Mortgage Calculator with Amortization Schedule
Estimate your monthly principal and interest, total interest paid over the life of the loan, and view a full amortization schedule. Add property taxes, homeowners insurance, and extra monthly payments for a realistic total housing cost.
Inputs
Applied to principal each month.
Results
- Monthly principal & interest
- $2,075.51
- Monthly total (with taxes & insurance)
- $2,600.51
- Loan amount
- $320,000.00
- Total interest paid
- $427,185.01
- Payoff in
- 360 months (30 years)
Includes inputs, results, and schedule.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,410.39 | $21,495.77 | $316,589.61 |
| 2 | $3,647.85 | $21,258.31 | $312,941.75 |
| 3 | $3,901.84 | $21,004.32 | $309,039.91 |
| 4 | $4,173.52 | $20,732.64 | $304,866.39 |
| 5 | $4,464.12 | $20,442.05 | $300,402.27 |
| 6 | $4,774.94 | $20,131.22 | $295,627.33 |
| 7 | $5,107.41 | $19,798.75 | $290,519.91 |
| 8 | $5,463.03 | $19,443.14 | $285,056.88 |
| 9 | $5,843.41 | $19,062.76 | $279,213.47 |
| 10 | $6,250.28 | $18,655.89 | $272,963.20 |
| 11 | $6,685.47 | $18,220.70 | $266,277.73 |
| 12 | $7,150.96 | $17,755.20 | $259,126.76 |
| 13 | $7,648.87 | $17,257.30 | $251,477.89 |
| 14 | $8,181.45 | $16,724.72 | $243,296.44 |
| 15 | $8,751.10 | $16,155.06 | $234,545.34 |
| 16 | $9,360.43 | $15,545.74 | $225,184.91 |
| 17 | $10,012.17 | $14,893.99 | $215,172.74 |
| 18 | $10,709.30 | $14,196.87 | $204,463.44 |
| 19 | $11,454.97 | $13,451.20 | $193,008.48 |
| 20 | $12,252.55 | $12,653.62 | $180,755.93 |
| 21 | $13,105.67 | $11,800.50 | $167,650.25 |
| 22 | $14,018.19 | $10,887.97 | $153,632.06 |
| 23 | $14,994.25 | $9,911.92 | $138,637.81 |
| 24 | $16,038.27 | $8,867.90 | $122,599.54 |
| 25 | $17,154.98 | $7,751.19 | $105,444.56 |
| 26 | $18,349.45 | $6,556.72 | $87,095.12 |
| 27 | $19,627.08 | $5,279.09 | $67,468.04 |
| 28 | $20,993.67 | $3,912.49 | $46,474.36 |
| 29 | $22,455.42 | $2,450.75 | $24,018.94 |
| 30 | $24,018.94 | $887.22 | $0.00 |
How the mortgage calculator works
We compute a fully amortizing monthly payment using the standard mortgage formula: monthly payment = P × r / (1 − (1 + r)^−n), where P is the loan amount, r is the monthly interest rate, and n is the loan term in months. Extra payments are applied straight to principal, so the schedule ends earlier than the stated term.
Rule of thumb: 28/36
Lenders often want your monthly housing payment under 28% of gross monthly income, and total debt payments under 36%. Use the monthly total field above to sanity-check where you land.
Frequently asked questions
What does a mortgage calculator include?
Principal, interest, property taxes, and homeowners insurance (PITI). Add HOA dues to the monthly total for a complete cost picture.
How does an extra monthly payment help?
Every extra dollar reduces principal immediately, cutting the interest charged in every future month and shortening the payoff date.
Is the interest rate an APR?
This calculator uses the note rate (interest rate), not APR. APR bakes in fees and will be slightly higher than your note rate on your Loan Estimate.