Mortgage calculator
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| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $4,471 | $25,868 | $395,529 |
| 2 | $4,770 | $25,569 | $390,759 |
| 3 | $5,090 | $25,249 | $385,669 |
| 4 | $5,431 | $24,909 | $380,238 |
| 5 | $5,794 | $24,545 | $374,444 |
| 6 | $6,182 | $24,157 | $368,261 |
| 7 | $6,596 | $23,743 | $361,665 |
| 8 | $7,038 | $23,301 | $354,627 |
| 9 | $7,510 | $22,830 | $347,117 |
| 10 | $8,013 | $22,327 | $339,105 |
| 11 | $8,549 | $21,790 | $330,555 |
| 12 | $9,122 | $21,218 | $321,434 |
| 13 | $9,733 | $20,607 | $311,701 |
| 14 | $10,384 | $19,955 | $301,316 |
| 15 | $11,080 | $19,259 | $290,237 |
| 16 | $11,822 | $18,517 | $278,415 |
| 17 | $12,614 | $17,726 | $265,801 |
| 18 | $13,458 | $16,881 | $252,342 |
| 19 | $14,360 | $15,979 | $237,983 |
| 20 | $15,322 | $15,018 | $222,661 |
| 21 | $16,348 | $13,992 | $206,314 |
| 22 | $17,442 | $12,897 | $188,871 |
| 23 | $18,611 | $11,729 | $170,260 |
| 24 | $19,857 | $10,482 | $150,403 |
| 25 | $21,187 | $9,152 | $129,217 |
| 26 | $22,606 | $7,734 | $106,611 |
| 27 | $24,120 | $6,220 | $82,491 |
| 28 | $25,735 | $4,604 | $56,756 |
| 29 | $27,459 | $2,881 | $29,298 |
| 30 | $29,298 | $1,042 | $0 |
Estimate for planning only. Payment shown is principal, interest, property tax, insurance, and HOA where entered; it excludes mortgage insurance (PMI), closing costs, and any escrow changes over time.
Frequently asked questions
How is my monthly mortgage payment calculated?
Principal and interest come from the standard amortization formula, which spreads the loan into equal monthly payments over the term at your fixed interest rate. Early payments are mostly interest and later ones mostly principal. This calculator then adds monthly property tax, home insurance, and any HOA dues to show the full housing payment.
What is included in the payment this calculator shows?
The total is principal and interest plus one twelfth of your annual property tax and home insurance, plus any monthly HOA dues you enter. It does not include private mortgage insurance (PMI), closing costs, or utilities, so a lender quote with those added can be higher.
How much should I put down on a house?
Twenty percent down is the common benchmark because it usually avoids private mortgage insurance and lowers the loan balance, but many loans allow far less. A larger down payment reduces both the monthly payment and the total interest you pay over the life of the loan.
How much total interest will I pay over the loan?
It depends on the loan amount, rate, and term. A longer term lowers the monthly payment but raises total interest because you borrow for longer; a shorter term does the opposite.