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C.01 · Housing

What would this house really cost you?

Principal & interest is the headline number. Taxes, insurance, PMI, and HOA are where the real math hides. Move the sliders — we'll show you all of it.

Rate data
Freddie Mac PMMS
Freddie Mac weekly survey, via FRED — refreshed daily.
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Inputs
Home price
$425,000
Down payment
20.0%
Interest rateTypical 30-year fixed rate today: 7.40%
7.40%
Loan term
30 yrs
Taxes, insurance, HOA
%/yr
$/yr
$/mo
PMI
$0 — not required at 20%+ down
Monthly payment · everything included
$2,869/mo
Loan amount
$340,000
Down payment
$85,000
Total interest
$507,473
Total paid + down
$932,473
Loan balance over time (what you still owe)
How your remaining loan balance shrinks over 30 years
$0$168K$337KYear 0Year 15Year 30Interest-heavyEquity builds faster
Year-by-year

Year-by-year payoff schedule (amortization)

How each year splits between paying down your loan and paying interest. In early years almost every dollar is interest; the turning point — where more goes to your loan than to interest — is where ownership really starts.

Year
Principal
Interest
Balance
Progress
1
$3,196
$25,053
$336,804
1%
2
$3,441
$24,808
$333,363
2%
3
$3,704
$24,545
$329,659
3%
4
$3,988
$24,261
$325,671
4%
5
$4,293
$23,956
$321,378
5%
6
$4,622
$23,627
$316,756
7%
7
$4,976
$23,273
$311,781
8%
8
$5,357
$22,893
$306,424
10%
9
$5,767
$22,482
$300,657
12%
10
$6,208
$22,041
$294,449
13%
11
$6,684
$21,566
$287,766
15%
12
$7,195
$21,054
$280,571
17%
13
$7,746
$20,503
$272,824
20%
14
$8,339
$19,910
$264,485
22%
15
$8,978
$19,271
$255,508
25%
16
$9,665
$18,584
$245,843
28%
17
$10,405
$17,844
$235,438
31%
18
$11,202
$17,048
$224,236
34%
19
$12,059
$16,190
$212,177
38%
20
$12,982
$15,267
$199,195
41%
21
$13,976
$14,273
$185,218
46%
22
$15,046
$13,203
$170,172
50%
23
$16,198
$12,051
$153,973
55%
24
$17,439
$10,810
$136,535
60%
25
$18,774
$9,475
$117,761
65%
26
$20,211
$8,038
$97,550
71%
27
$21,759
$6,491
$75,791
78%
28
$23,424
$4,825
$52,367
85%
29
$25,218
$3,031
$27,149
92%
30
$27,149
$1,100
$0
100%
How we compute this

The formula behind the number.

The monthly principal-and-interest payment on a fixed-rate mortgage follows one equation, where P = amount borrowed · r = monthly rate (annual ÷ 12) · n = total monthly payments:

M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]

where P is the loan amount, r is the monthly interest rate (annual ÷ 12), and n is the number of monthly payments. Property tax, insurance, PMI, and HOA are added on top — they don't factor into the amortization, but they're very real when the autopay hits.

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Frequently Asked Questions

A mortgage payment is made up of four parts — principal (paying down the loan balance), interest (the cost of borrowing), property taxes, and homeowner's insurance (sometimes called PITI). If your down payment is less than 20%, you may also pay private mortgage insurance (PMI).

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Guides That Pair With This Calculator

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Guide

How Mortgage Payments Actually Work

A clear breakdown of principal, interest, taxes, and insurance -- and how to lower your monthly payment.