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Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, insurance, and more. See your full amortization schedule.
Mortgage Details
Enter your home purchase information
$
$
%
Additional Costs (Annual)
$
$
$
$
Monthly Payment
$2,422.62
$2,022.62 P&I + $400 extras
Monthly Payment Breakdown
Principal & Interest$2,022.62
Property Tax$300
Home Insurance$100
Total$2,422.62
Loan Amount
$320,000
Down Payment
$80,000
20.0%
Total Interest
$408,142.36
LTV Ratio
80.0%
Total Cost Breakdown
Principal
37%
$320,000
Interest
47%
$408,142.36
Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $4,635.5 | $19,635.91 | $299,555.13 |
| 6 | $4,945.95 | $19,325.46 | $294,609.18 |
| 7 | $5,277.19 | $18,994.22 | $289,331.98 |
| 8 | $5,630.62 | $18,640.8 | $283,701.37 |
| 9 | $6,007.71 | $18,263.7 | $277,693.66 |
| 10 | $6,410.06 | $17,861.36 | $271,283.6 |
Showing first 10 years of 30
Understanding Your Mortgage
Principal & Interest (P&I): Your core mortgage payment. Early payments go mostly to interest; later payments pay down more principal.
PMI (Private Mortgage Insurance): Required if your down payment is less than 20%. Can often be removed once you have 20% equity.
LTV (Loan-to-Value): The ratio of your loan to the home value. Lower LTV means better rates and no PMI.
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