Mortgage Calculator

K-05

Monthly payment with taxes, insurance, PMI, and HOA, a full amortization schedule, and what extra payments save.

Loan inputs

Home price

Down payment

$40,000 down. Under 20% adds PMI on a conventional loan.

Interest rate

Loan term

10 yr15 yr20 yr30 yr

Property taxes / year

Homeowners insurance / year

HOA dues / month

PMI / year

Charged only under 20% down, and cancels once the balance reaches 78% of the price.

Extra principal / month

Added to every payment and applied straight to the balance.

This home costs $2,842N4 a month. The loan charges $437,969N5 of interest over 30 years.

Plan K-0530-year fixed at 6.25% on a $360,000 loan. Estimates, not a loan offer.

Principal & interestN1: $2,217/mo; 30-year fixed
Loan amountN2: $360,000; after $40,000 down
PMIN3: $150/mo; ends after 8 yrs 10 mo
Total interestN5: $437,969; 122% of the loan

Where the first payment goes

$2,842 in month one: the part that builds your equity, and the rest

Principal, your equity: $342; 12%
Interest: $1,875; 66%
Property taxes: $300; 11%
Homeowners insurance: $175; 6%
PMI: $150; 5%
Monthly payment: $2,842; 100%

Principal and interest, year by year

Each year's $26,599 of payments, split

ChartTable

Principal$360K
Interest$438K

Estimates for education only, not a loan offer. Taxes, insurance, and PMI are held flat; in practice escrow changes every year. Confirm your rate and costs with a licensed loan officer.