US Mortgage Calculator

Total Monthly Payment

$2,784

Loan Amount$360,000

Down Payment$90,000

Cash to Close$105,217

Payoff Time30y 0m

P + I81.7%

$2,275

Tax13.5%

$375

Insurance4.8%

$133

Live National Averages

Averages via St. Louis Fed (FRED).

30Y Fixed—

15Y Fixed—

FHA 30Y—

VA 30Y—

Estimates only. Actual rates vary by lender.

Amortization Over Time

Principal Interest Balance

Interest Summary

Total Interest$459,160

Total Principal$360,000

Total Paid$819,160

Cash to Close

Down Payment$90,000

Closing Costs$6,750

Prepaid & Escrow$2,817

Total Cash$105,217

How it works

P & I (Principal and Interest)

This is the core of your payment. Interest is calculated on the remaining balance each month. As the balance decreases, more of your payment goes toward principal.

PMI (Private Mortgage Insurance)

Required when your down payment is less than 20%. This calculator estimates when you reach 22% equity (78% LTV), which is when most lenders automatically cancel PMI.

Escrow (Taxes & Insurance)

Most lenders collect 1/12th of your annual property taxes and homeowners insurance each month to pay them on your behalf.

Amortization

The process of paying off a debt over time through regular installments. A 30-year fixed loan is heavily weighted toward interest in the early years.

Disclaimer: This calculator is for informational purposes only and provides estimates of mortgage payments based on the data you provide. Actual mortgage terms, rates, and costs may vary significantly based on lender requirements, credit scores, property location, and specific insurance or tax rates. This tool is not an offer to lend nor does it constitute financial advice. We recommend consulting with a qualified mortgage professional or financial advisor before making any financial decisions.