The full monthly cost of a home loan — principal & interest plus property tax, home insurance, HOA dues and PMI where it applies — with extra payments, a bi-weekly option and a full amortization schedule. Everything updates as you type.
Tax, insurance and HOA are estimates you enter — your lender escrows them with the payment. They are not part of the loan schedule below.
| Date | Payment | Extra | Principal | Interest | PMI | Balance |
|---|
Payment is principal & interest at the charged frequency, gathered into calendar months. PMI stops the month the balance reaches 80% of the original home value. Download the CSV for the full month-by-month file.
| Year | Interest | Principal | Balance |
|---|
Each loan year rolled up from the same schedule — the split tips from interest towards principal as the balance falls.
Work out a home loan before you sign: monthly payment, total interest, total cost and payoff date from price, deposit, rate and term, plus a yearly schedule.
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Work out a home loan before you sign: monthly payment, total interest, total cost and payoff date from price, deposit, rate and term, plus a full amortization schedule.
A $300,000 home with 20% down means a $240,000 loan. At 6.5% over 30 years the monthly payment is $1,516.96, the interest over the full term comes to roughly $306,000, and the loan clears in month 360. Raising the down payment or shortening the term cuts the interest sharply — try 20 years in the calculator and watch the total fall.
The monthly payment uses the standard amortization formula: with monthly rate r and n payments, payment = P × r ÷ (1 − (1 + r)^−n); at 0% it falls back to P ÷ n. The schedule then walks month by month, charging interest on the remaining balance and clearing principal with what is left, and a yearly view rolls the same months up into one row per year. Figures are rounded to cents for display, and the balance reaches exactly zero on the final payment. Because the rate is fixed, the payment itself never changes — only its internal split between interest and principal does. Optional extras — an extra amount each month, a one-off lump sum, or bi-weekly half-payments — are applied to principal in the same walk, which pulls the payoff date forward and cuts the total interest; PMI is read off the falling balance each month and stops once the balance reaches 80% of the original home value.
The payment maths is standard amortisation: a fixed monthly payment is derived from the loan amount, the interest rate and the term, and the schedule splits every payment into interest and principal as the balance falls. Rates and house-buying guidance are referenced to the US consumer and housing agencies below; enter figures in your own currency — the conventions for property tax, insurance and fees differ by country and are yours to enter as billed.
Sources: CFPB — Buying a house · Freddie Mac — Primary Mortgage Market Survey · HUD — Buying a Home.
Figures and rules checked against official sources — last verified 1 November 2026.
The headline figure is the all-in monthly cost: principal and interest on the loan, plus whatever you enter for property tax, home insurance and HOA dues, plus PMI while it applies. The “Principal & interest” figure is the loan payment on its own — the part that follows the amortization schedule. Leave the optional costs at zero to see the loan payment by itself.
Every extra dollar down is a dollar not borrowed, so it cuts both the monthly payment and the total interest. Going from 10% to 20% down on the example above removes $30,000 of borrowing and roughly $38,000 of interest over the 30 years, and it can remove mortgage insurance from the monthly bill entirely.
Interest is charged on the outstanding balance, which is largest at the start. Early payments are mostly interest; as the balance falls, the same payment clears more and more principal. The schedule shows that split tipping over the years.
It usually carries a lower rate and far less total interest, but the monthly payment is much higher. Compare the two terms here, then judge against your monthly budget rather than the interest total alone.
The maths is universal — price, deposit, rate, term. Enter amounts in your own currency and the results come out in the same unit. The conventions around the loan (how property tax, insurance and association fees are charged) differ by country, so enter those costs the way they are billed where you live.
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