Estimate your monthly payment, see how much goes to interest vs. principal, and view your full amortization schedule.
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|
Adjust the home price, down payment, loan term, and interest rate. You can drag the sliders or type exact numbers directly into the boxes to see how each factor changes your monthly payment. This calculator uses the standard amortization formula lenders use to calculate fixed-rate mortgages, and includes property tax, homeowners insurance, and HOA dues so you can see your full estimated housing cost, not just principal and interest.
Your principal and interest payment is calculated using the loan amount, interest rate, and number of payments. Early in the loan, most of each payment goes toward interest; later in the loan, more goes toward principal. This shift is why the breakdown above changes as the loan term progresses, so check the amortization schedule to see the split year by year. This same amortization math is a recurring topic on real estate licensing exams and shows up in the finance sections of the CFP exam and Series 65.
This tool estimates PITI: principal, interest, taxes, and insurance, plus HOA dues if applicable. It does not include private mortgage insurance (PMI), which typically applies if your down payment is under 20%, or one-time closing costs. Actual loan terms and rates vary by lender, credit profile, and location. If you're comparing the cost of owning against renting, try our Rent vs. Buy Calculator. If you're deciding between a bigger down payment and investing the difference, try our Down Payment vs. Investment Calculator.
If you're studying for a real estate license, mortgage calculations like amortization, loan-to-value ratio, and PITI show up regularly in the finance section of both the national and state-specific portions of the exam. Our General Real Estate practice exam covers this national finance content directly, and we have dedicated state exams for California, New York, New Jersey, and Pennsylvania. If you're on the securities or advisory side, mortgage and debt concepts also appear on the SIE, Series 7, and CFA Level 1 exams.
Conventional loans often allow as little as 3-5% down, though putting down less than 20% usually triggers PMI. FHA loans allow as little as 3.5% down. A larger down payment lowers your monthly payment and total interest paid over the life of the loan. Loan-to-value ratio and down payment rules are also common exam topics. See our real estate finance questions for practice.
Rates vary based on market conditions, credit score, loan type, and term length. Shorter-term loans (15-year vs. 30-year) typically carry lower rates but higher monthly payments. Compare offers from multiple lenders to find the best rate for your situation.
Not currently. This tool focuses on principal, interest, taxes, insurance, and HOA. If your down payment is below 20%, budget an additional 0.5-1.5% of your loan amount annually for PMI until you reach 20% equity.
Yes. Every slider on this page has a matching input box next to it. Click into any of the gold number fields and type your exact figure; the slider and the results update together.
Mortgage math like this shows up directly on real estate licensing and CFP exams. Practice the concepts for free.
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