Mortgage Calculator
See what a home could really cost each month — including mortgage insurance, property tax, and homeowners insurance.
That's $40,000. Less than 20% down usually means paying mortgage insurance (PMI).
Used to guess property taxes. You can change the guess in the advanced settings.
Advanced settings
Mortgage insurance (PMI)
Required on most loans with less than 20% down. It goes away once you owe 80% of the home's price (you have to ask; it ends on its own at 78%).
A typical rate for your credit score and down payment. Your lender's quote will differ.
Escrow: taxes and insurance
Most lenders collect property tax and homeowners insurance with your payment and pay those bills for you from an escrow account. These are guesses — check the real numbers for the home.
The U.S. average. Pick your state above to use its average.
Usually about 0.5%–1% of the price, and much more in areas with hurricanes or wildfires. That's about $2,800 a year here.
Other
Your estimated monthly payment
$2,974
drops to $2,809 when PMI ends
- Principal & interest$2,27576.5%
- Property tax0.9% of the price a year (national average)$30010.1%
- Homeowners insurance0.7% of the price a year$2337.8%
- Mortgage insurance (PMI)0.55% of the loan a year (a guess)$1655.5%
Your lender would likely collect about $533 a month into escrow for property tax and insurance, plus PMI on top.
You borrow
$360,000
90.0% of the price
Cash to close
$52,000
down payment + $12,000 closing
Interest over the loan
$459,160
You'd pay $819,160 in principal and interest for a $360,000 loan.
How your loan balance shrinks
Early payments are mostly interest; later ones are mostly principal. Hover (or use the arrow keys) to explore.
See the numbers
| When | Regular payments |
|---|---|
| Start | $360,000 |
| 2 yrs | $351,683 |
| 4 yrs | $342,214 |
| 6 yrs | $331,435 |
| 8 yrs | $319,164 |
| 10 yrs | $305,194 |
| 12 yrs | $289,290 |
| 14 yrs | $271,185 |
| 16 yrs | $250,573 |
| 18 yrs | $227,108 |
| 20 yrs | $200,395 |
| 22 yrs | $169,984 |
| 24 yrs | $135,363 |
| 26 yrs | $95,950 |
| 28 yrs | $51,081 |
| 30 yrs | $0 |
Year by year
Show the yearly breakdown of principal and interest
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $23,282 | $4,024 | $355,976 |
| 2 | $23,012 | $4,293 | $351,683 |
| 3 | $22,725 | $4,581 | $347,102 |
| 4 | $22,418 | $4,888 | $342,214 |
| 5 | $22,090 | $5,215 | $337,000 |
| 6 | $21,741 | $5,564 | $331,435 |
| 7 | $21,368 | $5,937 | $325,498 |
| 8 | $20,971 | $6,334 | $319,164 |
| 9 | $20,547 | $6,759 | $312,405 |
| 10 | $20,094 | $7,211 | $305,194 |
| 11 | $19,611 | $7,694 | $297,500 |
| 12 | $19,096 | $8,210 | $289,290 |
| 13 | $18,546 | $8,759 | $280,531 |
| 14 | $17,959 | $9,346 | $271,185 |
| 15 | $17,333 | $9,972 | $261,213 |
| 16 | $16,666 | $10,640 | $250,573 |
| 17 | $15,953 | $11,352 | $239,221 |
| 18 | $15,193 | $12,113 | $227,108 |
| 19 | $14,382 | $12,924 | $214,184 |
| 20 | $13,516 | $13,789 | $200,395 |
| 21 | $12,592 | $14,713 | $185,682 |
| 22 | $11,607 | $15,698 | $169,984 |
| 23 | $10,556 | $16,750 | $153,234 |
| 24 | $9,434 | $17,871 | $135,363 |
| 25 | $8,237 | $19,068 | $116,295 |
| 26 | $6,960 | $20,345 | $95,950 |
| 27 | $5,598 | $21,708 | $74,242 |
| 28 | $4,144 | $23,162 | $51,081 |
| 29 | $2,593 | $24,713 | $26,368 |
| 30 | $938 | $26,368 | $0 |
An estimate, not a loan offer. This assumes a fixed-rate loan, and that property tax, insurance, and HOA dues stay the same (in real life they usually rise). Property tax guesses are statewide averages from the Tax Foundation; insurance and PMI are typical ranges, not quotes. It doesn't include FHA, VA, or USDA loan insurance, points, or lender fees beyond the closing-cost guess. Your lender's Loan Estimate has the real numbers.