Mortgage calculator

The monthly principal and interest on a $320,000 loan at 6.5% for 30 years is $2,022.62. Add property taxes and homeowners insurance (PITI), PMI and HOA dues to see the total monthly payment.

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Loan term
%

Enter the rate from your loan estimate. For reference, see the weekly average rates published by Freddie Mac (PMMS).

Taxes, insurance and other costs (optional)

Result

Please complete the details. The result will appear here.

How it is calculated

  1. Loan amount = home price − down payment. Monthly rate r = annual rate ÷ 12 ÷ 100. Number of payments n = years × 12.
  2. Principal and interest = loan amount × r × (1 + r)^n ÷ ((1 + r)^n − 1). If the rate is 0, it is the loan amount ÷ n.
  3. Total monthly payment = principal and interest + property tax ÷ 12 + homeowners insurance ÷ 12 + PMI + HOA dues. Principal, interest, taxes and insurance are known as PITI.
  4. Total interest = principal and interest × n − loan amount. Amounts are rounded to the cent for display.
  5. This calculator does not include a default interest rate, tax rate or insurance cost. Please enter your own figures.
  6. All calculations are done in your browser. The details you enter are not sent to any server.

Worked examples

$320,000 loan at 6.5% for 30 years

Details
$320,000.00, 6.5%, 30 years
Result
Principal and interest $2,022.62; total monthly $2,022.62; total interest $408,142.36

$300,000 loan at 6.68% for 15 years

Details
$300,000.00, 6.68%, 15 years
Result
Principal and interest $2,643.10; total monthly $2,643.10; total interest $175,757.86

$320,000 loan at 6.5% for 30 years, with $4,800 property tax and $1,500 insurance a year

Details
$320,000.00, 6.5%, 30 years
Result
Principal and interest $2,022.62; total monthly $2,547.62; total interest $408,142.36

Official sources

Applies to: Fixed-rate mortgages; the formula does not change by year.

  1. Consumer Financial Protection Bureau: What is PITI?

Last reviewed on October 26, 2026.

The rules on this page have been checked against the official sources listed above. The result is for reference. The rules and assessment of the concerned authority shall prevail.