Mortgage WellMortgage Payment Calculator
Estimate your full monthly payment — principal, interest, taxes, insurance, PMI, and HOA — and see how each piece adds up.
Mortgage Payment Estimate
Generated · Assumption set 2026-04-30
Estimated total monthly payment
$2,555.96/mo
Tax, insurance, and PMI values are estimates based on the assumptions you entered.
Monthly Payment Breakdown
- Principal & Interest$2,022.62
- Property Tax$416.67
- Homeowners Insurance$116.67
- Total$2,555.96
Balance over time
Show data table
| Year | Balance |
|---|---|
| 1 | $316,423.24 |
| 2 | $312,606.96 |
| 3 | $308,535.08 |
| 4 | $304,190.51 |
| 5 | $299,554.97 |
| 6 | $294,608.97 |
| 7 | $289,331.75 |
| 8 | $283,701.10 |
| 9 | $277,693.35 |
| 10 | $271,283.24 |
| 11 | $264,443.83 |
| 12 | $257,146.37 |
| 13 | $249,360.20 |
| 14 | $241,052.58 |
| 15 | $232,188.56 |
| 16 | $222,730.93 |
| 17 | $212,639.88 |
| 18 | $201,873.02 |
| 19 | $190,385.09 |
| 20 | $178,127.79 |
| 21 | $165,049.59 |
| 22 | $151,095.53 |
| 23 | $136,206.92 |
| 24 | $120,321.21 |
| 25 | $103,371.61 |
| 26 | $85,286.85 |
| 27 | $65,990.93 |
| 28 | $45,402.71 |
| 29 | $23,435.67 |
| 30 | $0.00 |
Amortization schedule
| Year | Principal | Interest | Extra | Balance | Toggle |
|---|---|---|---|---|---|
| Year 1 | $3,576.76 | $20,694.68 | $0.00 | $316,423.24 | |
| Year 2 | $3,816.28 | $20,455.16 | $0.00 | $312,606.96 | |
| Year 3 | $4,071.88 | $20,199.56 | $0.00 | $308,535.08 | |
| Year 4 | $4,344.57 | $19,926.87 | $0.00 | $304,190.51 | |
| Year 5 | $4,635.54 | $19,635.90 | $0.00 | $299,554.97 | |
| Year 6 | $4,946.00 | $19,325.44 | $0.00 | $294,608.97 | |
| Year 7 | $5,277.22 | $18,994.22 | $0.00 | $289,331.75 | |
| Year 8 | $5,630.65 | $18,640.79 | $0.00 | $283,701.10 | |
| Year 9 | $6,007.75 | $18,263.69 | $0.00 | $277,693.35 | |
| Year 10 | $6,410.11 | $17,861.33 | $0.00 | $271,283.24 | |
| Year 11 | $6,839.41 | $17,432.03 | $0.00 | $264,443.83 | |
| Year 12 | $7,297.46 | $16,973.98 | $0.00 | $257,146.37 | |
| Year 13 | $7,786.17 | $16,485.27 | $0.00 | $249,360.20 | |
| Year 14 | $8,307.62 | $15,963.82 | $0.00 | $241,052.58 | |
| Year 15 | $8,864.02 | $15,407.42 | $0.00 | $232,188.56 | |
| Year 16 | $9,457.63 | $14,813.81 | $0.00 | $222,730.93 | |
| Year 17 | $10,091.05 | $14,180.39 | $0.00 | $212,639.88 | |
| Year 18 | $10,766.86 | $13,504.58 | $0.00 | $201,873.02 | |
| Year 19 | $11,487.93 | $12,783.51 | $0.00 | $190,385.09 | |
| Year 20 | $12,257.30 | $12,014.14 | $0.00 | $178,127.79 | |
| Year 21 | $13,078.20 | $11,193.24 | $0.00 | $165,049.59 | |
| Year 22 | $13,954.06 | $10,317.38 | $0.00 | $151,095.53 | |
| Year 23 | $14,888.61 | $9,382.83 | $0.00 | $136,206.92 | |
| Year 24 | $15,885.71 | $8,385.73 | $0.00 | $120,321.21 | |
| Year 25 | $16,949.60 | $7,321.84 | $0.00 | $103,371.61 | |
| Year 26 | $18,084.76 | $6,186.68 | $0.00 | $85,286.85 | |
| Year 27 | $19,295.92 | $4,975.52 | $0.00 | $65,990.93 | |
| Year 28 | $20,588.22 | $3,683.22 | $0.00 | $45,402.71 | |
| Year 29 | $21,967.04 | $2,304.40 | $0.00 | $23,435.67 | |
| Year 30 | $23,435.67 | $833.21 | $0.00 | $0.00 |
Assumptions used
Assumption set 2026-04-30
- Home price
- $400,000user input
- Down payment
- $80,000 (20.00%)user input
- Loan amount
- $320,000calculated
- Annual interest rate
- 6.50%user input
- Loan term
- 30 yearsuser input
- Annual property tax
- $5,000user input
- Annual homeowners insurance
- $1,400user input
- Monthly HOA
- $0user input
- Property tax rate
- 1.25%config
- Homeowners insurance rate
- 0.35%config
How this calculator works
Your full monthly payment (PITI) usually includes principal & interest on the loan, property taxes, homeowners insurance, mortgage insurance when your loan-to-value is over 80%, and any HOA dues. We compute principal & interest using the standard fully-amortizing formula and divide annual taxes and insurance into monthly amounts.
Reviewed for calculation accuracy and clarity by Mortgage Well calculation team ·
When to use this
- You want a realistic monthly housing-cost number, not just principal & interest.
- You're comparing two homes at different price points and need to see all the recurring costs.
- You're sanity-checking what a lender quoted you against an independent estimate.
Methodology
Principal & interest is the standard fully-amortizing fixed-rate formula. Taxes and insurance are entered annually and divided by 12. PMI is applied automatically when loan-to-value is above 80% using the rate you set in the advanced drawer.
M = P * r * (1 + r)^n / ((1 + r)^n - 1) P = loan amount in cents r = annual interest rate ÷ 12 n = term in months For r = 0: M = P / n
Assumptions
- Fixed-rate, fully-amortizing loan.
- Property tax and insurance are constant in nominal dollars (no inflation).
- PMI is applied at the rate you provide whenever LTV is over 80%; cancellation rules vary by servicer.
- Escrow may move payments slightly — your servicer's exact figures will differ.
Example
A $400,000 home with 20% down at 6.5% over 30 years yields a principal & interest payment near $2,022/month. Add about $417/month for property taxes at 1.25% and $117/month for homeowners insurance at 0.35%, and your total PITI is roughly $2,556/month.
Frequently asked
- Is this the same as a Loan Estimate?
- No. A lender's Loan Estimate is a federally regulated disclosure based on your credit, income, and a specific property. Our calculator is an educational estimate only.
- When does PMI go away?
- Conventional PMI usually auto-terminates around 78% LTV based on the original value and may be cancelled by request at 80%. Servicer rules and payment history apply.
- Why does my real payment differ?
- Lenders include lender-specific fees, escrow rules, and exact tax/insurance figures we cannot estimate without your property and lender details.
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Estimates only. This calculator is not a loan offer, loan approval, official Loan Estimate, Closing Disclosure, tax advice, legal advice, or financial advice. Actual payments, rates, taxes, insurance, mortgage insurance, closing costs, and loan terms may vary. Contact a qualified lender, tax professional, or financial advisor for guidance.