Mortgage Calculator — Monthly Payment with Taxes & Insurance
Estimate your true monthly mortgage payment — not just principal and interest, but the full PITI including property taxes and homeowners insurance. See how the price, down payment, and rate change what you'll pay each month and over the life of the loan.
- Principal & interest
- $2,022.62
- Taxes + insurance / month
- $516.67
- Loan amount
- $320,000.00
- Total interest over loan
- $408,142.36
Amortization by year
| Year | Principal paid | Interest paid | Remaining 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 |
How this calculator works
- Principal & interest follow the standard amortization formula — early payments are mostly interest, later payments mostly principal.
- Property taxes and insurance are typically escrowed: the lender collects 1/12 each month and pays the bills for you.
- Putting down less than 20% usually adds private mortgage insurance (PMI) of roughly 0.3–1.5% of the loan per year — not included here.
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where r = rate/12, n = months
Frequently asked questions
How much house can I afford?
A common guideline caps total housing costs at 28% of gross monthly income. Use our home affordability calculator to work backward from your income and debts.
15-year vs 30-year — which is better?
A 15-year loan carries a lower rate and less than half the total interest, but a much higher required payment. Many buyers take the 30-year and pay extra when they can — flexibility without obligation.
What credit score do I need?
Conventional loans generally want 620+; the best rates go to 740+. FHA allows 580 with 3.5% down. A 100-point score difference can move your rate by 0.5–1%.
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Disclaimer: Results are estimates for educational purposes only and are not tax, legal, or financial advice. Tax rules are simplified (credits, phase-outs, and local taxes may not be modeled). Verify important decisions with the IRS, your state tax authority, or a licensed professional.