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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: 6.66%
6.66%
Loan term
30 yrs
Taxes, insurance, HOA
%/yr
$/yr
$/mo
PMI
$0 — not required at 20%+ down
Monthly payment · everything included
$2,700/mo
Loan amount
$340,000
Down payment
$85,000
Total interest
$446,575
Total paid + down
$871,575
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
$3,686
$22,533
$336,314
1%
2
$3,940
$22,280
$332,374
2%
3
$4,210
$22,009
$328,164
3%
4
$4,499
$21,720
$323,665
5%
5
$4,808
$21,411
$318,857
6%
6
$5,138
$21,081
$313,719
8%
7
$5,491
$20,728
$308,227
9%
8
$5,868
$20,351
$302,359
11%
9
$6,271
$19,948
$296,088
13%
10
$6,702
$19,517
$289,386
15%
11
$7,162
$19,057
$282,224
17%
12
$7,654
$18,565
$274,570
19%
13
$8,179
$18,040
$266,391
22%
14
$8,741
$17,478
$257,650
24%
15
$9,341
$16,878
$248,308
27%
16
$9,983
$16,236
$238,325
30%
17
$10,668
$15,551
$227,657
33%
18
$11,401
$14,818
$216,256
36%
19
$12,184
$14,035
$204,072
40%
20
$13,021
$13,198
$191,051
44%
21
$13,915
$12,304
$177,136
48%
22
$14,870
$11,349
$162,266
52%
23
$15,892
$10,328
$146,374
57%
24
$16,983
$9,236
$129,391
62%
25
$18,149
$8,070
$111,242
67%
26
$19,395
$6,824
$91,847
73%
27
$20,727
$5,492
$71,120
79%
28
$22,151
$4,069
$48,969
86%
29
$23,672
$2,547
$25,297
93%
30
$25,297
$922
$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).

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Guides That Pair With This Calculator

Understand the concept behind the numbers before you run them.

Guide

How Mortgage Payments Actually Work

A clear breakdown of principal, interest, taxes, and insurance -- and how to lower your monthly payment.