🏠 Mortgage Calculator

Calculate your monthly payment, total interest paid, and full amortization schedule — updates instantly as you type.

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Loan Details

Home Price $400,000

Down Payment $80,000 (20%)

Interest Rate 6.5%

Loan Term

Property Tax /yr $4,800

Home Insurance /yr $1,200

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Results

Total Monthly Payment

—

Principal + Interest + Tax + Insurance

Principal & Interest—

Property Tax (monthly)—

Home Insurance (monthly)—

Loan Amount—

Total Interest Paid—

Total Cost of Home—

Equity after 5 years—

Equity after 10 years—

The monthly principal & interest payment uses the standard amortisation formula:

M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
P = loan amount · r = monthly rate · n = total payments

Property tax and insurance are divided by 12 and added. PMI applies when down payment is below 20% but varies by lender and is not included here.