Home Loan Calculator
Estimate the full monthly cost of a home loan, including taxes and insurance.
A home loan payment has four parts: principal, interest, property tax, and insurance, often shortened to PITI. On a $360,000 home with 20% down at 6.5% over 30 years, principal and interest are about $1,820, and taxes plus insurance push the full payment higher. Enter the price, down payment, rate, and term to see your complete monthly cost.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Estimated monthly payment
$2,420.36
Principal vs. interest paid per year
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,219 | $18,625 | $284,781 |
| 2 | $3,435 | $18,410 | $281,346 |
| 3 | $3,665 | $18,180 | $277,682 |
| 4 | $3,910 | $17,934 | $273,772 |
| 5 | $4,172 | $17,672 | $269,600 |
| 6 | $4,451 | $17,393 | $265,148 |
| 7 | $4,749 | $17,095 | $260,399 |
| 8 | $5,068 | $16,777 | $255,331 |
| 9 | $5,407 | $16,437 | $249,924 |
| 10 | $5,769 | $16,075 | $244,155 |
| 11 | $6,155 | $15,689 | $238,000 |
| 12 | $6,568 | $15,277 | $231,432 |
| 13 | $7,007 | $14,837 | $224,425 |
| 14 | $7,477 | $14,367 | $216,948 |
| 15 | $7,978 | $13,867 | $208,970 |
| 16 | $8,512 | $13,332 | $200,459 |
| 17 | $9,082 | $12,762 | $191,377 |
| 18 | $9,690 | $12,154 | $181,687 |
| 19 | $10,339 | $11,505 | $171,348 |
| 20 | $11,031 | $10,813 | $160,316 |
| 21 | $11,770 | $10,074 | $148,546 |
| 22 | $12,559 | $9,286 | $135,987 |
| 23 | $13,400 | $8,445 | $122,588 |
| 24 | $14,297 | $7,547 | $108,291 |
| 25 | $15,255 | $6,590 | $93,036 |
| 26 | $16,276 | $5,568 | $76,760 |
| 27 | $17,366 | $4,478 | $59,394 |
| 28 | $18,529 | $3,315 | $40,864 |
| 29 | $19,770 | $2,074 | $21,094 |
| 30 | $21,094 | $750 | $0 |
About the Home Loan Calculator
A home loan is the largest installment loan most people take on, and the payment is more than principal and interest. This calculator adds property tax and homeowners insurance, the two costs lenders collect alongside the loan and hold in escrow, so the figure you see is closer to your real monthly obligation. Enter the purchase price and your down payment, and the tool finances the difference, then applies your rate and term. The down payment does double duty: a larger one shrinks the amount you borrow and, once it crosses 20%, lets you avoid private mortgage insurance on a conventional loan. Home loans come in several forms, including conventional, FHA, and VA, which differ on down payment and credit requirements but all amortize the same way once the rate is set. Use the schedule to see how slowly principal builds in the early years, and try a 15-year term against a 30-year one to weigh a higher payment against a large cut in lifetime interest.
Frequently asked questions
What does PITI mean?+
PITI stands for principal, interest, taxes, and insurance, the four parts of a typical mortgage payment. Lenders often collect the tax and insurance portions in an escrow account and pay those bills on your behalf when they come due.
How much should I put down on a home loan?+
Putting 20% down on a conventional loan avoids private mortgage insurance and lowers the amount you finance. Many buyers put down less, and FHA loans allow as little as 3.5%, but a smaller down payment means a larger loan and usually mortgage insurance.
What is the difference between a 15-year and 30-year home loan?+
A 15-year loan has a higher monthly payment but a much lower total interest cost and faster payoff. A 30-year loan keeps the payment low but costs far more interest over time. Try both terms above to compare them on your numbers.
Is private mortgage insurance included here?+
No. This estimate covers principal, interest, property tax, and homeowners insurance. If your down payment is under 20% on a conventional loan, add private mortgage insurance separately, since lenders charge it until you reach 20% equity.