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🏠 Mortgage Payment ProFull PITI payment · amortization schedule · extra-payment savings ⬇ CSV🖨 PDF↺ Reset Loan details Home price$ Down payment $% Interest rate APR% Loan term10 yr15 yr20 yr30 yr Start dateJanFebMarAprMayJunJulAugSepOctNovDec Taxes, insurance & fees Property tax / yr$ Insurance / yr$ PMI rate / yr% HOA / month$ PMI applies only when down payment is under 20% and drops off automatically at 78% loan-to-value. Pay it off faster Extra principal / month$ One-time extra$ In payment # Biweekly payments (13 full payments a year) ↺ Reset to defaults Estimated monthly payment$0 $0Loan amount $0Total interest $0Total of payments —Payoff date Balance & equity over timeBalancePrincipal paidInterest paidWithout extras Amortization scheduleYearlyMonthly Estimates for planning only — not a loan offer or financial advice. Your lender's figures may differ slightly due to rounding and escrow timing. Free Tool · Updated October 2026 Mortgage Payment Pro: See Your True Monthly Payment in Seconds Principal, interest, property tax, insurance, PMI and HOA — all in one number. Then see your full amortization schedule, your payoff date, and exactly how much an extra payment would save you. ✔ Full PITI payment✔ Amortization schedule✔ Extra-payment savings✔ CSV & PDF export✔ No sign-up ⚡ Quick Answer On a $400,000 home with 20% down ($320,000 loan) at 7.25% for 30 years, principal and interest come to about $2,183 a month. Add typical property tax and insurance and the real payment is closer to $2,700. Over the full term you'd pay roughly $465,900 in interest — more than the loan itself. 7.28%Freddie Mac average 30-year fixed rate, week of Oct 1, 2026 6.60%Average 15-year fixed rate, same week 89%Share of your first-year payments that goes to interest (7.25%, 30-yr) $126KInterest saved by adding $200/month to a $320K loan 🧮 Mortgage Payment Pro calculator goes here Rates have climbed sharply this fall. Freddie Mac's weekly survey showed the 30-year fixed average jumping from 6.65% in mid-August to 7.28% by October 1, 2026 — a move that adds well over $100 a month to a typical new loan. When rates move that fast, guessing at your payment isn't good enough. Mortgage Payment Pro gives you the exact number, shows where every dollar goes, and lets you test the moves that cut your cost. How to Use Mortgage Payment Pro Enter the home price — the listing price, or the top of the range you're shopping. Set your down payment as a dollar amount or a percentage. Under 20% on a conventional loan usually triggers PMI. Pick a loan term — 30, 20, 15 or 10 years. Use the slider to compare instantly. Enter your interest rate from a lender quote or Loan Estimate. Even a 0.25% difference shows up clearly. Add property tax, homeowners insurance, PMI and HOA dues for your true all-in payment (PITI). Try an extra payment — monthly or one-time — to see your new payoff date and interest saved. Review and export — check the donut breakdown and balance chart, then download the amortization schedule as CSV or PDF. What Makes Up Your Monthly Mortgage Payment Lenders call the full payment PITI: principal, interest, taxes and insurance. Here's how it breaks down for our $400,000 example home: 🏦$250PrincipalThe part that actually pays down your loan and builds equity. Small at first, it grows every month. 📈$1,933InterestThe lender's charge, calculated on your remaining balance. It dominates the early years of the loan. 🏛️$367Property TaxBased on a 1.1% annual rate. Usually collected monthly into escrow. Varies widely by state and county. 🛡️$150Homeowners InsuranceAssumes $1,800 a year. Required by every lender; costs are rising fastest in storm-prone areas. Total: about $2,700 a month. If you put down only 10%, the loan grows to $360,000, principal and interest rise to about $2,456, and PMI (around 0.5% a year) adds roughly $150 more — pushing the total near $3,120. The Mortgage Payment Formula Mortgage Payment Pro uses the same standard amortization formula every lender uses for fixed-rate loans: M = P × [ r(1 + r)n ] ÷ [ (1 + r)n − 1 ] M = monthly principal + interest payment P = loan amount (home price minus down payment) r = monthly interest rate (annual rate ÷ 12) n = total number of payments (years × 12) Worked example: P = $320,000, r = 0.0725 ÷ 12 = 0.006042, n = 360. Plug those in and M = $2,182.96. Taxes, insurance, PMI and HOA are then added on top — the formula covers principal and interest only. How Interest Rates Change Your Payment Same $320,000 loan, 30-year fixed, different rates. The bars show total interest paid over the life of the loan: RateMonthly P&ITotal InterestLifetime Interest 6.25%$1,970$389,306 6.50%$2,023$408,142 7.00%$2,129$446,428 7.25%$2,183$465,867 7.75%$2,293$505,307 8.00%$2,348$525,297 Takeaway: moving from 6.25% to 7.25% costs about $213 more per month — and $76,500 more over 30 years. Shopping three or four lenders to shave even a quarter point is worth real money. Reading Your Amortization Schedule An amortization schedule lists every payment and splits it into interest and principal. Because interest is charged on the remaining balance, early payments are mostly interest. On our 7.25% example: MilestoneInterestPrincipalInterest Share Payment #1$1,933$250 Entire Year 1$23,098$3,097 Payment #246 (≈ year 21)Principal finally exceeds interest Final payment (#360)$13$2,170 That's why the first decade feels slow: after a full year of payments totaling about $26,200, your balance drops by only $3,100. Mortgage Payment Pro's yearly and monthly views, plus its balance-over-time chart, make this crossover easy to see. 15-Year vs 30-Year Mortgage Using early-October 2026 average rates on the same $320,000 loan: 30-Year at 7.25% Monthly P&I: $2,183 Total interest: $465,867 Lower payment, more monthly breathing room Best for first-time buyers and tight budgets 15-Year at 6.60% Monthly P&I: $2,805 Total interest: $184,930 About $622 more per month Saves roughly $280,900 in interest A middle path: take the 30-year for flexibility, then pay extra whenever you can. You keep the low required payment but capture much of the savings. How Much Do Extra Payments Really Save? Here's what extra principal does to our $320,000 loan at 7.25%, starting from month one: StrategyInterest SavedPaid Off Early BySavings +$100 / month$74,7094 years Biweekly payments (13 per year)$117,9936 yrs 5 mos +$200 / month$126,1156 yrs 11 mos +$500 / month$217,91612 yrs 4 mos Even $100 a month — about $3.30 a day — saves nearly $75,000. Enter your own amount in the calculator's extra-payment field to see your exact payoff date. 7 Smart Ways to Lower Your Mortgage Payment 1Shop at least three lendersRate quotes on the same day can differ by a quarter point or more. On a $320K loan, 0.25% is worth about $55 a month. 2Reach 20% down to skip PMIPMI typically runs 0.3% to 1.5% of the loan per year. If you can't hit 20%, plan to request PMI removal once you reach 20% equity. 3Raise your credit score firstHigher scores unlock better pricing on both the rate and PMI. Paying down card balances before applying is the fastest lever. 4Compare discount points honestlyBuying points lowers the rate but costs cash upfront. Divide the cost by the monthly savings to find your break-even month — only worth it if you'll stay longer. 5Shop homeowners insurance yearlyPremiums have been rising fast. Comparing carriers or raising your deductible can trim your escrow payment without touching the loan. 6Appeal your property assessmentIf your home is assessed above market value, a successful appeal lowers your tax bill — and your monthly payment — every year. 7Watch for a refinance windowRates move. If they fall meaningfully below your rate, run both loans in Mortgage Payment Pro and compare against closing costs. Who Mortgage Payment Pro Is For 🏠First-time buyersFind a price range that fits your budget before you fall in love with a listing. 🔁RefinancersCompare your current loan against a new rate and term side by side. 💸Early-payoff plannersTest extra payments and see your new debt-free date instantly. 📊Agents & investorsExport clean amortization schedules as CSV or PDF for clients and deal analysis. Run Your Own Numbers Now Free, private, and instant — your data never leaves your browser. Open Mortgage Payment Pro ↑ Frequently Asked Questions How is a monthly mortgage payment calculated?Principal and interest come from the standard amortization formula using your loan amount, monthly interest rate and number of payments. Property tax, homeowners insurance, PMI and HOA dues are then added to get your full monthly payment (PITI). What is the monthly payment on a $320,000 mortgage?At 7.25% for 30 years, principal and interest are about $2,183 a month. At 6.5% it's about $2,023, and on a 15-year loan at 6.6% it's about $2,805. Taxes and insurance are extra. Why does most of my early payment go to interest?Interest is charged on your remaining balance, which is highest at the start. On a 30-year loan at 7.25%, about 89% of the first payment is interest, and principal doesn't overtake interest until around year 21. Is a 15-year or 30-year mortgage better?A 15-year loan has a higher payment but a lower rate and far less total interest — about $281,000 less on a $320,000 loan at current averages. A 30-year loan keeps the payment lower and more flexible. Choose based on how much monthly cushion you need. How much does PMI cost?PMI on a conventional loan typically costs about 0.3% to 1.5% of the loan amount per year, depending on credit score and down payment. You can usually ask to remove it at 20% equity, and it ends automatically at 22% equity based on the original schedule. Do extra payments really make a difference?Yes. On a $320,000, 30-year loan at 7.25%, an extra $200 a month saves about $126,000 in interest and pays the loan off nearly seven years early. Make sure your servicer applies extra money to principal. Are biweekly mortgage payments worth it?Paying half your payment every two weeks results in 13 full payments a year instead of 12. On our example loan, that saves about $118,000 and cuts roughly six and a half years. Avoid third-party programs that charge fees for the same result. Is Mortgage Payment Pro free and private?Yes. It's completely free, needs no sign-up, and runs entirely in your browser. Your numbers are never stored or sent anywhere. Disclaimer: Mortgage Payment Pro and the examples in this article are estimates for planning purposes only and are not a loan offer or financial advice. Rate figures reference Freddie Mac's Primary Mortgage Market Survey (week of October 1, 2026); rates change weekly. Your actual rate, taxes, insurance and payment depend on your lender, credit profile and location.

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