Enter your home price, down payment percentage, interest rate, and loan term to see your estimated monthly payment instantly. The results update in real time as you adjust the sliders — no need to click a "Calculate" button.

Open the Advanced Options panel to factor in property taxes, homeowner's insurance, HOA fees, and extra monthly payments toward principal. The amortization chart shows how your balance decreases over the life of the loan, and the pie chart breaks down where each dollar of your monthly payment goes.

Use the Copy Link button to share your specific scenario with a partner, real estate agent, or financial advisor. You can also download the full amortization schedule as a CSV or PDF report.

A mortgage is a loan used to purchase real estate, where the property itself serves as collateral. Most home buyers in the United States finance their purchase with a 15-year or 30-year fixed-rate mortgage, though adjustable-rate mortgages (ARMs) are also available.

How Amortization Works

When you make a fixed monthly payment, the split between principal and interest changes every month. In the early years, the majority of each payment goes toward interest. Over time, an increasing share is applied to the principal balance. This process is called amortization. Our calculator generates a year-by-year amortization schedule so you can see exactly when you cross the tipping point where more of your payment goes toward equity.

The True Cost of a Home

Your monthly mortgage payment typically includes more than just principal and interest (P&I). Most lenders require you to escrow for property taxes and homeowner's insurance, and some communities also charge HOA fees. Our calculator includes all four components so you can budget accurately.

How Extra Payments Save You Money

Even a small extra monthly payment toward principal can shave years off your loan and save tens of thousands of dollars in interest. For example, adding $200/month to a $320,000 loan at 6.5% over 30 years would save approximately $82,000 in interest and pay off the loan nearly 6 years early. Use the "Extra Monthly Payment" slider to model different scenarios.

Down Payment Considerations

A larger down payment reduces your loan amount and may help you avoid private mortgage insurance (PMI), which lenders typically require when you put less than 20% down. PMI usually costs 0.5% to 1% of the loan amount annually. While our calculator doesn't model PMI separately, you can account for it by adjusting the insurance field.