Home Mortgage Calculator

Your details

The purchase price of the home.
The amount you pay upfront. The rest is financed.
The number of years to repay the loan. A shorter term means higher payments but far less interest.
Your annual mortgage interest rate (APR). Check with your lender for a personalised quote.
%
Annual property taxes. Typically 0.5 to 2.5% of home value per year depending on location.
Annual homeowners insurance premium. The national average is about $1,200/year.
Private Mortgage Insurance. Typically required when your down payment is less than 20% of the home price. Often 0.5 to 1.5% of the loan amount per year. Enter 0 if not applicable.
Monthly Homeowners Association fee, if applicable.
Any additional amount paid toward principal each month. Even a small extra payment can dramatically reduce total interest and shorten your loan.
Currency
Principal & InterestNo PMI required (20%+ down)
$2,075.51

Your core monthly mortgage payment (principal + interest)

Total Monthly Payment$2,575.51
Loan Amount$320,000.00
Total Interest Paid$427,185.01
Total Cost of Loan$747,185.01
Payoff Time30 years
Interest Saved (Extra Payments)$0.00
Down Payment20%
Monthly Property Tax$400.00
Monthly Insurance$100.00
Monthly PMI$0.00
Monthly HOA$0.00
Loan Principal$320,000.00
Total Interest$427,185.01

Monthly payment: $2,075.51 principal and interest.

  • You are financing $320,000.00 (80% of the home price).
  • Over the life of the loan you will pay $427,185.01 in interest, roughly 133% of the original loan amount.

Next stepA common guideline says housing costs should not exceed 28% of gross monthly income - your all-in payment of $2,575.51/month implies a recommended gross income of at least $110,379.17/year.

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