Estimate a fixed-rate mortgage payment, ownership costs, total interest and the full amortization schedule.
Payment detail
The fixed loan payment is split between principal and interest. Taxes, insurance and other entered costs sit alongside it rather than reducing the loan balance.
Loan timeline
Each row totals the principal and interest paid during that loan year and shows the remaining balance after the final payment in the row.
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $4,635.50 | $19,635.91 | $299,555.13 |
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| 1 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $4,635.50 | $19,635.91 | $299,555.13 |
| 6 | $4,945.95 | $19,325.46 | $294,609.18 |
| 7 | $5,277.19 | $18,994.22 | $289,331.98 |
| 8 | $5,630.62 | $18,640.80 | $283,701.37 |
| 9 | $6,007.71 | $18,263.70 | $277,693.66 |
| 10 | $6,410.06 | $17,861.36 | $271,283.60 |
| 11 | $6,839.35 | $17,432.06 | $264,444.26 |
| 12 | $7,297.39 | $16,974.02 | $257,146.86 |
| 13 | $7,786.11 | $16,485.30 | $249,360.75 |
| 14 | $8,307.56 | $15,963.85 | $241,053.19 |
| 15 | $8,863.94 | $15,407.48 | $232,189.25 |
| 16 | $9,457.57 | $14,813.84 | $222,731.68 |
| 17 | $10,090.96 | $14,180.45 | $212,640.72 |
| 18 | $10,766.77 | $13,504.64 | $201,873.95 |
| 19 | $11,487.84 | $12,783.57 | $190,386.11 |
| 20 | $12,257.20 | $12,014.21 | $178,128.90 |
| 21 | $13,078.09 | $11,193.32 | $165,050.81 |
| 22 | $13,953.96 | $10,317.46 | $151,096.86 |
| 23 | $14,888.48 | $9,382.93 | $136,208.38 |
| 24 | $15,885.59 | $8,385.83 | $120,322.79 |
| 25 | $16,949.47 | $7,321.94 | $103,373.32 |
| 26 | $18,084.61 | $6,186.80 | $85,288.71 |
| 27 | $19,295.77 | $4,975.64 | $65,992.94 |
| 28 | $20,588.05 | $3,683.37 | $45,404.89 |
| 29 | $21,966.86 | $2,304.55 | $23,438.03 |
| 30 | $23,438.03 | $833.39 | $0.00 |
Read the result
A lender quote often highlights principal and interest because those amounts come directly from the loan. A realistic household budget also needs property tax, homeowners insurance, mortgage insurance and association fees when they apply.
The calculator keeps those layers visible so a lower quoted loan payment is not mistaken for the complete monthly cost of owning the home.
Amortization
Interest is calculated from the outstanding balance. Early in a long mortgage that balance is high, so interest takes a larger share of the fixed payment. As the balance declines, less interest is due and more of the same payment reaches principal.
The table makes that shift visible year by year. Extra principal accelerates it, but the actual servicer must apply the additional amount to principal for the real loan to follow the same path.
What is not modelled
The calculation assumes a fully amortizing fixed-rate loan with regular monthly payments. It does not model adjustable rates, balloon payments, temporary buydowns, closing costs, escrow shortages, refinancing or future changes in taxes and insurance.
Use the output to compare consistent scenarios, then verify the final payment, fees and loan terms against the lender's written estimate before making a decision.
Method
Start with the home price and down payment to find the amount financed. The calculator then applies the standard fixed-rate amortization formula using the entered annual rate and term to estimate the monthly principal-and-interest payment.
Property tax, homeowners insurance, HOA fees and mortgage insurance are shown separately and added to the monthly estimate. These costs can change over time even when the principal-and-interest payment on a fixed-rate loan stays level.
An optional extra monthly amount is applied directly to principal in the model. The amortization schedule then recalculates the balance, payoff time and interest saved instead of simply multiplying the regular payment by the original term.
Common questions
The estimate includes principal and interest, the entered annual property tax and home insurance divided by 12, monthly HOA fees, mortgage insurance and any voluntary extra principal payment.
Principal and interest repay the loan itself. Taxes, homeowners insurance, mortgage insurance and HOA fees are separate ownership costs that can make the actual monthly outflow higher.
The principal-and-interest portion stays level in this fixed-rate model. Taxes, insurance, HOA fees and mortgage insurance can change, so the total amount paid each month may not stay fixed.
The model applies it to principal after monthly interest is calculated. That lowers the balance faster and can reduce both payoff time and total interest, subject to the terms of the actual loan.
No. Closing costs, lender fees, prepaid escrow, tax changes, insurance increases, refinancing and tax deductions are outside this fixed-input estimate.
Not financial advice. This calculator is for general informational purposes only. Check figures independently before making financial decisions.