Enter Home price ($), Down payment ($) and Interest rate (%) and the remaining scenario settings to review principal + interest with this tool. Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month.
| Year | Principal paid | Interest paid | Balance remaining |
|---|---|---|---|
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Click "Calculate payment" to see your amortization schedule |
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See the difference in monthly payments
Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]
P = principal, r = periodic interest rate, n = number of payments.The calculation links Home price ($), Down payment ($) and Interest rate (%) to principal + interest. Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month. These components can change independently.
Enter Home price ($), Down payment ($) and Interest rate (%) and the remaining scenario settings to review principal + interest with this tool. Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month.
Estimate a home-loan payment and the additional housing expenses entered on the form. Use the breakdown to distinguish financing from the full monthly housing budget.
Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month. These components can change independently.
Prepare Home price ($), Down payment ($), Interest rate (%), Loan term (years), Property tax / year ($), Insurance / year ($), PMI / month ($) and HOA / month ($). Enter property price and down payment first, then add realistic taxes, insurance and other requested housing charges.
Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month. These components can change independently. Escrow adjustments, association assessments, maintenance and lender-specific insurance rules may not be fully modeled. The payment is not a lender quote.
Use the full settings in the worked-example table. They produce Principal + interest: 2022.62. Compare the method and units as well as the displayed number.
The displayed relationship is Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1] P = principal, r = periodic interest rate, n = number of payments. Enter property price and down payment first, then add realistic taxes, insurance and other requested housing charges.
Escrow adjustments, association assessments, maintenance and lender-specific insurance rules may not be fully modeled. The payment is not a lender quote. For a transaction or account decision, compare the inputs with the applicable statement, contract or official rules.
Worked mortgage calculator example. Set Home price ($) = 400000; Down payment ($) = 80000; Interest rate (%) = 6.5; Loan term (years) = 30; Property tax / year ($) = 4000; Insurance / year ($) = 1200; PMI / month ($) = 0; HOA / month ($) = 0. The corresponding output is Principal + interest: 2022.62. Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month.
Estimate a home-loan payment and the additional housing expenses entered on the form. Use the breakdown to distinguish financing from the full monthly housing budget.
Enter property price and down payment first, then add realistic taxes, insurance and other requested housing charges.
| Field | Example value | Entry check |
|---|---|---|
| Home price ($) | 400000 | Use the amount for this scenario in the currency and period shown by the field. |
| Down payment ($) | 80000 | Use the amount for this scenario in the currency and period shown by the field. |
| Interest rate (%) | 6.5 | Enter a percentage in the form requested by the field, keeping its stated time basis. |
| Loan term (years) | 30 | Use the period unit in the field label; months and years are not interchangeable. |
| Property tax / year ($) | 4000 | Check whether this amount is one-time, monthly or annual before entering it. |
| Insurance / year ($) | 1200 | Check whether this amount is one-time, monthly or annual before entering it. |
| PMI / month ($) | 0 | Use the amount for this scenario in the currency and period shown by the field. |
| HOA / month ($) | 0 | Use the amount for this scenario in the currency and period shown by the field. |
Relationship used for this example: Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1] P = principal, r = periodic interest rate, n = number of payments.
Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month. These components can change independently.
| Output | Displayed result |
|---|---|
| Principal + interest | 2022.62 |
With these settings, principal + interest is 2022.62. Use the same units and calculation mode when reproducing this example.
Principal and interest repay the loan; taxes, insurance and other entered charges add to the cash required each month. These components can change independently. Escrow adjustments, association assessments, maintenance and lender-specific insurance rules may not be fully modeled. The payment is not a lender quote.
Replace the illustrative home price ($) value (400000) with your own value, then complete the other inputs for the same scenario. Enter property price and down payment first, then add realistic taxes, insurance and other requested housing charges.