Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, and insurance.
Principal vs Interest Over Time
Principal Payment
Interest Payment
Remaining Balance
$320,000
Total Loan Amount
$408,142
Total Interest Paid
$728,142
Total Amount Paid
Monthly Payment Breakdown
Principal & Interest:$2,023
Property Taxes:$417
Home Insurance:$100
$2,539
Total Monthly Payment
Mortgage Parameters
Amortization Schedule
| Year | Principal | Interest | Total Payment | Remaining Balance |
|---|---|---|---|---|
| 1 | $289 | $1,733 | $2,023 | $319,711 |
| 1 | $307 | $1,716 | $2,023 | $316,423 |
| 2 | $328 | $1,695 | $2,023 | $312,607 |
| 3 | $349 | $1,673 | $2,023 | $308,535 |
| 4 | $373 | $1,650 | $2,023 | $304,191 |
| 5 | $398 | $1,625 | $2,023 | $299,555 |
| 6 | $425 | $1,598 | $2,023 | $294,609 |
| 7 | $453 | $1,570 | $2,023 | $289,332 |
| 8 | $483 | $1,539 | $2,023 | $283,701 |
| 9 | $516 | $1,507 | $2,023 | $277,694 |
| 10 | $550 | $1,472 | $2,023 | $271,284 |
| 11 | $587 | $1,436 | $2,023 | $264,444 |
| 12 | $626 | $1,396 | $2,023 | $257,147 |
| 13 | $668 | $1,354 | $2,023 | $249,361 |
| 14 | $713 | $1,310 | $2,023 | $241,053 |
| 15 | $761 | $1,262 | $2,023 | $232,189 |
| 16 | $812 | $1,211 | $2,023 | $222,732 |
| 17 | $866 | $1,156 | $2,023 | $212,641 |
| 18 | $924 | $1,098 | $2,023 | $201,874 |
| 19 | $986 | $1,037 | $2,023 | $190,386 |
| 20 | $1,052 | $971 | $2,023 | $178,129 |
| 21 | $1,123 | $900 | $2,023 | $165,051 |
| 22 | $1,198 | $825 | $2,023 | $151,097 |
| 23 | $1,278 | $745 | $2,023 | $136,208 |
| 24 | $1,363 | $659 | $2,023 | $120,323 |
| 25 | $1,455 | $568 | $2,023 | $103,373 |
| 26 | $1,552 | $470 | $2,023 | $85,289 |
| 27 | $1,656 | $366 | $2,023 | $65,993 |
| 28 | $1,767 | $256 | $2,023 | $45,405 |
| 29 | $1,885 | $137 | $2,023 | $23,438 |
| 30 | $2,012 | $11 | $2,023 | $0 |
Total Principal Paid:$320,000
Total Interest Paid:$408,142
📚 Key Terms
APR
Annual Percentage Rate including fees
PMI
Private Mortgage Insurance
DTI
Debt-to-Income ratio
Escrow
Account for taxes and insurance
🏠 Interesting Facts
🎯 30-Year Mystery
The 30-year mortgage was invented during the Great Depression to make homes affordable!
💰 Interest Shock
On a $300k mortgage, you'll pay over $200k in interest over 30 years!
🏡 Home Sweet Math
Making just one extra payment per year cuts 4-6 years off your mortgage!
📈 Rate Impact
A 1% rate increase adds ~$200/month to a $300k mortgage payment!
🎰 Credit Score Magic
Improving your credit by 100 points can save $50,000+ over 30 years!
🏠 Medieval Mortgages
"Mortgage" comes from French meaning "death pledge" - paid until death!
💎 15 vs 30 Secret
A 15-year mortgage saves over $150k in interest vs 30-year on $400k loan!
🔮 Payment 1 vs 360
Your first payment: 80% interest, 20% principal. Last payment: flipped!