Mortgage calculator: your real monthly payment
Most calculators stop at principal and interest. This one adds property tax, homeowners insurance, HOA and PMI — and it updates the rate every day on its own.
Monthly breakdown
Total interest $485,495 · total PMI $0 · paid off in 30 years
Compare loan terms
| Term | Monthly (P&I) | Total monthly | Total interest |
|---|---|---|---|
| 10 years | $3,798 | $4,348 | $135,815 |
| 15 years | $2,966 | $3,516 | $213,959 |
| 20 years | $2,578 | $3,128 | $298,696 |
| 30 years | $2,237 | $2,787 | $485,495 |
Amortization schedule
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $23,900 | $2,950 | $317,050 |
| 2 | $23,671 | $3,179 | $313,871 |
| 3 | $23,424 | $3,426 | $310,446 |
| 4 | $23,158 | $3,692 | $306,754 |
| 5 | $22,872 | $3,978 | $302,776 |
| 6 | $22,563 | $4,287 | $298,489 |
| 7 | $22,230 | $4,620 | $293,869 |
| 8 | $21,871 | $4,978 | $288,890 |
| 9 | $21,485 | $5,365 | $283,525 |
| 10 | $21,068 | $5,781 | $277,744 |
| 11 | $20,620 | $6,230 | $271,514 |
| 12 | $20,136 | $6,714 | $264,800 |
| 13 | $19,615 | $7,235 | $257,564 |
| 14 | $19,053 | $7,797 | $249,768 |
| 15 | $18,448 | $8,402 | $241,365 |
| 16 | $17,795 | $9,054 | $232,311 |
| 17 | $17,092 | $9,757 | $222,553 |
| 18 | $16,335 | $10,515 | $212,039 |
| 19 | $15,519 | $11,331 | $200,707 |
| 20 | $14,639 | $12,211 | $188,496 |
| 21 | $13,691 | $13,159 | $175,338 |
| 22 | $12,669 | $14,180 | $161,157 |
| 23 | $11,569 | $15,281 | $145,876 |
| 24 | $10,382 | $16,468 | $129,408 |
| 25 | $9,104 | $17,746 | $111,662 |
| 26 | $7,726 | $19,124 | $92,539 |
| 27 | $6,242 | $20,608 | $71,931 |
| 28 | $4,642 | $22,208 | $49,722 |
| 29 | $2,918 | $23,932 | $25,790 |
| 30 | $1,060 | $25,790 | $0 |
Showing 360 payments. Schedule assumes a fixed rate and constant home value for PMI cancellation.
Source: Freddie Mac Primary Mortgage Market Survey (weekly). Updated automatically every day. See the full rate page →
Popular loan amounts
$300k @ 7.5% · 30y $350k @ 7.5% · 30y $400k @ 7.5% · 30y $450k @ 7.5% · 30y $500k @ 7.5% · 30y $600k @ 7.5% · 30y $250k @ 7.5% · 30y $750k @ 7.5% · 30yWhy the payment is bigger than P&I
A lender quotes principal and interest, but the money that actually leaves your account every month is PITI: principal, interest, taxes and insurance. On a $400,000 home with 20% down at 7.5%, property tax at the U.S. average effective rate of 1.1% and insurance of $2,200 a year, taxes and insurance alone add roughly $550 per month. Skip them and you will under-budget by hundreds of dollars.
FAQ
How is the monthly mortgage payment calculated?
The principal and interest portion uses the standard amortization formula M = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of payments. MortgagePilot then adds property tax, homeowners insurance, HOA and PMI (when the down payment is under 20%) to show the real monthly cost.
How often are the mortgage rates updated?
Rates shown on this page come from the Freddie Mac Primary Mortgage Market Survey and are refreshed automatically every day. Last update: October 8, 2026.
Is this a loan offer?
No. MortgagePilot is an independent calculator. We are not a lender and do not collect or sell your personal data. All outputs are estimates for planning purposes only.