Principal vs interest
Lifetime mortgage repayment
Principal$0
Interest$0
United States · USD
U.S. mortgage calculator.
Estimate your full payment using American loan programs, costs, and payment conventions.
Balance over time
How your remaining principal declines
Amortization schedule
Annual summary including extra payments
| Year | Principal | Interest | Extra payments | Total paid | Ending balance |
|---|
Compare deposit and mortgage term
See how monthly payments and total interest change across different deposits and terms.
| Deposit | 15 years | 20 years | 25 years | 30 years |
|---|---|---|---|---|
| 10% | $3,528per month$230,037 interest | $3,020per month$319,697 interest | $2,735per month$415,377 interest | $2,560per month$516,555 interest |
| 15% | $3,332per month$217,257 interest | $2,852per month$301,936 interest | $2,583per month$392,300 interest | $2,418per month$487,858 interest |
| 20% | $3,136per month$204,478 interest | $2,684per month$284,175 interest | $2,431per month$369,224 interest | $2,275per month$459,160 interest |
| 25% | $2,940per month$191,698 interest | $2,516per month$266,414 interest | $2,279per month$346,147 interest | $2,133per month$430,463 interest |
6.50% interest rate · $450,000 property price
Interest-rate stress test
See how your payment and total interest could change if the mortgage rate rises.
0%+2.5%+5%
Stressed rate8.50%
Stressed monthly payment$2,768
Monthly difference+$493
Additional total interest+$177,352
This scenario holds the stressed rate constant for comparison. Actual variable, renewal, and lender rates may differ.
Save with extra payments
Add a monthly or yearly amount and see how much you could save over the full mortgage.
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Total interest saved$0
Time savedNo change
New payoff date—
Balance comparison
Standard paymentsWith extra payments
U.S. planning estimate only. Program insurance rates are simplified defaults, not eligibility or lending advice. Property taxes and insurance vary by location. Closing costs, loan limits, upfront fees and lender charges are not included.
U.S. home-loan guide
Estimate your complete monthly mortgage payment
A mortgage calculator helps you test how the home price, down payment, interest rate and loan term affect your monthly payment. This U.S. calculator also includes common ownership costs that a principal-and-interest estimate can miss: property taxes, homeowners insurance, homeowners association fees and applicable mortgage insurance.
Use the results to compare realistic scenarios before requesting official Loan Estimates. The figures are for planning only and do not represent a lender’s rate quote, approval decision or final closing disclosure.
What is included in a mortgage payment?
A complete monthly housing payment is often described as PITI: principal, interest, taxes and insurance. Principal reduces the amount borrowed, while interest is the cost charged for borrowing. Property taxes and homeowners insurance may be collected through an escrow account. Mortgage insurance can also be part of the payment, depending on the program and down payment. HOA or condominium dues are usually paid separately, but they still belong in a household budget.
The calculator shows these components separately so you can see the difference between the scheduled loan payment and the broader cost of owning the property. Taxes, insurance and HOA fees can change over time even when principal and interest are fixed.
Home price and down payment
The loan amount begins with the purchase price minus the down payment. A larger down payment reduces both the balance and the loan-to-value ratio. It may also reduce or avoid certain mortgage-insurance costs, but buyers should preserve enough cash for closing and emergencies.
Mortgage interest rate
The rate determines how much interest accrues on the outstanding principal. Even a modest rate difference can materially affect the payment and total interest over a long term. Use the stress test to see how a higher rate changes the budget.
Loan term
A 30-year mortgage generally spreads repayment over more installments than a 15-year loan, producing a lower scheduled payment but often more lifetime interest. The term comparison shows this tradeoff using the same balance and rate.
Taxes, insurance and HOA fees
Property tax depends on local rules and assessed value. Homeowners insurance depends on the property, coverage, location and insurer. HOA fees vary by community. Replace every default with figures for the specific home whenever possible.
How the monthly mortgage payment is calculated
For a fixed-rate, fully amortizing loan, the principal-and-interest payment is calculated from the amount borrowed, the periodic interest rate and the number of scheduled payments. Early payments contain more interest because the outstanding balance is larger. As the balance declines, more of each scheduled payment goes toward principal.
The amortization chart and schedule show that change over time. Property taxes, insurance, HOA fees and mortgage insurance are added separately because they do not amortize with the loan balance in the same way.
Conventional, FHA, VA and USDA mortgage estimates
U.S. mortgage programs can use different down-payment, insurance and fee structures. A conventional loan may require private mortgage insurance at higher loan-to-value ratios. FHA financing commonly includes upfront and annual mortgage insurance. Eligible VA and USDA borrowers can encounter program-specific guarantee or funding fees. The calculator uses simplified planning assumptions; verify eligibility, current fees, loan limits and lender overlays before relying on a program comparison.
How extra payments can reduce mortgage interest
Extra principal payments reduce the balance earlier than the original schedule. Because future interest is calculated from a smaller balance, recurring overpayments or a lump sum can shorten the payoff period and reduce total interest. Enter a monthly amount, annual amount or lump-sum payment to compare the standard and accelerated schedules visually.
Confirm how a servicer applies additional funds and check the loan documents for any prepayment restrictions. Extra payments normally do not reduce the required scheduled payment unless the loan is formally recast or refinanced.
Mortgage payment versus mortgage affordability
This calculator answers “What could the payment be?” It does not determine whether that payment fits your income, debts, savings and emergency-fund goals. Use the mortgage affordability calculator to work backwards from your household finances or test whether a specific home fits your budget.
U.S. mortgage calculator questions
Does this mortgage calculator include taxes and insurance?
Yes. Enter annual property tax and homeowners insurance amounts, and the calculator converts them to monthly estimates. These figures are added to principal, interest and other selected costs.
What is the difference between principal and interest and the total payment?
Principal and interest repay the mortgage itself. The total housing payment can also include property taxes, homeowners insurance, mortgage insurance and HOA or condominium fees.
Is mortgage insurance always required with less than 20% down?
Requirements depend on the loan program and lender. Conventional loans commonly require private mortgage insurance at higher LTV ratios, while government-backed programs use their own insurance or guarantee-fee rules.
How much can one extra mortgage payment save?
The result depends on the balance, rate, remaining term and when the payment is applied. An extra payment made earlier usually prevents more future interest than the same payment made near the end of the loan.
Why can my actual payment differ from the estimate?
Your rate, APR, closing costs, escrow calculation, insurance premium, property assessment, program fees and lender rules may differ from the assumptions entered. Compare the estimate with official disclosures from lenders.