US mortgage · updated for 2026
Home mortgage calculator
Build a realistic monthly payment, see where every dollar goes, and find out what paying a little extra could save.
Your mortgage
$80,000 down · $320,000 loan
Annual fixed rate
Monthly costs
Applied under 20% down
Optional. See how much interest you could save.
Estimated monthly payment
$2,573
Principal, interest, taxes, insurance
Monthly breakdown
- Principal & interest
- $2,022.62
- Property tax
- $400.00
- Home insurance
- $150.00
Loan amount
$320,000
Total interest
$408,142
$2,022.62 principal & interest
Payoff date
Oct 2056
360 payments
Total cost
$1,006,142
Including down payment
Balance over time
Remaining loan balance, including extra payments.
$320,000 → $0
Yearly amortization
How each year splits between principal and interest.
ShowHide
Yearly amortization
How each year splits between principal and interest.
| Year | Principal | Interest | Extra | PMI | Balance |
|---|---|---|---|---|---|
| 2026 | $580 | $3,465 | — | — | $319,420 |
| 2027 | $3,616 | $20,656 | — | — | $315,804 |
| 2028 | $3,858 | $20,414 | — | — | $311,947 |
| 2029 | $4,116 | $20,155 | — | — | $307,830 |
| 2030 | $4,392 | $19,880 | — | — | $303,439 |
| 2031 | $4,686 | $19,586 | — | — | $298,753 |
| 2032 | $5,000 | $19,272 | — | — | $293,753 |
| 2033 | $5,335 | $18,937 | — | — | $288,419 |
| 2034 | $5,692 | $18,580 | — | — | $282,727 |
| 2035 | $6,073 | $18,198 | — | — | $276,654 |
| 2036 | $6,480 | $17,792 | — | — | $270,174 |
| 2037 | $6,914 | $17,358 | — | — | $263,261 |
| 2038 | $7,377 | $16,895 | — | — | $255,884 |
| 2039 | $7,871 | $16,401 | — | — | $248,013 |
| 2040 | $8,398 | $15,874 | — | — | $239,615 |
| 2041 | $8,960 | $15,311 | — | — | $230,655 |
| 2042 | $9,560 | $14,711 | — | — | $221,095 |
| 2043 | $10,201 | $14,071 | — | — | $210,894 |
| 2044 | $10,884 | $13,388 | — | — | $200,011 |
| 2045 | $11,613 | $12,659 | — | — | $188,398 |
| 2046 | $12,390 | $11,881 | — | — | $176,008 |
| 2047 | $13,220 | $11,051 | — | — | $162,788 |
| 2048 | $14,106 | $10,166 | — | — | $148,682 |
| 2049 | $15,050 | $9,221 | — | — | $133,632 |
| 2050 | $16,058 | $8,213 | — | — | $117,574 |
| 2051 | $17,134 | $7,138 | — | — | $100,440 |
| 2052 | $18,281 | $5,990 | — | — | $82,159 |
| 2053 | $19,505 | $4,766 | — | — | $62,654 |
| 2054 | $20,812 | $3,460 | — | — | $41,842 |
| 2055 | $22,205 | $2,066 | — | — | $19,636 |
| 2056 | $19,636 | $590 | — | — | $0 |
Estimates only. This calculator does not include closing costs, mortgage insurance premiums charged by a lender, or local rules. Your lender's quote is the number that matters.
The math, explained
Three numbers do most of the work.
A mortgage payment is not one number. It is a stack of costs, and only part of it builds your equity. Understanding the split makes it easier to compare offers and decide whether to pay down faster.
Principal & interest
The loan repayment itself. Early payments are mostly interest; later payments are mostly principal.
Tax & insurance
Often collected monthly in escrow. These costs can rise even when your mortgage rate is fixed.
PMI
Usually required when you put down less than 20%. It protects the lender, not you.
Questions people ask
The assumptions behind the numbers — and the limits worth knowing.
What does the monthly payment include?
The headline figure includes principal and interest, property tax, homeowners insurance, HOA dues and estimated PMI when your down payment is below 20%. Closing costs and lender-specific fees are not included.
How is PMI calculated?
This calculator estimates PMI as an annual percentage of the original loan amount, spread across 12 months. It is removed once the remaining balance falls to 80% of the home price. Real lender rules and thresholds vary (automatic termination is often 78% of the original value, and you may be able to request removal at 80%).
Does an extra payment always reduce interest?
Yes, when the extra amount goes to principal. Paying extra shortens the loan and reduces total interest. Check with your lender that there is no prepayment penalty and that extra funds are applied to principal.
Why is my lender's quote different?
Lenders include exact rates, points, mortgage insurance rules, escrow adjustments and fees. This tool is an estimate for planning and comparison, not a loan offer or a substitute for a Loan Estimate.
Is this calculator for US mortgages only?
Yes. It uses US conventions such as dollar amounts, annual property tax and PMI. UK, Canadian and Australian mortgages have different fee structures and insurance rules.