Free mortgage calculator
See your monthly payment broken down by principal, interest, taxes, and insurance — with real rates for your state.
Compare lenders for a $360,000 loan
Amortization schedule
For every $1 of principal, you pay $1.36 in interest over 30 years.
| Year | Principal Paid | Interest Paid | Cumulative Principal | Cumulative Interest | Remaining Balance |
|---|---|---|---|---|---|
| Year 1 | $3,764 | $24,543 | $3,764 | $24,543 | $356,236 |
| Year 2 | $4,030 | $24,277 | $7,794 | $48,820 | $352,206 |
| Year 3 | $4,315 | $23,992 | $12,109 | $72,813 | $347,891 |
| Year 4 | $4,620 | $23,687 | $16,729 | $96,500 | $343,271 |
| Year 5 | $4,946 | $23,361 | $21,675 | $119,861 | $338,325 |
How it works
Enter your home price, down payment, interest rate, loan term, and state. The calculator computes your principal and interest payment using the standard amortization formula, then adds estimated property taxes (based on your state's average rate), homeowners insurance (~0.5% annually), and PMI if your down payment is less than 20%.
The result is your estimated total monthly housing payment — what lenders call PITI (Principal, Interest, Taxes, Insurance). Most lenders require this to be no more than 28% of your gross monthly income.