Nest Seekers · Example numbers only

Mortgage payment calculator

Estimate a full monthly housing payment — principal and interest, property tax, insurance, HOA, and PMI. You type the interest rate. This page does not look up a market rate.

Hudson-Bergen Light Rail with a bright Manhattan skyline beyond — Hudson-Bergen Light Rail. Jose Martinez (Joselito) · Nest Seekers · 201-406-6983

These fields start with example numbers so you can see how the estimate works. Change every one of them. Nothing here is a current market rate, and this page does not look up rates.

Your numbers

Home price

Example: $500,000. Type the price you have in mind.

Down payment

Down payment in dollars

Down payment as a percent of the price

The dollar amount and the percent stay in step. This example uses 10% so mortgage insurance appears. At 20% or more, suggested PMI becomes $0.

Interest rate

Type the annual rate your lender gave you, as a percent. The 6.5% in the box is only an example — not today’s rate.

Loan term

30 years20 years15 years10 years

Choose 30, 20, 15, or 10 years.

Annual property tax

Property tax per year, in dollars

Property tax per year, as a percent of the price

New Jersey property taxes vary a lot by town. Check your municipality’s rate — the $10,000 (2%) here is only an example you can replace.

Homeowners insurance per year

Example: $1,800 a year. Your insurer’s quote replaces this.

Monthly HOA or condo fee

Example: $0. Type the monthly fee if the building charges one.

Mortgage insurance (PMI)

PMI rate, percent of the loan per year

PMI per month

The down payment is under 20%, so this suggests PMI from the rate you set. The 0.50% rate is an example, not a quote. Edit the rate or the monthly amount.

Estimated payment

Total monthly payment

$4,015.14

From the numbers in the form. An estimate, not a loan offer.

Estimates only. Not a loan offer or commitment. Actual payments depend on the lender, your credit, taxes, and insurance.

Monthly breakdown

Monthly breakdown
Principal and interest	$2,844.31
Property tax	$833.33
Homeowners insurance	$150.00
HOA or condo fee	$0.00
PMI	$187.50
Total monthly payment	$4,015.14

Loan amount: $450,000.00
Total interest over the life of the loan: $573,947.33; Interest only, if every payment is made on time for the full term. Taxes, insurance, HOA, and PMI are not included in this total.

Year-by-year summaryPrincipal, interest, and the balance left at the end of each year. Open this table when you want it.

On a phone, slide the table sideways to see every column.

Year-by-year summary
Year	Principal paid	Interest paid	Balance left	Interest so far
1	$5,029.83	$29,101.89	$444,970.17	$29,101.89
2	$5,366.67	$28,765.05	$439,603.50	$57,866.94
3	$5,726.08	$28,405.64	$433,877.42	$86,272.58
4	$6,109.56	$28,022.16	$427,767.86	$114,294.74
5	$6,518.73	$27,612.99	$421,249.13	$141,907.73
6	$6,955.30	$27,176.42	$414,293.83	$169,084.15
7	$7,421.12	$26,710.60	$406,872.71	$195,794.75
8	$7,918.13	$26,213.59	$398,954.58	$222,008.34
9	$8,448.42	$25,683.30	$390,506.16	$247,691.64
10	$9,014.24	$25,117.48	$381,491.92	$272,809.12
11	$9,617.92	$24,513.80	$371,874.00	$297,322.92
12	$10,262.06	$23,869.66	$361,611.94	$321,192.58
13	$10,949.33	$23,182.39	$350,662.61	$344,374.97
14	$11,682.64	$22,449.08	$338,979.97	$366,824.05
15	$12,465.03	$21,666.69	$326,514.94	$388,490.74
16	$13,299.81	$20,831.91	$313,215.13	$409,322.65
17	$14,190.56	$19,941.16	$299,024.57	$429,263.81
18	$15,140.93	$18,990.79	$283,883.64	$448,254.60
19	$16,154.92	$17,976.80	$267,728.72	$466,231.40
20	$17,236.85	$16,894.87	$250,491.87	$483,126.27
21	$18,391.23	$15,740.49	$232,100.64	$498,866.76
22	$19,622.94	$14,508.78	$212,477.70	$513,375.54
23	$20,937.11	$13,194.61	$191,540.59	$526,570.15
24	$22,339.34	$11,792.38	$169,201.25	$538,362.53
25	$23,835.42	$10,296.30	$145,365.83	$548,658.83
26	$25,431.72	$8,700.00	$119,934.11	$557,358.83
27	$27,134.93	$6,996.79	$92,799.18	$564,355.62
28	$28,952.21	$5,179.51	$63,846.97	$569,535.13
29	$30,891.20	$3,240.52	$32,955.77	$572,775.65
30	$32,955.77	$1,171.68	$0.00	$573,947.33

How to use it

1
Leave the example numbers, or replace them with a price and a rate from your lender.
2
The down payment in dollars and the percent stay in step. Under 20% down, PMI is suggested and you can change it.
3
Read the monthly breakdown, then open the year-by-year table if you want the life of the loan.

Want the words, not only the numbers?

The mortgage guide explains pre-approval, loan types in general, and how a payoff works when you sell an inherited home or a house in pre-foreclosure.

Read the mortgage guide

Jose Martinez (Joselito) is a licensed New Jersey real estate salesperson (Lic. 1431438) with Nest Seekers, 1200 Washington Street, Hoboken, NJ 07030. He is not a mortgage lender.