Fixed-rate financing
Mortgage Calculator
Estimate principal and interest, entered housing costs, PMI, and the year-by-year structure of a fixed-rate mortgage.
Decision question
What will this loan cost each month and over time?
Amortization schedule
Review how scheduled principal, interest, PMI, and the remaining loan balance change by year. Each table heading includes a definition of its output.
Cumulative principal is all scheduled principal repaid through each year. Cumulative interest is all scheduled interest paid through each year. Remaining balance is mortgage principal outstanding at year end. The table after the chart provides the same values and additional yearly details.
| Year | Principal paid | Interest paid | PMI paid | Ending balance | Cumulative principal | Cumulative interest |
|---|---|---|---|---|---|---|
| 1 | $3,577 | $20,695 | $0 | $316,423 | $3,577 | $20,695 |
| 2 | $3,816 | $20,455 | $0 | $312,607 | $7,393 | $41,150 |
| 3 | $4,072 | $20,200 | $0 | $308,535 | $11,465 | $61,349 |
| 4 | $4,345 | $19,927 | $0 | $304,191 | $15,809 | $81,276 |
| 5 | $4,636 | $19,636 | $0 | $299,555 | $20,445 | $100,912 |
| 6 | $4,946 | $19,325 | $0 | $294,609 | $25,391 | $120,238 |
| 7 | $5,277 | $18,994 | $0 | $289,332 | $30,668 | $139,232 |
| 8 | $5,631 | $18,641 | $0 | $283,701 | $36,299 | $157,873 |
| 9 | $6,008 | $18,264 | $0 | $277,694 | $42,306 | $176,136 |
| 10 | $6,410 | $17,861 | $0 | $271,284 | $48,716 | $193,998 |
| 11 | $6,839 | $17,432 | $0 | $264,444 | $55,556 | $211,430 |
| 12 | $7,297 | $16,974 | $0 | $257,147 | $62,853 | $228,404 |
| 13 | $7,786 | $16,485 | $0 | $249,361 | $70,639 | $244,889 |
| 14 | $8,308 | $15,964 | $0 | $241,053 | $78,947 | $260,853 |
| 15 | $8,864 | $15,407 | $0 | $232,189 | $87,811 | $276,260 |
| 16 | $9,458 | $14,814 | $0 | $222,732 | $97,268 | $291,074 |
| 17 | $10,091 | $14,180 | $0 | $212,641 | $107,359 | $305,255 |
| 18 | $10,767 | $13,505 | $0 | $201,874 | $118,126 | $318,759 |
| 19 | $11,488 | $12,784 | $0 | $190,386 | $129,614 | $331,543 |
| 20 | $12,257 | $12,014 | $0 | $178,129 | $141,871 | $343,557 |
| 21 | $13,078 | $11,193 | $0 | $165,051 | $154,949 | $354,750 |
| 22 | $13,954 | $10,317 | $0 | $151,097 | $168,903 | $365,068 |
| 23 | $14,888 | $9,383 | $0 | $136,208 | $183,792 | $374,451 |
| 24 | $15,886 | $8,386 | $0 | $120,323 | $199,677 | $382,837 |
| 25 | $16,949 | $7,322 | $0 | $103,373 | $216,627 | $390,159 |
| 26 | $18,085 | $6,187 | $0 | $85,289 | $234,711 | $396,345 |
| 27 | $19,296 | $4,976 | $0 | $65,993 | $254,007 | $401,321 |
| 28 | $20,588 | $3,683 | $0 | $45,405 | $274,595 | $405,004 |
| 29 | $21,967 | $2,305 | $0 | $23,438 | $296,562 | $407,309 |
| 30 | $23,438 | $833 | $0 | $0 | $320,000 | $408,142 |
Swipe horizontally to review every amortization column.
This calculator provides estimates for planning and comparison, not financial, tax, investment, or lending advice.
Payment method
Follow the fixed-rate payment from principal to payoff
The loan payment and the broader monthly housing estimate answer different questions, so the calculator keeps their components visible.
Fixed-rate principal and interest
Payment = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
01
Find the loan amount
Subtract the down payment from the home price. The result is the principal used in the fixed-rate payment formula.
02
Split each loan payment
Interest is charged on the opening balance; the rest of the scheduled payment reduces principal. The balance changes each month.
03
Add entered housing costs
Monthly tax, insurance, HOA, and applicable PMI are added to principal and interest for the initial payment estimate.
The schedule assumes the entered fixed rate and regular monthly payments for the full term. It does not model adjustable rates, extra payments, points, lender fees, refinancing, or future changes to taxes, insurance, HOA, and PMI rules.
Continue the analysis
Related deal checks
Questions