Mortgage Payment Calculator
Your real monthly payment, including taxes, insurance, PMI and HOA — plus the full amortization schedule you can export. No ads. No signup wall.
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The costs most calculators hide
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Amortization schedule
| Month | Payment | Principal | Interest | Balance |
|---|
What this number actually means
Most mortgage calculators show you principal and interest and stop there. That is not your payment. That is a fraction of your payment. The number that hits your bank account every month is PITI — principal, interest, taxes and insurance — plus PMI if you are under 20% down, plus HOA if the property has one.
This is the single most common shock in the whole process. A buyer budgets around a $2,500 principal and interest figure they found online, then sees $3,100 on the closing disclosure and thinks something went wrong. Nothing went wrong. Taxes and insurance were always going to be there. They just were not in the number they were shown.
The part of the schedule people miss
Scroll the amortization table and look at month one. On a 30 year loan at a normal rate, the overwhelming majority of that first payment is interest, and only a sliver touches principal. That ratio flips slowly, and it does not reach an even split until surprisingly deep into the loan. This is not a trick. It is just how amortization works: interest is charged on the balance you still owe, and early on you still owe nearly all of it.
Two consequences worth internalizing. First, in the early years you build equity mostly through your down payment and appreciation, not through paydown. Second, extra principal is disproportionately powerful early, because every dollar you knock off the balance now is a dollar that stops generating interest for the entire remaining life of the loan. Put a number in the extra principal field and watch the payoff time move.
For the loan officers reading this
The PITI gap is where deals die. If you quote a client on principal and interest and let them fall in love with that figure, you have set up a payment shock conversation later, and later is exactly when you have the least room to fix it. Quote full PITI from the first conversation. You will lose a couple of deals up front to a real number, and you will save the ones that would have collapsed at the disclosure.
Common questions
How is a mortgage payment calculated?
The principal and interest portion comes from a standard amortization formula using three inputs: the loan amount, the monthly interest rate, and the number of months in the term. The payment is fixed, but the split between principal and interest changes every single month. Taxes, insurance, PMI and HOA are added on top and are usually collected in escrow.
Why is so much of my early payment interest?
Interest is calculated on your outstanding balance. In month one your balance is at its maximum, so the interest charge is at its maximum. As the balance falls, the interest portion falls and the principal portion grows. The payment stays the same, the mix changes.
Does paying extra principal really help?
Yes, and more than most people expect, because it compounds. Every extra dollar toward principal permanently removes that dollar from all future interest calculations. Enter an amount in the extra principal field to see the effect on your payoff date and total interest.
Are these numbers a quote?
No. This is an educational estimate based only on what you typed. Your actual rate, taxes, insurance and mortgage insurance depend on your credit, the property, the state, and the loan program. Nothing here is an offer of credit or a commitment to lend.