Online mortgage payment calculator
This online mortgage payment calculator is free, instant and private: it runs in your browser, so you can test any scenario without giving your details to a lender.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,671.69 | $21,244.39 | $324,828.31 |
| 2 | $3,917.58 | $20,998.50 | $320,910.73 |
| 3 | $4,179.95 | $20,736.13 | $316,730.78 |
| 4 | $4,459.90 | $20,456.18 | $312,270.88 |
| 5 | $4,758.59 | $20,157.49 | $307,512.29 |
| 6 | $5,077.27 | $19,838.81 | $302,435.02 |
| 7 | $5,417.31 | $19,498.77 | $297,017.71 |
| 8 | $5,780.10 | $19,135.98 | $291,237.61 |
| 9 | $6,167.21 | $18,748.87 | $285,070.40 |
| 10 | $6,580.23 | $18,335.85 | $278,490.17 |
| 11 | $7,020.95 | $17,895.13 | $271,469.22 |
| 12 | $7,491.14 | $17,424.94 | $263,978.08 |
| 13 | $7,992.85 | $16,923.23 | $255,985.23 |
| 14 | $8,528.15 | $16,387.93 | $247,457.08 |
| 15 | $9,099.27 | $15,816.81 | $238,357.81 |
| 16 | $9,708.67 | $15,207.41 | $228,649.14 |
| 17 | $10,358.86 | $14,557.22 | $218,290.28 |
| 18 | $11,052.62 | $13,863.46 | $207,237.66 |
| 19 | $11,792.85 | $13,123.23 | $195,444.81 |
| 20 | $12,582.65 | $12,333.43 | $182,862.16 |
| 21 | $13,425.33 | $11,490.75 | $169,436.83 |
| 22 | $14,324.44 | $10,591.64 | $155,112.39 |
| 23 | $15,283.77 | $9,632.31 | $139,828.62 |
| 24 | $16,307.32 | $8,608.76 | $123,521.30 |
| 25 | $17,399.50 | $7,516.58 | $106,121.80 |
| 26 | $18,564.77 | $6,351.31 | $87,557.03 |
| 27 | $19,808.09 | $5,107.99 | $67,748.94 |
| 28 | $21,134.67 | $3,781.41 | $46,614.27 |
| 29 | $22,550.09 | $2,365.99 | $24,064.18 |
| 30 | $24,064.18 | $855.77 | $0.00 |
Why privacy matters for mortgage tools
Many mortgage calculators exist to collect leads and pass your details to lenders. This one does not: nothing you type leaves your device, there is no sign-up, and you can share a result with a link that contains only the numbers. That lets you explore several scenarios before deciding to talk to a lender.
Reading the payment breakdown
The bar and list show each part of the payment: principal and interest, property tax, insurance, HOA and PMI. If the total is above your comfort level, change one input at a time, such as the price, down payment, rate or term, to see which helps the most.
$328,500 loan: 15-year vs 30-year
On a $328,500 mortgage, a 30-year loan at 6.5% costs $2,076.34 a month in principal and interest and $418,986 in total interest. A 15-year loan at a rate about 0.6 points lower costs $2,754.35 a month, $678.01 more, but cuts the interest to $167,284, saving $251,702. The right choice depends on whether the higher payment fits your budget with room to spare.
| Loan | Principal & interest | Total interest | Total paid |
|---|---|---|---|
| 10-year at 5.9% | $3,630.55 | $107,166 | $435,666 |
| 15-year at 5.9% | $2,754.35 | $167,284 | $495,784 |
| 20-year at 5.9% | $2,334.56 | $231,796 | $560,296 |
| 30-year at 6.5% | $2,076.34 | $418,986 | $747,486 |
What each 6.5% ± 1 point does to the payment
A one-point change in your mortgage rate moves the payment on $328,500 by roughly $220.58 a month and the lifetime interest by about $79,404 over 30 years. That is why it pays to compare several lenders on the same day.
| Rate | Principal & interest | Total interest | Difference vs 6.5% |
|---|---|---|---|
| 5.5% | $1,865.19 | $342,966 | −$76,021 |
| 6% | $1,969.52 | $380,530 | −$38,456 |
| 6.5% | $2,076.34 | $418,986 | +$0 |
| 7% | $2,185.52 | $458,286 | +$39,300 |
| 7.5% | $2,296.92 | $498,391 | +$79,404 |
Down payment and PMI on a $365,000 home
With less than 20% down, lenders charge private mortgage insurance (PMI), commonly 0.3% to 1.5% of the loan per year. This page assumes 0.6%. PMI usually ends when you reach 80% of the home's original value, which you can reach sooner with extra payments.
| Down payment | Loan amount | PMI / month | Total monthly payment |
|---|---|---|---|
| 5% ($18,250) | $346,750 | $173.38 | $2,824.66 |
| 10% ($36,500) | $328,500 | $164.25 | $2,700.17 |
| 20% ($73,000) | $292,000 | $0.00 | $2,305.22 |
What income does a $365,000 home need?
Lenders often look at a front-end ratio of about 28% of gross income for housing costs. A total payment of $2,700.17 implies a gross income near $116,000 a year, and lenders also weigh your other debts, which usually must keep total payments under about 36% to 43% of income.
In the first year, $21,244 of your payments goes to interest and only $3,672 to principal, so equity builds slowly at first.
How fast you build equity
Equity here is the home price minus the loan balance, assuming the price stays flat. Appreciation, if any, would add to it.
| After | Loan balance | Principal repaid | Equity (flat value) |
|---|---|---|---|
| 5 years | $307,512 | $20,988 | $57,488 |
| 10 years | $278,490 | $50,010 | $86,510 |
| 15 years | $238,358 | $90,142 | $126,642 |
| 20 years | $182,862 | $145,638 | $182,138 |
Frequently asked questions
Is this mortgage calculator free?
Yes. There is no sign-up, no email request and no lead form.
Are the results exact?
They are estimates from standard formulas. Your lender’s quote can differ because of fees, rounding and escrow.
What is the monthly payment on a $328,500 mortgage?
At 6.5% over 30 years, principal and interest on $328,500 is $2,076.34. With the estimated tax, insurance, HOA and PMI above, the total comes to about $2,700.17 a month.
What is included in a monthly mortgage payment?
Principal and interest are the loan itself. Many lenders also collect property tax and homeowners insurance in escrow, and charge PMI if your down payment is under 20%. HOA dues are paid separately.
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Estimates from standard loan formulas, not a loan offer or financial advice. Example rates are assumptions: use your own quote.