax treatment, and fees can vary in real situations.

  • Do not treat calculator output as financial, investment, medical, or legal advice.
  • Check assumptions, dates, tax rules, and provider-specific terms before acting on a result.
  • Use official documents or professional guidance when the decision has material consequences.

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FAQ

Common Mortgage questions

Does this mortgage calculator include taxes and insurance?

Yes. You can model property taxes, home insurance, PMI, HOA fees, and other costs in either percentage or dollar mode so the monthly total reflects more than just the loan payment.

Can I compare standard payoff against extra-payment strategies?

Yes. The page keeps a baseline mortgage projection and compares it against the live scenario so you can see months saved, interest saved, and the revised payoff date.

What is included in the amortization preview?

The monthly preview shows the first 12 payments, and the yearly summary extends the view so you can track how principal, interest, out-of-pocket cost, and ending balance evolve over time.

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