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The lender's piece is principal and interest. This page also lines up taxes, insurance, HOA, and PMI so you can see the draft that actually leaves your account. The starting rate is an example.
Written for Equidwell and last checked in October 2026. We build the calculators on this site. We are not a lender, and this page is not advice for your loan.
People quote the principal-and-interest number because it is the one a lender calculates. The housing bill is usually larger. Tax, insurance, and HOA show up on their own schedule, and PMI can join them when you start with less than 20% equity.
The pieces stay separate so you can swap the placeholders. The $4,400 tax figure and the $1,800 insurance figure are not a national average. They are blanks with numbers in them.
The comparison keeps your price, your down payment, and your rate, then changes only the term. Fifteen years usually costs more each month and less over the life of the loan.
That tradeoff is the whole point. The lowest interest is written out in words, so you do not have to guess what a color was supposed to mean.
No. It is an example so the calculator has a starting point. Enter the rate from a loan estimate.
No. That total is principal plus interest. Taxes, insurance, PMI, and HOA are shown separately because they are not loan principal.
Only when the loan is more than 80% of the price. The amount is an assumption until you replace it, and a real PMI bill can end before the loan does.
Estimate a home price from income and monthly debts using the 28/36 guideline, with taxes, insurance, and PMI labeled as assumptions.
Build a monthly or annual mortgage amortization schedule, with an optional extra payment and a CSV download.
Estimate monthly PMI and when a conventional loan balance would reach 80% and 78% of the original value.
Add up editable estimates for origination, appraisal, title, recording, and other closing costs. A state name labels the estimate only.
Longer guides on these topics are linked from the guides library.
6.75% is an example rate so the calculator has a starting point. It is not a live market quote. Enter the rate from a loan estimate.
Down payment
$80,000.00 down. Loan amount $320,000.00.
Example starting rate, not a live quote.
Loan term
Placeholder until you enter the home's tax bill.
PMI is $0 in this estimate because the down payment is at least 20% of the price.
Estimated monthly payment
Principal, interest, taxes, insurance, PMI, and HOA
$2,592.18
The estimated monthly payment is $2,592.18. Principal and interest are $2,075.51, property tax is $366.67, insurance is $150.00.
Taxes, insurance, HOA, and PMI are held flat in this model. A real PMI bill can end after the balance falls, and taxes or insurance can change. The interest total assumes the rate stays fixed and you pay the scheduled amount.
Same price, down payment, and rate. The lowest total interest is labeled in words. A shorter term usually raises the monthly principal-and-interest payment.
| Term | Monthly principal and interest | Total interest | Payoff |
|---|---|---|---|
| 15 years | $2,831.71 | $189,708Lowest interest | September 2041 |
| 20 years | $2,433.16 | $263,961 | September 2046 |
| 30 years — selected | $2,075.51 | $427,188 | September 2056 |
Schedule view
| Year | Principal | Interest | Total paid | Ending balance |
|---|---|---|---|---|
| 1 | $3,410.35 | $21,495.77 | $24,906.12 | $316,589.65 |
| 2 | $3,647.80 | $21,258.32 | $24,906.12 | $312,941.85 |
| 3 | $3,901.78 | $21,004.34 | $24,906.12 | $309,040.07 |
| 4 | $4,173.46 | $20,732.66 | $24,906.12 | $304,866.61 |
| 5 | $4,464.06 | $20,442.06 | $24,906.12 | $300,402.55 |
| 6 | $4,774.89 | $20,131.23 | $24,906.12 | $295,627.66 |
| 7 | $5,107.35 | $19,798.77 | $24,906.12 | $290,520.31 |
| 8 | $5,462.97 | $19,443.15 | $24,906.12 | $285,057.34 |
| 9 | $5,843.34 | $19,062.78 | $24,906.12 | $279,214.00 |
| 10 | $6,250.19 | $18,655.93 | $24,906.12 | $272,963.81 |
| 11 | $6,685.37 | $18,220.75 | $24,906.12 | $266,278.44 |
| 12 | $7,150.87 | $17,755.25 | $24,906.12 | $259,127.57 |
| 13 | $7,648.76 | $17,257.36 | $24,906.12 | $251,478.81 |
| 14 | $8,181.33 | $16,724.79 | $24,906.12 | $243,297.48 |
| 15 | $8,750.99 | $16,155.13 | $24,906.12 | $234,546.49 |
| 16 | $9,360.29 | $15,545.83 | $24,906.12 | $225,186.20 |
| 17 | $10,012.03 | $14,894.09 | $24,906.12 | $215,174.17 |
| 18 | $10,709.16 | $14,196.96 | $24,906.12 | $204,465.01 |
| 19 | $11,454.81 | $13,451.31 | $24,906.12 | $193,010.20 |
| 20 | $12,252.41 | $12,653.71 | $24,906.12 | $180,757.79 |
| 21 | $13,105.49 | $11,800.63 | $24,906.12 | $167,652.30 |
| 22 | $14,018.00 | $10,888.12 | $24,906.12 | $153,634.30 |
| 23 | $14,994.04 | $9,912.08 | $24,906.12 | $138,640.26 |
| 24 | $16,038.06 | $8,868.06 | $24,906.12 | $122,602.20 |
| 25 | $17,154.75 | $7,751.37 | $24,906.12 | $105,447.45 |
| 26 | $18,349.18 | $6,556.94 | $24,906.12 | $87,098.27 |
| 27 | $19,626.80 | $5,279.32 | $24,906.12 | $67,471.47 |
| 28 | $20,993.37 | $3,912.75 | $24,906.12 | $46,478.10 |
| 29 | $22,455.11 | $2,451.01 | $24,906.12 | $24,022.99 |
| 30 | $24,022.99 | $887.50 | $24,910.49 | $0.00 |
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