How does making extra monthly principal payments help?

Every extra dollar applied directly to principal reduces the remaining balance immediately, compounding interest savings over the life of the loan and shortening your payoff date.

Financial100% Client-Side · Instant Math

Mortgage Calculator

Calculate monthly home payments, PITI breakdown, and full amortization schedule.

Loan Amount

Home Price

Down Payment (20.0%)

Term (Years)

Years

Interest Rate (%)

Extra Monthly Payment

Include Taxes, Insurance & HOA

Property Tax / yr

Home Insurance / yr

HOA Fee / mo

Result Summary

Total Monthly Payment

$2,606.96

Principal & Interest: $1,970.30

Loan Amount

$320,000.00

360 Months

Total Interest

$389,306.21

Total Payment

$709,306.21

Principal:$320,000.00 (45.1%)

Total Interest:$389,306.21 (54.9%)

Detailed Breakdown

Year	Principal	Interest	Ending Balance
1	$3,749.75	$19,893.79	$316,250.25
2	$3,990.94	$19,652.60	$312,259.32
3	$4,247.64	$19,395.90	$308,011.68
4	$4,520.86	$19,122.68	$303,490.82
5	$4,811.65	$18,831.89	$298,679.17
6	$5,121.14	$18,522.40	$293,558.03
7	$5,450.54	$18,193.00	$288,107.49
8	$5,801.13	$17,842.41	$282,306.36
9	$6,174.27	$17,469.27	$276,132.09
10	$6,571.41	$17,072.13	$269,560.68
11	$6,994.09	$16,649.45	$262,566.59
12	$7,443.97	$16,199.57	$255,122.62
13	$7,922.78	$15,720.76	$247,199.84
14	$8,432.38	$15,211.16	$238,767.46
15	$8,974.77	$14,668.77	$229,792.69
16	$9,552.04	$14,091.50	$220,240.64
17	$10,166.45	$13,477.09	$210,074.19
18	$10,820.37	$12,823.17	$199,253.82
19	$11,516.36	$12,127.18	$187,737.46
20	$12,257.11	$11,386.43	$175,480.35
21	$13,045.51	$10,598.03	$162,434.84
22	$13,884.62	$9,758.92	$148,550.21
23	$14,777.71	$8,865.83	$133,772.50
24	$15,728.24	$7,915.30	$118,044.27
25	$16,739.91	$6,903.64	$101,304.36
26	$17,816.65	$5,826.89	$83,487.72
27	$18,962.65	$4,680.89	$64,525.07
28	$20,182.36	$3,461.18	$44,342.71
29	$21,480.52	$2,163.02	$22,862.19
30	$22,862.19	$781.35	$0.00

Educational & Budgeting Notice

Results are estimates provided for educational and planning purposes only and do not constitute licensed financial, tax, or legal advice. Verify final terms with your lender or advisor.

How to Use This Calculator

Estimate monthly mortgage payments including principal, interest, property tax, home insurance, and HOA fees with an interactive yearly & monthly amortization table and extra payment savings.

1Enter the home price, down payment amount or percentage, loan term in years, and annual interest rate.
2Optionally include annual property taxes, home insurance, and monthly HOA fees for total monthly housing cost.
3Add an optional extra monthly payment to see how many months and total interest you can save.

Standard Formula & Methodology

M = P · [r(1 + r)^n] / [(1 + r)^n - 1], where r = annual rate / 1200 and n = years × 12.

Helpful Context & Precision Notes

Runs 100% locally in your browser without ads, lead-capture forms, or credit inquiries. Supports Metric/EUR/JPY/CNY/USD currency formatting.

All inputs stay locally inside your browser tab — nothing is uploaded or logged.

Frequently Asked Questions

PITI stands for Principal, Interest, Taxes (property tax), and Insurance (homeowners insurance). Our calculator lets you toggle taxes, insurance, and HOA fees alongside core principal & interest.