Skip to main content
WalletWaypoint

For educational purposes only — not financial advice. Learn about our editorial process

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: 6.49%
6.49%
Loan term
30 yrs
Taxes, insurance, HOA
%/yr
$/yr
$/mo
PMI
$0 — not required at 20%+ down
Monthly payment · everything included
$2,661/mo
Loan amount
$340,000
Down payment
$85,000
Total interest
$432,846
Total paid + down
$857,846
Loan balance over time (what you still owe)
How your remaining loan balance shrinks over 30 years
$0$168K$336KYear 0Year 15Year 30Interest-heavyEquity builds faster
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
$3,807
$21,954
$336,193
1%
2
$4,062
$21,699
$332,130
2%
3
$4,334
$21,428
$327,797
4%
4
$4,623
$21,138
$323,173
5%
5
$4,933
$20,829
$318,241
6%
6
$5,262
$20,499
$312,978
8%
7
$5,614
$20,147
$307,364
10%
8
$5,990
$19,772
$301,374
11%
9
$6,390
$19,371
$294,984
13%
10
$6,818
$18,944
$288,166
15%
11
$7,273
$18,488
$280,893
17%
12
$7,760
$18,002
$273,133
20%
13
$8,279
$17,483
$264,855
22%
14
$8,832
$16,929
$256,023
25%
15
$9,423
$16,339
$246,600
27%
16
$10,053
$15,709
$236,547
30%
17
$10,725
$15,037
$225,822
34%
18
$11,442
$14,319
$214,380
37%
19
$12,207
$13,554
$202,173
41%
20
$13,023
$12,738
$189,150
44%
21
$13,894
$11,867
$175,256
48%
22
$14,823
$10,938
$160,432
53%
23
$15,814
$9,947
$144,618
57%
24
$16,872
$8,890
$127,746
62%
25
$18,000
$7,762
$109,746
68%
26
$19,204
$6,558
$90,543
73%
27
$20,488
$5,274
$70,055
79%
28
$21,858
$3,904
$48,197
86%
29
$23,319
$2,442
$24,878
93%
30
$24,878
$883
$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.

Next up

Continue the decision

All calculators →
Related
Home Affordability
Open calculator →
Related
Rent vs. Buy
Open calculator →
Related
Savings Goal
Open calculator →

Newsletter

Make it a habit.

One short email a month: new calculators, worksheets, and plain-English money guides.

Free forever. By signing up you agree to our privacy policy.

Run a website? Embed this calculator — free.Drop the mortgage payment calculator into your own pages with one snippet.Get the embed code →

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).