How much house can I afford?
A common rule is to keep the full monthly payment under about 28% of your gross monthly income. Use this calculator to try different prices and down payments.
Calculators
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, PMI and HOA.
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$
%
$80,000.00, 20.0% of the price
%
Loan term
%
$
$
%
Only charged when the down payment is under 20%.
$
Monthly payment
$2,514.28
principal, interest, tax, insurance and fees
Total interest
$408,142.36
Paid off November 2056, after 30 years
- Principal and interest$2,022.62
- Property tax$366.67
- Home insurance$125.00
Loan amount
$320,000.00
Down payment
$80,000.00
Total of payments
$728,142.36
PMI ends
No PMI
Payment schedule
| Year | Principal | Interest | Balance left |
|---|---|---|---|
| 1 | $3,576.72 | $20,694.69 | $316,423.28 |
| 2 | $3,816.26 | $20,455.15 | $312,607.02 |
| 3 | $4,071.84 | $20,199.57 | $308,535.17 |
| 4 | $4,344.54 | $19,926.87 | $304,190.63 |
| 5 | $4,635.50 | $19,635.91 | $299,555.13 |
| 6 | $4,945.95 | $19,325.46 | $294,609.18 |
| 7 | $5,277.19 | $18,994.22 | $289,331.98 |
| 8 | $5,630.62 | $18,640.80 | $283,701.37 |
| 9 | $6,007.71 | $18,263.70 | $277,693.66 |
| 10 | $6,410.06 | $17,861.36 | $271,283.60 |
| 11 | $6,839.35 | $17,432.06 | $264,444.26 |
| 12 | $7,297.39 | $16,974.02 | $257,146.86 |
| 13 | $7,786.11 | $16,485.30 | $249,360.75 |
| 14 | $8,307.56 | $15,963.85 | $241,053.19 |
| 15 | $8,863.94 | $15,407.48 | $232,189.25 |
| 16 | $9,457.57 | $14,813.84 | $222,731.68 |
| 17 | $10,090.96 | $14,180.45 | $212,640.72 |
| 18 | $10,766.77 | $13,504.64 | $201,873.95 |
| 19 | $11,487.84 | $12,783.57 | $190,386.11 |
| 20 | $12,257.20 | $12,014.21 | $178,128.90 |
| 21 | $13,078.09 | $11,193.32 | $165,050.81 |
| 22 | $13,953.96 | $10,317.46 | $151,096.86 |
| 23 | $14,888.48 | $9,382.93 | $136,208.38 |
| 24 | $15,885.59 | $8,385.83 | $120,322.79 |
| 25 | $16,949.47 | $7,321.94 | $103,373.32 |
| 26 | $18,084.61 | $6,186.80 | $85,288.71 |
| 27 | $19,295.77 | $4,975.64 | $65,992.94 |
| 28 | $20,588.05 | $3,683.37 | $45,404.89 |
| 29 | $21,966.86 | $2,304.55 | $23,438.03 |
| 30 | $23,438.03 | $833.39 | $0.00 |
This is an estimate for a fixed-rate loan. Your lender's figures, taxes and insurance costs may be different. This is not financial advice.
How it works
1
Enter the home and loan
Type the home price, your down payment, the interest rate and the loan term.
2
Add the extra costs
Add property tax, home insurance, HOA fees and the PMI rate if your down payment is under 20%.
3
See the full payment
Your total monthly payment with a breakdown, total interest, payoff date and schedule.
Mortgage Calculator features
- Full monthly payment: principal, interest, tax, insurance, PMI and HOA.
- Down payment as a percent or in dollars.
- PMI added only when needed, and removed when you reach 22% equity.
- 30, 20, 15 and 10 year terms.
- Extra payment option to pay off sooner.
- Amortization schedule by year or month.
Mortgage Calculator FAQ
What is PMI?
Private mortgage insurance is usually charged on conventional loans when the down payment is under 20%. It stops once you own enough of the home.
What is included in the monthly payment?
Principal and interest, plus property tax, home insurance, PMI and HOA fees if you have them. Lenders often collect tax and insurance in an escrow account.
Is this exact?
It is a close estimate for a fixed rate loan. Your lender, local taxes and insurance quotes decide the final amount. This is not financial advice.
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