What are the monthly payment and total interest?
Monthly payment
$2,275.44
Tip. Add tax, insurance, and maintenance on top before judging whether the payment is affordable.
Explore the numbers
Start with a scenario, then read the response curve to see which input actually moves the answer.
Example 1
Common starter case: $400k principal, 6.5% rate, 30 years.
Monthly payment
$2,528.27
Example 2
Same principal and rate with a shorter term to compare payment vs interest.
Monthly payment
$3,484.43
Example 3
Shows how a 7.5% rate changes payment and total interest.
Monthly payment
$2,796.86
Sweeps annual interest rate from half to one and a half times your value, holding everything else fixed.
Response curve
Monthly payment
$2,275.44
Timeline
Estimates principal and interest for a fixed-rate amortizing mortgage. Taxes, insurance, HOA, and PMI are left out on purpose so you can see the loan math clearly.
M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), where r = annual rate ÷ 12 and n = years · 12. Loan amount P is the principal you enter.
Usually not. Most payments also escrow property tax and insurance, and often mortgage insurance or HOA dues. Those commonly add 20 to 30% on top of principal and interest.
The purchase price minus your down payment, plus anything you roll into the loan such as financed closing costs.
Because the rate applies to the entire balance for thirty years. On a $400,000 loan, one percentage point is roughly $260 a month and close to $95,000 over the full term.
It usually cuts total interest by more than half and often carries a lower rate. The trade is a much larger required payment, with far less flexibility if your income drops.
On a 30-year loan at about 6.5%, principal and interest on $300,000 is roughly $1,900 a month. Property tax, insurance, and HOA dues add several hundred more.
Principal, interest, taxes, and insurance: the four parts of a full mortgage payment. This calculator shows the principal and interest portion, and you add your own escrow estimate for the rest.
A common guideline keeps housing costs under about 28 to 31% of gross income and total debt under about 43%. Lenders also weigh your credit score, down payment, and other debts.
No. They are educational estimates based on the inputs and assumptions on this page. Confirm important decisions with a qualified professional and your own documents.
The questions people usually ask next.