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15-yr fixed5.87%▴ +0.02
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C.01 · Housing

What would this house really cost you?

Principal & interest is the headline number. Taxes, insurance, PMI, and HOA are where the real math hides. Move the sliders — we'll show you all of it.

Rate data
Freddie Mac PMMS
Freddie Mac weekly survey, via FRED — refreshed daily.
Jump to a scenario
Inputs
Home price
$425,000
Down payment
20.0%
Interest rateTypical 30-year fixed rate today: 6.53%
6.53%
Loan term
30 yrs
Taxes, insurance, HOA
%/yr
$/yr
$/mo
PMI
$0 — not required at 20%+ down
Monthly payment · everything included
$2,670/mo
Loan amount
$340,000
Down payment
$85,000
Total interest over the loan
$436,068
Total of loan payments + down payment
$861,068
Loan balance over time (what you still owe)
How your remaining loan balance shrinks over 30 years
$0$168K$336KYear 0Year 15Year 30
Year-by-year

Year-by-year payoff schedule (amortization)

How each year splits between paying down your loan and paying interest. In early years almost every dollar is interest; the turning point — where more goes to your loan than to interest — is where ownership really starts.

Year
Principal
Interest
Balance
Progress
1
$3,779
$22,090
$336,221
1%
2
$4,033
$21,836
$332,188
2%
3
$4,304
$21,565
$327,884
4%
4
$4,594
$21,275
$323,290
5%
5
$4,903
$20,966
$318,387
6%
6
$5,233
$20,636
$313,154
8%
7
$5,585
$20,284
$307,569
10%
8
$5,961
$19,908
$301,608
11%
9
$6,362
$19,507
$295,246
13%
10
$6,790
$19,079
$288,455
15%
11
$7,247
$18,622
$281,208
17%
12
$7,735
$18,134
$273,473
20%
13
$8,255
$17,614
$265,218
22%
14
$8,811
$17,058
$256,407
25%
15
$9,404
$16,465
$247,004
27%
16
$10,036
$15,832
$236,967
30%
17
$10,712
$15,157
$226,256
33%
18
$11,433
$14,436
$214,823
37%
19
$12,202
$13,667
$202,621
40%
20
$13,023
$12,846
$189,598
44%
Tipping point
21
$13,899
$11,970
$175,699
48%
22
$14,835
$11,034
$160,864
53%
23
$15,833
$10,036
$145,032
57%
24
$16,898
$8,971
$128,133
62%
25
$18,035
$7,834
$110,098
68%
26
$19,249
$6,620
$90,849
73%
27
$20,544
$5,325
$70,305
79%
28
$21,927
$3,942
$48,379
86%
29
$23,402
$2,467
$24,977
93%
30
$24,977
$892
$0
100%
How we compute this

The formula behind the number.

The monthly principal-and-interest payment on a fixed-rate mortgage follows one equation, where P = amount borrowed · r = monthly rate (annual ÷ 12) · n = total monthly payments:

M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]

where P is the loan amount, r is the monthly interest rate (annual ÷ 12), and n is the number of monthly payments. Property tax, insurance, PMI, and HOA are added on top — they don't factor into the amortization, but they're very real when the autopay hits.

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Frequently Asked Questions

A mortgage payment is made up of four parts — principal (paying down the loan balance), interest (the cost of borrowing), property taxes, and homeowner's insurance (sometimes called PITI). If your down payment is less than 20%, you may also pay private mortgage insurance (PMI).