Mortgage Amortization Calculator

Estimate principal and interest, property costs, PMI, extra-payment savings and a complete monthly amortization schedule.

Home price ($)

Down payment (%)

Annual interest rate (%)

Loan term (years)

Annual property tax ($)

Annual home insurance ($)

Annual PMI (%)

Monthly HOA ($)

Extra monthly payment ($)

Methodology and assumptions

Monthly principal and interest uses M = P × r(1+r)ⁿ ÷ ((1+r)ⁿ−1), where r is the monthly rate and n is the number of payments. Taxes, insurance, PMI and HOA are added separately.

Limitations: Actual lender payments, escrow adjustments, PMI rules, taxes, fees and rates vary.

For educational estimates only. Results are not financial, tax, engineering or investment advice. Verify important decisions with a qualified professional and current official data.

Methodology reviewed: 1 October 2026

How to interpret your mortgage amortization results

A fixed-rate mortgage payment is split between interest and principal. Early payments generally contain more interest because interest is calculated from the outstanding balance. As the balance falls, more of the same scheduled payment reduces principal. Property tax, homeowners insurance, mortgage insurance and HOA charges are ownership costs, but they do not reduce the loan balance.

Worked example

For a $320,000 fixed-rate loan at 6.5% for 30 years, the principal-and-interest payment is approximately $2,022.62 per month. A $4,800 annual property-tax estimate adds $400 per month, and $1,800 annual insurance adds $150. Therefore, the planning total before HOA or PMI is about $2,572.62. Actual escrow collections can change.

Competitor-level checks included

Principal and interest are calculated separately from ownership costs.
Extra monthly payments reduce principal and recalculate payoff time and interest.
The schedule stops when the balance reaches zero rather than displaying artificial negative balances.
Zero-interest loans use principal divided by the number of payments.

Primary reference: US Consumer Financial Protection Bureau—amortization. Check the loan agreement for prepayment penalties and lender-specific rules.

Frequently asked questions

Why is my first payment mostly interest?

Interest is calculated from the outstanding balance, which is highest at the start of the loan.

Does the payment include taxes and insurance?

The result displays principal and interest separately and adds user-entered tax, insurance, PMI and HOA estimates to the planning total.

Can extra payments shorten the loan?

Yes. An extra amount applied to principal reduces the balance used for future interest, subject to your loan terms.