Mortgage Calculator
Calculate your monthly home mortgage payment with down payment, property tax, and home insurance estimates.
Calculation Inputs & Parameters
350000
(Default)
70000
(Default)
6.5
(Default)
30
(Default)
4200
(Default)
1200
(Default)
Total Monthly Payment (PITI)
$2,220
Principal & Interest
$1,770
Loan Principal
$280,000
Total Interest over Term
$357,125
Property Tax & Ins. / mo
$450
How the Calculation Works
Calculates principal & interest plus monthly escrow for property tax and insurance.
Formula: P&I = P [ r(1 + r)^n ] / [ (1 + r)^n – 1 ]
Practical Worked Example
Given Inputs: 350k Home | 70k Down | 6.5% | 30 Yrs
Calculated Output: Principal & Interest: ~1,770 / mo
- Calculate loan principal 280,000, apply monthly amortization factor.