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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.
Jump to a scenario
Inputs
Home price
$425,000
Down payment
20.0%
Interest rateTypical 30-year fixed rate today: 6.69%
6.69%
Loan term
30 yrs
Taxes, insurance, HOA
%/yr
$/yr
$/mo
PMI
$0 — not required at 20%+ down
Monthly payment · everything included
$2,706/mo
Loan amount
$340,000
Down payment
$85,000
Total interest
$449,009
Total paid + down
$874,009
Loan balance over time (what you still owe)
How your remaining loan balance shrinks over 30 years
$0$168K$336KYear 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
$3,665
$22,635
$336,335
1%
2
$3,918
$22,382
$332,416
2%
3
$4,189
$22,112
$328,228
3%
4
$4,477
$21,823
$323,751
5%
5
$4,786
$21,514
$318,964
6%
6
$5,117
$21,184
$313,848
8%
7
$5,470
$20,831
$308,378
9%
8
$5,847
$20,453
$302,531
11%
9
$6,250
$20,050
$296,281
13%
10
$6,682
$19,619
$289,599
15%
11
$7,142
$19,158
$282,457
17%
12
$7,635
$18,665
$274,822
19%
13
$8,162
$18,138
$266,660
22%
14
$8,725
$17,575
$257,935
24%
15
$9,327
$16,973
$248,608
27%
16
$9,970
$16,330
$238,637
30%
17
$10,658
$15,642
$227,979
33%
18
$11,394
$14,907
$216,585
36%
19
$12,180
$14,121
$204,405
40%
20
$13,020
$13,280
$191,385
44%
21
$13,918
$12,382
$177,467
48%
22
$14,878
$11,422
$162,589
52%
23
$15,905
$10,395
$146,684
57%
24
$17,002
$9,298
$129,682
62%
25
$18,175
$8,125
$111,507
67%
26
$19,429
$6,871
$92,077
73%
27
$20,769
$5,531
$71,308
79%
28
$22,202
$4,098
$49,106
86%
29
$23,734
$2,566
$25,372
93%
30
$25,372
$929
$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

Understand the concept behind the numbers before you run them.

Guide

How Mortgage Payments Actually Work

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