Mortgage Calculator
Calculate your full monthly mortgage payment — principal, interest, property tax, home insurance, and HOA fees in one number. Plus total interest paid over the life of the loan.
- Principal & interest
- $2,023
- Property tax
- $400
- Home insurance
- $125
- Loan amount
- $320,000
- Total interest
- $408,142
- Total cost
- $728,142
The mortgage formula
Your monthly principal & interest comes from the amortization formula:
Where P = loan amount, r = monthly rate (annual rate ÷ 12), and n = total monthly payments (years × 12).
The full monthly payment adds property tax, home insurance, and HOA — these aren't lender-required math but they're money out of your account every month, so the real cost includes them.
Frequently asked questions
This calculator shows two numbers: monthly principal & interest (P&I), and total monthly payment which adds property tax, home insurance, and HOA fees. Lenders quote you P&I; the bigger number is what you'll actually pay each month.
Planning to build savings alongside your mortgage? See how compound interest grows your savings over time.
More finance tools coming.
Loan repayment, retirement, and tax calculators are next.
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