Home Loan Calculator

Your details

The purchase price of the property.
Percentage of the home price paid upfront. 20% or more avoids PMI on conventional loans.
%
The number of years over which you will repay the loan.
The fixed annual interest rate quoted by your lender. Enter the rate, not the APR.
%
Annual property tax as a percentage of the home value. The US average is around 1.1%.
% of value
Annual homeowner's insurance as a percentage of the home value. Typical range is 0.25% to 1%.
% of value
Private Mortgage Insurance rate, charged when the down payment is below 20%. Typically 0.2% to 2% of the loan amount per year. Set to 0 to exclude.
% of loan/yr
Monthly Homeowners Association fee, if applicable. Set to 0 to exclude.
An additional amount you pay each month toward principal. This can significantly reduce the total interest and payoff time.
Currency
Monthly P&I paymentModerate overhead costs
$2,086.16

Principal and interest only, before taxes and insurance

Total monthly payment (PITI)$2,619.49
Loan amount$320,000.00
Down payment$80,000.00
Total interest paid$431,017.82
Total cost of loan$751,017.82
Payoff time30 yr
Interest saved (extra payments)$0.00
Loan amount$320,000.00
Total interest$431,017.82

Your estimated monthly P&I payment is $2,086.

  • You will pay 135% of the original loan amount in interest over the life of the loan.
  • Lenders typically require your total housing payment (PITI) to stay below 28% of your gross monthly income.

Next stepCompare at least three lenders: a 0.25% rate difference on a 30-year loan can save tens of thousands of dollars.

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