Last updated: September 16, 2026
Mortgage Calculator
Exact monthly payments, lifetime interest & payoff schedules.
Your home loan
Principal & interest only — taxes, insurance, and HOA dues are extra. Educational estimate, not financial advice.
Monthly payment
$2,022.62
principal + interest
Loan amount
$320,000.00
Lifetime interest
$408,142.36
Year-by-year payoff schedule
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $24,271.41 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $24,271.41 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $24,271.41 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $24,271.41 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $24,271.41 | $4,635.50 | $19,635.91 | $299,555.13 |
| 6 | $24,271.41 | $4,945.95 | $19,325.46 | $294,609.18 |
| 7 | $24,271.41 | $5,277.19 | $18,994.22 | $289,331.98 |
| 8 | $24,271.41 | $5,630.62 | $18,640.80 | $283,701.37 |
| 9 | $24,271.41 | $6,007.71 | $18,263.70 | $277,693.66 |
| 10 | $24,271.41 | $6,410.06 | $17,861.36 | $271,283.60 |
| 11 | $24,271.41 | $6,839.35 | $17,432.06 | $264,444.26 |
| 12 | $24,271.41 | $7,297.39 | $16,974.02 | $257,146.86 |
| 13 | $24,271.41 | $7,786.11 | $16,485.30 | $249,360.75 |
| 14 | $24,271.41 | $8,307.56 | $15,963.85 | $241,053.19 |
| 15 | $24,271.41 | $8,863.94 | $15,407.48 | $232,189.25 |
| 16 | $24,271.41 | $9,457.57 | $14,813.84 | $222,731.68 |
| 17 | $24,271.41 | $10,090.96 | $14,180.45 | $212,640.72 |
| 18 | $24,271.41 | $10,766.77 | $13,504.64 | $201,873.95 |
| 19 | $24,271.41 | $11,487.84 | $12,783.57 | $190,386.11 |
| 20 | $24,271.41 | $12,257.20 | $12,014.21 | $178,128.90 |
| 21 | $24,271.41 | $13,078.09 | $11,193.32 | $165,050.81 |
| 22 | $24,271.41 | $13,953.96 | $10,317.46 | $151,096.86 |
| 23 | $24,271.41 | $14,888.48 | $9,382.93 | $136,208.38 |
| 24 | $24,271.41 | $15,885.59 | $8,385.83 | $120,322.79 |
| 25 | $24,271.41 | $16,949.47 | $7,321.94 | $103,373.32 |
| 26 | $24,271.41 | $18,084.61 | $6,186.80 | $85,288.71 |
| 27 | $24,271.41 | $19,295.77 | $4,975.64 | $65,992.94 |
| 28 | $24,271.41 | $20,588.05 | $3,683.37 | $45,404.89 |
| 29 | $24,271.41 | $21,966.86 | $2,304.55 | $23,438.03 |
| 30 | $24,271.41 | $23,438.03 | $833.39 | $0.00 |
Understand Your Mortgage Before You Sign
A mortgage is mostly interest wearing a payment costume: on a typical 30-year loan, the first years barely dent principal. The year-by-year schedule above makes this concrete — find the year your payments flip from interest-heavy to principal-heavy, and any extra-payment strategy suddenly has a visible payoff date.
Planning investments alongside? The investment growth calculator shows what down-payment money could earn instead, and the loan EMI calculator handles auto and personal loans with the same exact math.
Exact Amortization
Bank-grade schedules, verified to the cent.
Private Figures
Home prices stay on your device, always.
Compare Instantly
15 vs 30 years, 6% vs 7% — answers in seconds.
Frequently Asked Questions
How is a monthly mortgage payment calculated?
With the amortization formula on principal, monthly rate, and term: payment = P×i÷(1−(1+i)^−n). Early payments are mostly interest; principal dominates later. The schedule table above shows the flip year by year.
How much house can I afford?
Lenders commonly allow ~28% of gross monthly income for housing. Enter candidate prices until the payment fits that budget — then stress-test with a rate 1-2 points higher before committing.
Is a 15-year mortgage really that much cheaper than 30-year?
Dramatically. On $400,000 at 6.5%, 30 years costs ~$510,000 in interest versus ~$220,000 over 15 years — but monthly payments run ~50% higher. Compare both terms in seconds with the term slider.
Does a bigger down payment matter beyond the loan size?
Yes: 20% down typically avoids private mortgage insurance (PMI), lowers the rate lenders offer, and cuts lifetime interest three ways at once. The down-payment slider shows all three effects live.
What is NOT included in this estimate?
Property taxes, homeowner insurance, HOA dues, and PMI — often 20-40% on top of principal and interest. Add your local figures to the monthly number for the true housing cost.
Is my home price and income data private here?
Completely. All math runs locally in your browser — nothing is uploaded, stored, or tracked.
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