Mortgage Payment Calculator | Estimate Monthly Payments & Interest

Mortgage Payment Calculator

Calculate your monthly home loan payments accurately. Include property taxes, insurance, HOA fees, and see a full amortization schedule.

Loan Details

Home Price $300,000
Down Payment $60,000
Interest Rate (%) 6.5%
Loan Term (Years) 30 Years

Amortization Schedule

MonthPaymentPrincipalInterestBalance

Recent Calculations

How to Use This Mortgage Payment Calculator

Our Mortgage Payment Calculator is designed to provide you with a comprehensive estimation of your monthly home loan payments. Unlike simple calculators, this tool accounts for real-world costs such as Property Taxes, Homeowners Insurance, and HOA fees.

Understanding Your Monthly Mortgage Payment

Your monthly payment is typically comprised of four main parts, often referred to as PITI:

  • Principal: The portion of money that goes towards paying off the loan balance.
  • Interest: The cost of borrowing money from your lender.
  • Taxes: Property taxes collected by your local government.
  • Insurance: Homeowners insurance to protect your property against damage.

Why Use an Amortization Schedule?

The Amortization Schedule table included in this tool shows exactly how your money is split between principal and interest over time. In the early years of a 30-year mortgage, most of your payment goes towards interest. As time passes, more of your payment goes towards the principal.

Frequently Asked Questions (FAQ)

Does this calculator save my data?
Yes, your recent calculations are saved locally on your device for your convenience.

How can I pay off my mortgage faster?
Use the "Extra Payment" field in the advanced options to see how adding even $50 or $100 a month can reduce your loan term and save you thousands in interest.