Planning tool
Mortgage calculator
Break down home loan payments and see a full amortisation schedule.
The mortgage calculator works out the monthly payment on a home loan, what it costs in interest over its life, and how extra payments shorten it. Whether to buy at all is what Rent vs. buy compares.
Nothing you enter here is stored.
Your loan
Loan of $240,000.00 · 80% loan-to-value.
Extra principal paid each month to clear the loan sooner.
US DollarTaxes, insurance & fees
Annual, as a share of the home price — about $275.00/mo.
Annual premium.
US DollarMonthly association fee, if any.
US DollarEnter 0 if your mortgage doesn't include this cost.
Monthly payment
$1,814.00
$1,439.00 principal & interest, plus taxes and fees.
Total interest
$278,012.00
Total cost
$518,012.00
Principal plus interest over the loan.
Paid off in
30 yr
Time to clear the loan.
Monthly payment breakdown
- Principal & interest
- $1,439.00
- Property tax
- $275.00
- Home insurance
- $100.00
Over time
- Remaining balance
Amortisation schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 yr | $2,947.00 | $14,320.00 | $237,053.00 |
| 2 yr | $3,129.00 | $14,138.00 | $233,924.00 |
| 3 yr | $3,322.00 | $13,945.00 | $230,602.00 |
| 4 yr | $3,527.00 | $13,740.00 | $227,075.00 |
| 5 yr | $3,744.00 | $13,523.00 | $223,330.00 |
| 6 yr | $3,975.00 | $13,292.00 | $219,355.00 |
| 7 yr | $4,221.00 | $13,046.00 | $215,135.00 |
| 8 yr | $4,481.00 | $12,786.00 | $210,654.00 |
| 9 yr | $4,757.00 | $12,510.00 | $205,896.00 |
| 10 yr | $5,051.00 | $12,216.00 | $200,846.00 |
| 11 yr | $5,362.00 | $11,905.00 | $195,484.00 |
| 12 yr | $5,693.00 | $11,574.00 | $189,791.00 |
| 13 yr | $6,044.00 | $11,223.00 | $183,747.00 |
| 14 yr | $6,417.00 | $10,850.00 | $177,330.00 |
| 15 yr | $6,813.00 | $10,454.00 | $170,517.00 |
| 16 yr | $7,233.00 | $10,034.00 | $163,284.00 |
| 17 yr | $7,679.00 | $9,588.00 | $155,606.00 |
| 18 yr | $8,152.00 | $9,115.00 | $147,453.00 |
| 19 yr | $8,655.00 | $8,612.00 | $138,798.00 |
| 20 yr | $9,189.00 | $8,078.00 | $129,609.00 |
| 21 yr | $9,756.00 | $7,511.00 | $119,853.00 |
| 22 yr | $10,358.00 | $6,909.00 | $109,495.00 |
| 23 yr | $10,996.00 | $6,271.00 | $98,499.00 |
| 24 yr | $11,675.00 | $5,592.00 | $86,824.00 |
| 25 yr | $12,395.00 | $4,872.00 | $74,429.00 |
| 26 yr | $13,159.00 | $4,108.00 | $61,270.00 |
| 27 yr | $13,971.00 | $3,296.00 | $47,299.00 |
| 28 yr | $14,833.00 | $2,434.00 | $32,466.00 |
| 29 yr | $15,747.00 | $1,520.00 | $16,719.00 |
| 30 yr | $16,719.00 | $548.00 | $0.00 |
This is a planning estimate. Property tax, insurance, and PMI are based on the figures you enter and may differ from your actual costs; it excludes closing and origination fees.
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