Mortgage Payment Calculator
Calculate your full monthly mortgage payment — principal & interest, taxes, insurance, PMI, HOA — with amortization, PMI drop-off, biweekly comparison, and extra-payment scenarios.
- 30yr Fixed6.51%
- 15yr Fixed5.84%
- 5/1 ARM6.47%
- 2yr Fixed5.68%
- 5yr Fixed5.63%
- Tracker3.96%
- Variable6.20%
- 2yr Fixed5.90%
- 5yr Fixed5.54%
- Variable5.95%
Rates shown are national averages for reference only. Actual rates vary by lender, credit score, and LTV. US 30/15-yr figures auto-refresh daily from the Freddie Mac PMMS public dataset.
Inputs
Taxes, insurance & PMI
Extra payments
| Year | Principal | Interest | Extra | Escrow | Ending balance |
|---|---|---|---|---|---|
| 2026 | $1,975.50 | $11,691.38 | $0.00 | $2,392.50 | $358,024.50 |
| 2027 | $4,148.70 | $23,185.06 | $0.00 | $4,840.35 | $353,875.80 |
| 2028 | $4,426.98 | $22,906.77 | $0.00 | $4,952.38 | $349,448.82 |
| 2029 | $4,723.94 | $22,609.82 | $0.00 | $5,067.11 | $344,724.88 |
| 2030 | $5,040.81 | $22,292.95 | $0.00 | $5,184.61 | $339,684.08 |
| 2031 | $5,378.93 | $21,954.82 | $0.00 | $5,304.93 | $334,305.14 |
| 2032 | $5,739.74 | $21,594.01 | $0.00 | $5,428.17 | $328,565.40 |
| 2033 | $6,124.75 | $21,209.00 | $0.00 | $5,554.38 | $322,440.65 |
| 2034 | $6,535.59 | $20,798.17 | $0.00 | $5,683.65 | $315,905.06 |
| 2035 | $6,973.98 | $20,359.77 | $0.00 | $5,816.05 | $308,931.07 |
| 2036 | $7,441.78 | $19,891.97 | $0.00 | $5,951.66 | $301,489.29 |
| 2037 | $7,940.96 | $19,392.79 | $0.00 | $6,090.55 | $293,548.33 |
| 2038 | $8,473.63 | $18,860.13 | $0.00 | $6,232.83 | $285,074.70 |
| 2039 | $9,042.02 | $18,291.73 | $0.00 | $6,378.56 | $276,032.68 |
| 2040 | $9,648.54 | $17,685.21 | $0.00 | $6,527.84 | $266,384.14 |
| 2041 | $10,295.75 | $17,038.01 | $0.00 | $6,680.75 | $256,088.39 |
| 2042 | $10,986.36 | $16,347.39 | $0.00 | $6,837.39 | $245,102.03 |
| 2043 | $11,723.31 | $15,610.45 | $0.00 | $6,997.86 | $233,378.72 |
| 2044 | $12,509.68 | $14,824.07 | $0.00 | $7,162.25 | $220,869.04 |
| 2045 | $13,348.81 | $13,984.95 | $0.00 | $7,330.66 | $207,520.23 |
| 2046 | $14,244.22 | $13,089.54 | $0.00 | $7,503.19 | $193,276.01 |
| 2047 | $15,199.69 | $12,134.06 | $0.00 | $7,679.95 | $178,076.32 |
| 2048 | $16,219.26 | $11,114.50 | $0.00 | $7,861.05 | $161,857.06 |
| 2049 | $17,307.21 | $10,026.54 | $0.00 | $8,046.60 | $144,549.85 |
| 2050 | $18,468.14 | $8,865.61 | $0.00 | $8,236.70 | $126,081.70 |
| 2051 | $19,706.95 | $7,626.81 | $0.00 | $8,431.48 | $106,374.75 |
| 2052 | $21,028.85 | $6,304.90 | $0.00 | $8,631.06 | $85,345.90 |
| 2053 | $22,439.43 | $4,894.33 | $0.00 | $8,835.56 | $62,906.48 |
| 2054 | $23,944.62 | $3,389.14 | $0.00 | $9,045.11 | $38,961.86 |
| 2055 | $25,550.77 | $1,782.98 | $0.00 | $9,259.83 | $13,411.09 |
| 2056 | $13,411.09 | $255.79 | $0.00 | $4,684.25 | $0.00 |
How to use this calculator
- Pick your currency and enter the home price (or tap a preset).
- Set your down payment in dollars or percent — they stay synced.
- Choose a loan term and enter your quoted rate, or click "Use" on the live rates banner.
- Open "Taxes, insurance & PMI" to auto-fill property tax from your state, add HOA, and set annual escalators.
- Open "Extra payments" to see the effect of paying extra monthly or an annual lump sum.
- Compare the biweekly schedule and browse the year-by-year or month-by-month amortization.
How it works
Principal & interest use the standard amortizing-loan formula: M = P · r / (1 − (1 + r)−n), where P is the loan amount, r is the monthly rate (annual ÷ 12), and n is the number of monthly payments (term × 12).
Each month interest is charged on the remaining balance, the rest of the payment reduces principal, and any extra principal you add is applied immediately — shortening the loan and slashing lifetime interest.
PMI is charged monthly (rate × original loan ÷ 12) and automatically drops off the month your loan-to-value ratio reaches 80%. Taxes, insurance, HOA, and "other" escrow can escalate annually at the rates you set.
The biweekly schedule pays half the monthly P&I every 2 weeks, giving 26 half-payments per year — one extra full payment applied straight to principal.
Frequently asked questions
What's included in the total monthly payment?
PITI + PMI + HOA + other: principal, interest, property taxes, homeowners insurance, PMI (if applicable), HOA dues, and any other monthly housing cost you enter.
When does PMI drop off?
By law (Homeowners Protection Act), your lender must automatically cancel PMI when your loan-to-value reaches 78% based on the original schedule. You can request cancellation at 80% LTV — this calculator uses the 80% trigger.
How accurate is the state property tax?
We pre-fill your state's average effective rate. Actual rates vary heavily by county and municipality — override the field if you know your specific rate.
Does paying extra really help?
Enormously. On a $360K, 30-year, 6.5% loan, adding just $200/month cuts about 6 years and $95K+ in interest. Try it in the Extra payments section.
Should I choose biweekly?
Biweekly pays down the balance faster by adding one extra payment per year. If your budget is monthly, you can DIY by paying 1/12 extra each month instead of setting up a formal biweekly plan.
Why is my APR higher than the interest rate?
APR includes lender fees and points spread over the loan life. For a rough comparison use rate; for the true cost of borrowing use APR (see our APR calculator).
What if my down payment is less than 20%?
Conventional loans typically require PMI until your LTV reaches 80%. FHA and VA loans use different insurance structures — see those dedicated calculators.
Does this handle other currencies?
Yes — pick from 34 currencies at the top of the inputs. All formatting updates instantly.