Money
Mortgage Calculator
Estimate your true monthly payment — principal & interest plus taxes, insurance and HOA — with a full amortization schedule and the exact effect of extra payments.
Total monthly payment
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principal & interest
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tax + insurance + HOA
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loan amount
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total interest
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paid off
Remaining loan balance over time.
| Year | Principal paid | Interest paid | Balance |
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Frequently asked questions
How much is the monthly payment on a $400,000 mortgage?
At 7% for 30 years with 20% down ($80,000), the loan is $320,000 and principal & interest come to about $2,129/month. Property taxes and insurance typically add several hundred dollars more — enter your local figures above for the full picture.
Does the mortgage payment include property taxes and insurance?
Usually yes: most lenders collect 1/12 of your annual property tax and homeowners insurance in escrow with each payment. This calculator shows principal & interest separately from taxes, insurance and HOA so you can see both numbers.
How much does one extra payment a year shorten a 30-year mortgage?
Roughly 4–6 years, depending on the rate. Adding 1/12 of your payment as an extra monthly amount has the same effect — try it in the “extra monthly payment” field and the calculator shows the exact months and interest saved.
What is PMI and when can I remove it?
Private mortgage insurance is charged when your down payment is under 20% (commonly 0.3–1.5% of the loan per year). You can request removal once your balance falls to 80% of the home’s original value, and lenders must drop it automatically at 78%.
Is it better to pay extra principal monthly or refinance?
Extra principal always saves interest at your current rate with no closing costs. Refinancing wins only when the new rate is meaningfully lower (commonly cited: at least 0.75–1 point) and you will stay long enough to recoup the fees. Many owners do both.
Method: standard fixed-rate amortization on the loan amount (price − down payment); taxes, insurance and HOA are passed through monthly. Estimates only — PMI, points and closing costs are not included. Not financial advice.