Mortgage Payment Calculator

Calculate your monthly mortgage payment with our free mortgage payment calculator. Get accurate estimates for home loans, including principal, interest, taxes, and insurance (PITI). Perfect for first-time homebuyers and refinancing.

Mortgage Payment Details

Enter your home price, down payment, interest rate, and loan term to calculate your monthly mortgage payment.

$400,000
$50K$500K$1M$2M
$80,000 (20%)
3%10%20%50%
7%
1%4%8%15%
30 Years
5 yrs15 yrs30 yrs40 yrs

📅 Your loan will be paid off in December 2055

Payment Summary

Monthly Payment
$2,128.97
Total Interest
$446,428.47
Loan Amount:$320,000.00
Down Payment:$80,000.00 (20%)
Total of Payments:$766,428.47
Total Interest:$446,428.47

Payment Breakdown

41.8% 58.2%
Principal
$320,000.00 (41.8%)
Interest
$446,428.47 (58.2%)

Payment Schedule

YearDatePaymentPrincipalInterestBalance
1Nov 2026$25,547.62$3,250.59$22,297.02$316,749.41
2Nov 2027$25,547.62$3,485.58$22,062.04$313,263.83
3Nov 2028$25,547.62$3,737.55$21,810.07$309,526.28
4Nov 2029$25,547.62$4,007.74$21,539.88$305,518.54
5Nov 2030$25,547.62$4,297.46$21,250.16$301,221.09
6Nov 2031$25,547.62$4,608.12$20,939.50$296,612.97
7Nov 2032$25,547.62$4,941.24$20,606.37$291,671.73
8Nov 2033$25,547.62$5,298.44$20,249.17$286,373.28
9Nov 2034$25,547.62$5,681.47$19,866.15$280,691.81
10Nov 2035$25,547.62$6,092.18$19,455.43$274,599.63
11Nov 2036$25,547.62$6,532.59$19,015.03$268,067.04
12Nov 2037$25,547.62$7,004.83$18,542.79$261,062.21
13Nov 2038$25,547.62$7,511.21$18,036.41$253,551.00
14Nov 2039$25,547.62$8,054.20$17,493.42$245,496.81
15Nov 2040$25,547.62$8,636.43$16,911.18$236,860.37
16Nov 2041$25,547.62$9,260.76$16,286.85$227,599.61
17Nov 2042$25,547.62$9,930.22$15,617.39$217,669.39
18Nov 2043$25,547.62$10,648.08$14,899.54$207,021.31
19Nov 2044$25,547.62$11,417.83$14,129.79$195,603.48
20Nov 2045$25,547.62$12,243.23$13,304.39$183,360.25
21Nov 2046$25,547.62$13,128.29$12,419.33$170,231.96
22Nov 2047$25,547.62$14,077.34$11,470.28$156,154.63
23Nov 2048$25,547.62$15,094.99$10,452.63$141,059.64
24Nov 2049$25,547.62$16,186.20$9,361.41$124,873.43
25Nov 2050$25,547.62$17,356.31$8,191.31$107,517.13
26Nov 2051$25,547.62$18,611.00$6,936.62$88,906.13
27Nov 2052$25,547.62$19,956.39$5,591.23$68,949.75
28Nov 2053$25,547.62$21,399.03$4,148.58$47,550.71
29Nov 2054$25,547.62$22,945.97$2,601.64$24,604.74
30Nov 2055$25,547.62$24,604.74$942.88$0.00

How to Use Our Mortgage Calculator

📊 Calculate Your Payment

Enter your home price, down payment, interest rate, and loan term to get an accurate estimate of your monthly mortgage payment. Our calculator includes principal and interest calculations.

  • Adjust home price from $50K to $2M
  • Set down payment from 3% to 50%
  • Interest rates from 1% to 15%
  • Loan terms from 5 to 40 years

🏠 Understanding Mortgages

A mortgage is a loan used to purchase real estate. The property serves as collateral for the loan. Most mortgages require a down payment and are repaid over 15-30 years.

  • Fixed-rate vs. adjustable-rate mortgages
  • FHA, VA, and conventional loans
  • Private mortgage insurance (PMI)
  • Property taxes and homeowners insurance

💡 Mortgage Tips for Homebuyers

  • Shop around: Compare rates from multiple lenders to find the best deal
  • Improve your credit: Higher credit scores typically qualify for better interest rates
  • Save for down payment: 20% down payment helps avoid PMI and reduces monthly payments
  • Consider total costs: Factor in property taxes, insurance, and maintenance costs
  • Get pre-approved: Pre-approval shows sellers you're a serious buyer

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