Mortgage calculator
Monthly payment, amortization schedule, and costs with taxes, insurance, and PMI.
Payment breakdown
Principal & interest
$2,661.21Initial total payment
$3,081.21Total interest
$558,035.59Amortization schedule
First 12 of 360 payments
| Month | Principal | Interest | PMI | Total | Balance |
|---|---|---|---|---|---|
| 1 | $327.88 | $2,333.33 | $0.00 | $3,081.21 | $399,672.12 |
| 2 | $329.79 | $2,331.42 | $0.00 | $3,081.21 | $399,342.33 |
| 3 | $331.71 | $2,329.50 | $0.00 | $3,081.21 | $399,010.62 |
| 4 | $333.65 | $2,327.56 | $0.00 | $3,081.21 | $398,676.97 |
| 5 | $335.59 | $2,325.62 | $0.00 | $3,081.21 | $398,341.38 |
| 6 | $337.55 | $2,323.66 | $0.00 | $3,081.21 | $398,003.83 |
| 7 | $339.52 | $2,321.69 | $0.00 | $3,081.21 | $397,664.31 |
| 8 | $341.50 | $2,319.71 | $0.00 | $3,081.21 | $397,322.80 |
| 9 | $343.49 | $2,317.72 | $0.00 | $3,081.21 | $396,979.31 |
| 10 | $345.50 | $2,315.71 | $0.00 | $3,081.21 | $396,633.81 |
| 11 | $347.51 | $2,313.70 | $0.00 | $3,081.21 | $396,286.30 |
| 12 | $349.54 | $2,311.67 | $0.00 | $3,081.21 | $395,936.76 |
Taxes and insurance are included in totals but do not reduce balance.
Frequently asked questions
- How is the monthly mortgage payment calculated?
- We use the standard amortization formula with your loan amount, annual interest rate, and term. Taxes, insurance, and PMI are added on top of principal and interest.
- When does PMI stop?
- PMI is removed once your loan-to-value reaches 80%. In this calculator, that happens automatically when your remaining balance is 80% of your original loan.