Mortgage Amortization Calculator
Estimate monthly principal and interest, taxes, insurance, HOA, PMI, payoff timing, interest cost, and a complete month-by-month amortization schedule.
Direct answer
How much does a mortgage really cost each month?
The loan payment is only one part of the picture. A realistic mortgage estimate should include principal, interest, property taxes, homeowners insurance, HOA dues if applicable, and PMI when the down payment is below 20%. This calculator shows both the monthly payment and the long-term amortization pattern.
Loan Inputs
Results
Payment Summary
| Item | Monthly | Annual | Total |
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Amortization Schedule
Review each payment by month. Annual subtotal rows are included so you can quickly see how principal, interest, escrow costs, and loan balance change over time.
| Date | Interest | Principal | Taxes | Insurance | HOA | PMI | Balance |
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How Mortgage Amortization Works
Mortgage amortization is the process of paying a loan down over time through scheduled payments. With a fixed rate mortgage, the principal and interest payment stays the same, but the split changes each month. Early payments are more interest heavy because the outstanding balance is higher. Later payments apply more money toward principal as the balance falls.
What the calculator includes
- Principal and interest based on price, down payment, rate, and term
- Property taxes, homeowners insurance, HOA dues, and estimated PMI
- Extra monthly principal payments and payoff acceleration
- CSV export, PDF-style print report, chart, and monthly schedule
What to compare before choosing a loan
- Monthly payment comfort, not only the maximum approval amount
- Total interest cost over the full term
- How much cash is needed for down payment and reserves
- Whether a shorter term or extra payment fits your goals
Principal and interest
The standard fixed mortgage payment formula uses the loan amount, monthly interest rate, and number of payments. If the interest rate is zero, the payment is simply the loan amount divided by the number of months. Otherwise, the formula spreads the loan payoff across the term while accounting for interest charged each month.
Taxes, insurance, HOA, and PMI
Principal and interest are not the whole housing cost. Many borrowers also pay property taxes and homeowners insurance through escrow. HOA dues are separate when the property has an association. PMI may apply when the down payment is below 20%, and this calculator estimates PMI until the balance reaches about 78% of the original home price.
Extra payments
Extra principal payments reduce the balance faster. Even a modest monthly extra payment can shorten the loan and lower total interest because future interest is calculated from a smaller balance.
For mortgage questions beyond the calculator, you can compare mortgage broker vs bank, review questions to ask a mortgage broker, or start the process through 360 Mortgage’s application page.
Want a real loan estimate?
This calculator is useful for planning, but actual payment, rate, APR, PMI, taxes, insurance, and closing costs depend on the property, borrower profile, loan program, and final underwriting.
Mortgage Amortization Calculator FAQs
What is an amortization schedule?
An amortization schedule shows how each mortgage payment is split between interest and principal, plus the remaining loan balance after each payment.
Does this calculator include taxes and insurance?
Yes. The total monthly payment estimate includes principal, interest, property taxes, homeowners insurance, HOA dues, and estimated PMI when applicable.
When does PMI go away?
This calculator estimates PMI until the loan balance reaches about 78% of the original home price. Actual PMI cancellation rules can depend on loan type, payment history, property value, and lender guidelines.
Can I download the amortization schedule?
Yes. Use the CSV button for a spreadsheet-ready schedule, or use the PDF button to open a printable report that can be saved as a PDF from your browser.
Is this a loan approval or official quote?
No. It is an educational estimate only. Rates, fees, taxes, insurance, PMI, loan eligibility, and final payment amounts are subject to lender review and underwriting.
Disclosure: This calculator provides general educational estimates and is not a commitment to lend. Loan programs, rates, APR, fees, taxes, insurance, PMI, and underwriting guidelines vary and are subject to change. 360 Mortgage Inc. NMLS ID 80777. Licensed mortgage broker in Missouri, Kansas, and Louisiana.