Calculate your monthly mortgage payment and amortization schedule
$60,000
| Monthly | Total | |
|---|---|---|
| Mortgage Payment | $1,480.06 | $532,823 |
| Property Tax | $300.00 | $108,000 |
| Home Insurance | $125.00 | $45,000 |
| Other Costs | $333.33 | $120,000 |
| Total Out-of-Pocket | $2,238.40 | $805,823 |
| Year | Date | Interest | Principal | Ending Balance |
|---|---|---|---|---|
| 1 | Oct/2025-Sep/2026 | $14,956 | $2,804 | $237,196 |
| 2 | Oct/2026-Sep/2027 | $14,776 | $2,985 | $234,210 |
| 3 | Oct/2027-Sep/2028 | $14,583 | $3,178 | $231,033 |
| 4 | Oct/2028-Sep/2029 | $14,378 | $3,383 | $227,650 |
| 5 | Oct/2029-Sep/2030 | $14,160 | $3,601 | $224,049 |
| 6 | Oct/2030-Sep/2031 | $13,928 | $3,833 | $220,217 |
| 7 | Oct/2031-Sep/2032 | $13,681 | $4,080 | $216,136 |
| 8 | Oct/2032-Sep/2033 | $13,418 | $4,343 | $211,793 |
| 9 | Oct/2033-Sep/2034 | $13,138 | $4,623 | $207,170 |
| 10 | Oct/2034-Sep/2035 | $12,839 | $4,921 | $202,249 |
| 11 | Oct/2035-Sep/2036 | $12,522 | $5,239 | $197,010 |
| 12 | Oct/2036-Sep/2037 | $12,184 | $5,576 | $191,434 |
| 13 | Oct/2037-Sep/2038 | $11,825 | $5,936 | $185,498 |
| 14 | Oct/2038-Sep/2039 | $11,442 | $6,319 | $179,179 |
| 15 | Oct/2039-Sep/2040 | $11,035 | $6,726 | $172,453 |
| 16 | Oct/2040-Sep/2041 | $10,601 | $7,160 | $165,293 |
| 17 | Oct/2041-Sep/2042 | $10,139 | $7,622 | $157,672 |
| 18 | Oct/2042-Sep/2043 | $9,648 | $8,113 | $149,559 |
| 19 | Oct/2043-Sep/2044 | $9,125 | $8,636 | $140,923 |
| 20 | Oct/2044-Sep/2045 | $8,568 | $9,193 | $131,730 |
| 21 | Oct/2045-Sep/2046 | $7,975 | $9,786 | $121,944 |
| 22 | Oct/2046-Sep/2047 | $7,344 | $10,417 | $111,527 |
| 23 | Oct/2047-Sep/2048 | $6,672 | $11,088 | $100,439 |
| 24 | Oct/2048-Sep/2049 | $5,957 | $11,803 | $88,636 |
| 25 | Oct/2049-Sep/2050 | $5,196 | $12,564 | $76,071 |
| 26 | Oct/2050-Sep/2051 | $4,386 | $13,375 | $62,697 |
| 27 | Oct/2051-Sep/2052 | $3,524 | $14,237 | $48,460 |
| 28 | Oct/2052-Sep/2053 | $2,606 | $15,155 | $33,305 |
| 29 | Oct/2053-Sep/2054 | $1,629 | $16,132 | $17,172 |
| 30 | Oct/2054-Sep/2055 | $588 | $17,172 | $0 |
This mortgage calculator estimates your monthly home loan payment based on purchase price, down payment, interest rate, property tax, insurance, and loan term. It breaks each payment into principal and interest so you can see how quickly your loan balance declines and how much interest you'll pay over the life of the mortgage.
The tool also helps you visualize how different loan structures affect total cost. For example, you can compare a 30-year mortgage to a 15-year one, or test how making a larger down payment changes your monthly payment and total interest.
Your estimated monthly payment should be viewed in the context of your broader budget: existing debts, emergency savings, and other monthly obligations. Many lenders look at your debt-to-income ratio, so you may want to keep total housing costs within a conservative percentage of your gross income.
Small changes in interest rate or down payment can have a large impact on total interest paid. Use this tool to experiment with scenarios—such as buying slightly below your maximum budget or waiting to save a larger down payment—to see what feels sustainable for you.
This calculator uses simplified assumptions and does not replace a formal loan estimate from a lender. Real mortgages may include private mortgage insurance (PMI), closing costs, rate adjustments, and other fees that are not modeled here.
After you've narrowed down a comfortable payment range with this tool, talk to a lender or financial advisor to get personalized rate quotes and understand all of the costs involved in purchasing a home.