Tools
Mortgage planning calculator
Estimate the first-month cost of owning a home: principal and interest, property tax, homeowners insurance, PMI and HOA. Add extra principal to see how the payoff changes. This is a planning illustration, not a loan offer or a closing disclosure.
Planning estimate
- Loan amount
- $320,000.00
- Principal & interest
- $1,970.30
- First-month housing cost
- $2,520.30
- First-month outlay
- $2,520.30
- Total interest
- $389,306.21
- Payoff
- 30 yr
- PMI paid
- $0.00
- Loan-to-value at close
- 80.00%
First-month housing cost includes principal, interest, property tax, insurance, PMI and HOA. First-month outlay adds any extra principal you schedule. No PMI is modeled at this down payment.
Yearly amortization
| Period | Principal paid | Interest paid | PMI paid | Balance |
|---|---|---|---|---|
| 1y | $3,749.75 | $19,893.79 | $0.00 | $316,250.25 |
| 2y | $7,740.68 | $39,546.40 | $0.00 | $312,259.32 |
| 3y | $11,988.32 | $58,942.30 | $0.00 | $308,011.68 |
| 4y | $16,509.18 | $78,064.98 | $0.00 | $303,490.82 |
| 5y | $21,320.83 | $96,896.88 | $0.00 | $298,679.17 |
| 6y | $26,441.97 | $115,419.28 | $0.00 | $293,558.03 |
| 7y | $31,892.51 | $133,612.27 | $0.00 | $288,107.49 |
| 8y | $37,693.64 | $151,454.68 | $0.00 | $282,306.36 |
| 9y | $43,867.91 | $168,923.96 | $0.00 | $276,132.09 |
| 10y | $50,439.32 | $185,996.09 | $0.00 | $269,560.68 |
| 11y | $57,433.41 | $202,645.53 | $0.00 | $262,566.59 |
| 12y | $64,877.38 | $218,845.10 | $0.00 | $255,122.62 |
| 13y | $72,800.16 | $234,565.87 | $0.00 | $247,199.84 |
| 14y | $81,232.54 | $249,777.02 | $0.00 | $238,767.46 |
| 15y | $90,207.31 | $264,445.79 | $0.00 | $229,792.69 |
| 16y | $99,759.36 | $278,537.29 | $0.00 | $220,240.64 |
| 17y | $109,925.81 | $292,014.38 | $0.00 | $210,074.19 |
| 18y | $120,746.18 | $304,837.55 | $0.00 | $199,253.82 |
| 19y | $132,262.54 | $316,964.73 | $0.00 | $187,737.46 |
| 20y | $144,519.65 | $328,351.16 | $0.00 | $175,480.35 |
| 21y | $157,565.16 | $338,949.19 | $0.00 | $162,434.84 |
| 22y | $171,449.79 | $348,708.10 | $0.00 | $148,550.21 |
| 23y | $186,227.50 | $357,573.94 | $0.00 | $133,772.50 |
| 24y | $201,955.73 | $365,489.24 | $0.00 | $118,044.27 |
| 25y | $218,695.64 | $372,392.87 | $0.00 | $101,304.36 |
| 26y | $236,512.28 | $378,219.77 | $0.00 | $83,487.72 |
| 27y | $255,474.93 | $382,900.66 | $0.00 | $64,525.07 |
| 28y | $275,657.29 | $386,361.85 | $0.00 | $44,342.71 |
| 29y | $297,137.81 | $388,524.86 | $0.00 | $22,862.19 |
| 30y | $320,000.00 | $389,306.21 | $0.00 | $0.00 |
Assumptions and limits
- This is a fixed-rate planning estimate, not a loan offer, approval, closing disclosure, or amortization schedule from a lender.
- Principal and interest are calculated from the loan amount, nominal annual rate and term. The monthly payment does not change unless you add extra principal.
- Property tax, homeowners insurance and HOA are entered by you and held constant. Actual escrow payments can change every year.
- PMI is modeled only when the down payment is below 20% and the scheduled balance is above 80% of the purchase price. Lender and investor PMI rules can differ.
- Closing costs, points, lender fees, title insurance, inspections, maintenance, utilities and tax deductions are excluded.
- The final payment may be smaller than the scheduled payment. The schedule retains full precision; displayed currency rounds to cents.
Read the Saving and Cash guide, or compare saving scenarios in the investment growth calculator.
Disclaimer
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Nothing on this site is a pick or a return promise. Official economic prints and company filings are dated observations. External quote links open a separate service; TickerGrove does not host those prices.