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Putting 10% down keeps more money in your account and usually leaves mortgage insurance on the loan. Whether that trade is worth it depends on the PMI you are actually offered. The table uses 6.75% for 30 years as an example, not a live rate.
At 10% down, the loan is above 80% of the price, so this model adds an example PMI charge of 0.50% of the loan per year. That charge is not a lender quote.
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.
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
$40,000.00 down. Loan amount $360,000.00.
Example starting rate, not a live quote.
Loan term
Placeholder until you enter the home's tax bill.
Estimate: 0.50% of the loan amount per year. You can replace it.
Estimated monthly payment
Principal, interest, taxes, insurance, PMI, and HOA
$2,968.28
The estimated monthly payment is $2,968.28. Principal and interest are $2,334.95, property tax is $333.33, insurance is $150.00, PMI 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 | $3,185.67 | $213,422Lowest interest | September 2041 |
| 20 years | $2,737.31 | $296,955 | September 2046 |
| 30 years — selected | $2,334.95 | $480,586 | September 2056 |
Schedule view
| Year | Principal | Interest | Total paid | Ending balance |
|---|---|---|---|---|
| 1 | $3,836.66 | $24,182.74 | $28,019.40 | $356,163.34 |
| 2 | $4,103.80 | $23,915.60 | $28,019.40 | $352,059.54 |
| 3 | $4,389.53 | $23,629.87 | $28,019.40 | $347,670.01 |
| 4 | $4,695.17 | $23,324.23 | $28,019.40 | $342,974.84 |
| 5 | $5,022.07 | $22,997.33 | $28,019.40 | $337,952.77 |
| 6 | $5,371.76 | $22,647.64 | $28,019.40 | $332,581.01 |
| 7 | $5,745.77 | $22,273.63 | $28,019.40 | $326,835.24 |
| 8 | $6,145.84 | $21,873.56 | $28,019.40 | $320,689.40 |
| 9 | $6,573.76 | $21,445.64 | $28,019.40 | $314,115.64 |
| 10 | $7,031.48 | $20,987.92 | $28,019.40 | $307,084.16 |
| 11 | $7,521.07 | $20,498.33 | $28,019.40 | $299,563.09 |
| 12 | $8,044.74 | $19,974.66 | $28,019.40 | $291,518.35 |
| 13 | $8,604.88 | $19,414.52 | $28,019.40 | $282,913.47 |
| 14 | $9,204.02 | $18,815.38 | $28,019.40 | $273,709.45 |
| 15 | $9,844.89 | $18,174.51 | $28,019.40 | $263,864.56 |
| 16 | $10,530.37 | $17,489.03 | $28,019.40 | $253,334.19 |
| 17 | $11,263.57 | $16,755.83 | $28,019.40 | $242,070.62 |
| 18 | $12,047.84 | $15,971.56 | $28,019.40 | $230,022.78 |
| 19 | $12,886.70 | $15,132.70 | $28,019.40 | $217,136.08 |
| 20 | $13,783.97 | $14,235.43 | $28,019.40 | $203,352.11 |
| 21 | $14,743.70 | $13,275.70 | $28,019.40 | $188,608.41 |
| 22 | $15,770.31 | $12,249.09 | $28,019.40 | $172,838.10 |
| 23 | $16,868.37 | $11,151.03 | $28,019.40 | $155,969.73 |
| 24 | $18,042.85 | $9,976.55 | $28,019.40 | $137,926.88 |
| 25 | $19,299.15 | $8,720.25 | $28,019.40 | $118,627.73 |
| 26 | $20,642.91 | $7,376.49 | $28,019.40 | $97,984.82 |
| 27 | $22,080.23 | $5,939.17 | $28,019.40 | $75,904.59 |
| 28 | $23,617.64 | $4,401.76 | $28,019.40 | $52,286.95 |
| 29 | $25,262.07 | $2,757.33 | $28,019.40 | $27,024.88 |
| 30 | $27,024.88 | $998.38 | $28,023.26 | $0.00 |
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| Home price | Cash down | Loan amount | Principal and interest | Example PMI | Estimated housing |
|---|---|---|---|---|---|
| $300,000 | $30,000 | $270,000 | $1,751.21 | $112.50 | $2,263.71 |
| $400,000 | $40,000 | $360,000 | $2,334.95 | $150.00 | $2,968.28 |
| $500,000 | $50,000 | $450,000 | $2,918.69 | $187.50 | $3,672.86 |
On a $400,000 home, 10% down is $40,000 and the example principal and interest is $2,334.95. At 20% down on the same home, principal and interest is $2,075.51.
Taxes in the estimated housing column are 1% of the price per year. Insurance is $1,800 a year. HOA dues are not included.
Principal and interest are not always the complete housing payment. Property taxes, homeowners insurance, PMI when the loan is above 80% of the price, and HOA fees can all sit on top of that payment. Replace the placeholders with the bills for the property. The PMI calculator and the closing cost calculator cover two of those extra costs. This site is not a lender, and these figures are not a loan offer.
In this model, yes. The loan is more than 80% of the price, so the example PMI rate of 0.50% a year is added. A lender's PMI price depends on credit and the loan.
No. 6.75% is an example rate. The calculator uses an example interest rate for illustration. Actual mortgage rates vary with the market, the borrower, the loan type, credit, and the lender.
Set your own price, down payment, rate, taxes, and insurance.
Turn a percent down into the cash you would bring.
Estimate the insurance that can apply under 20% down.
Cash at closing is more than the down payment.
Longer guides on these topics are linked from the guides library.