Loading the page…
Twenty percent down is the line people memorize because conventional PMI often stops there. It is also a lot of cash. The table prices that choice at 6.75% for 30 years, which is an example rate, not a quote.
At 20% down, the loan is 80% of the price, so this model does not add PMI. A smaller down payment can.
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
$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
$2,558.84
The estimated monthly payment is $2,558.84. Principal and interest are $2,075.51, property tax is $333.33, 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 |
Save these inputs
Saving keeps the numbers on this device only. You can use the calculator without saving.
| Home price | Cash down | Loan amount | Principal and interest | Example PMI | Estimated housing |
|---|---|---|---|---|---|
| $300,000 | $60,000 | $240,000 | $1,556.64 | None | $1,956.64 |
| $400,000 | $80,000 | $320,000 | $2,075.51 | None | $2,558.84 |
| $500,000 | $100,000 | $400,000 | $2,594.39 | None | $3,161.06 |
On a $400,000 home, 20% down is $80,000 and the example principal and interest is $2,075.51. 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.
Not in this model. The loan is 80% of the price, which is the cutoff used here. Some loan programs still charge mortgage insurance, or a different fee, below or above that line.
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.