Calculator
Enter all monetary amounts in the same currency. Results do not convert currency or replace lender, tax or investment documentation.
Loan principal320,000
Monthly principal & interest1,918.56
Monthly property tax & insurance550
Monthly HOA0
Estimated total monthly housing payment2,468.56
Total interest over the loan term370,682.2
Method and inputs
Formula: monthly P&I = P x r(1+r)^n / ((1+r)^n - 1)
Inputs: Home price, down payment, fixed annual interest rate, loan term, annual property tax, annual insurance and optional monthly HOA fee.
Worked example
A $400,000 home with $80,000 down, a 6% fixed rate and a 30-year term has an estimated principal-and-interest payment of about $1,918.56 per month.
Important limits
This is an estimate for a fully amortizing fixed-rate loan. It excludes closing costs, lender fees, PMI, rate changes, escrow adjustments, points and local lending rules. Review your official Loan Estimate before deciding.