Mortgage calculator
Estimate the full monthly payment on a home, principal and interest plus property tax, insurance, HOA dues and PMI, and see the total interest over the life of the loan.
- Principal & interest
$2,022.62$2,022.62 79% - Property tax
$400.00$400.00 16% - Home insurance
$150.00$150.00 6% - HOA dues
$0.00$0.00 0% - PMI
$0.00$0.00 0%
- Loan amount
$320,000$320,000 - Total interest
$408,141$408,141 - Down payment share
- 20%
Estimates, rounded for display. Rates, taxes and fees change; check the figures that matter against your own statements.
The math behind the result
The loan amount is the price minus the down payment. Its monthly principal and interest payment comes from the same amortization formula as any fixed-rate loan: the monthly rate applied to the balance, with the payment sized to reach zero at the end of the term.
The rest of the payment is not the loan. Property tax and homeowners insurance are yearly bills the lender usually collects monthly into escrow, so they are divided by 12. HOA dues are already monthly. Private mortgage insurance applies while the down payment is under 20% and is charged as a yearly share of the loan, spread over the months.
A shorter term raises the monthly payment and cuts the total interest sharply; at the same rate, a 15-year loan costs well under half the interest of a 30-year loan. The schedule under the chart shows how much of each year goes to interest.
P&I = L × r ÷ (1 − (1 + r)^−n) monthly payment = P&I + tax ÷ 12 + insurance ÷ 12 + HOA + PMI L = price − down payment · r = rate ÷ 12 · n = years × 12
Questions, answered.
Connect the account your payment comes from and Zypper finds the mortgage among your recurring bills, with its next expected date and amount. Add the home as a manual account and the mortgage as its loan, and your equity shows in your net worth as the balance falls.