+$50 per month
- Planned monthly housing budget
- $2,072.62
- Projected payoff time
- 28 yr
- Mortgage interest saved versus current plan
- $33,798.57
Interest savings exclude penalties. Owning costs can continue after payoff.
Home financing
US mortgage calculator
See the payment, the housing budget and the difference extra principal can make. Compare fixed-rate purchases in USD, with your assumptions in view.
Calculated in your browser. No account or email needed.
US fixed-rate, fully amortizing monthly mortgages. Use property-specific quotes for taxes and insurance. The default rate is illustrative. State/local tax rules, loan-program eligibility and adjustable rates are outside this model.
Your home purchase
US / fixed rateEnter the note rate. The default is illustrative, not a current offer or APR.
Taxes, insurance and HOA costs
Use quotes for your property. Zero means that cost is omitted. Annual amounts become fixed monthly budget allowances, whether escrowed or paid directly.
No premium or eligibility is inferred from the down payment.
0 keeps your quote until payoff. A positive count includes payments 1 through that month. This is your assumption, not automatic PMI cancellation.
Extra payments and purchase costs
After that month’s regular payment. Check your contract’s prepayment conditions.
Exclude the down payment and recurring costs already budgeted above. Credits, deposits already paid, prepaids and settlement adjustments are not reconciled.
Your monthly picture
AssumptionsScheduled monthly principal and interest
Fixed note rate / USD$2,022.62 USD
DollarMath provides calculators and information for educational purposes. It does not provide financial advice. Read the disclaimer.
Planned monthly housing budget$2,022.62Includes recurring extra and entered housing costs; one-time extra is separate
Mortgage amount$320,00020.00% down / 80.00% loan-to-value
Projected payoff time30 yr360 monthly payments
- Monthly property-tax allowance
- $0.00
- Monthly homeowners insurance allowance
- $0.00
- Monthly HOA / mortgage insurance quote
- $0.00 / $0.00
- Recurring extra principal
- $0.00
- Applied one-time extra principal
- $0.00
- Projected mortgage interest
- $408,140.64
- Interest saved with extras
- $0.00
- Down payment + other purchase costs
- $80,000.00
Housing costs are entered quotes held constant. Zero-valued costs are omitted. This budget is not your lender’s escrow payment or final cash to close. Mortgage insurance follows your entered month count, capped at payoff. Final payments and extras are capped at the debt owing; a one-time extra is separate from the monthly budget. Property taxes, insurance and HOA costs can continue after the mortgage is paid off.
Your path to paid off
Mortgage balance (USD)Current planWithout extra payments
What could a little extra change?
Add to your existing monthly extra principal while keeping the fixed rate, housing-cost quotes and one-time extra unchanged.
+$100 per month
- Planned monthly housing budget
- $2,122.62
- Projected payoff time
- 26 yr 2 mo
- Mortgage interest saved versus current plan
- $61,698.04
Interest savings exclude penalties. Owning costs can continue after payoff.
+$200 per month
- Planned monthly housing budget
- $2,222.62
- Projected payoff time
- 23 yr 5 mo
- Mortgage interest saved versus current plan
- $105,427.85
Interest savings exclude penalties. Owning costs can continue after payoff.
These are illustrations, not recommendations. Trying an option updates your current inputs and results. Saved comparisons are kept.
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The longer view
Entered other housing costs through payoff: $0.00. Including down payment, other purchase costs and mortgage payments, the modelled cash total through payoff is $808,140.64. These totals stop at payoff and do not value your home or predict ongoing ownership costs.
Year-by-year mortgage and housing budget
| Year | Months | Principal paid | Interest | Other housing costs | Combined budget | Debt remaining |
|---|---|---|---|---|---|---|
| 1 | 12 | $3,576.76 | $20,694.68 | $0.00 | $24,271.44 | $316,423.24 |
| 2 | 12 | $3,816.28 | $20,455.16 | $0.00 | $24,271.44 | $312,606.96 |
| 3 | 12 | $4,071.88 | $20,199.56 | $0.00 | $24,271.44 | $308,535.08 |
| 4 | 12 | $4,344.57 | $19,926.87 | $0.00 | $24,271.44 | $304,190.51 |
| 5 | 12 | $4,635.54 | $19,635.90 | $0.00 | $24,271.44 | $299,554.97 |
| 6 | 12 | $4,946.00 | $19,325.44 | $0.00 | $24,271.44 | $294,608.97 |
| 7 | 12 | $5,277.22 | $18,994.22 | $0.00 | $24,271.44 | $289,331.75 |
| 8 | 12 | $5,630.65 | $18,640.79 | $0.00 | $24,271.44 | $283,701.10 |
| 9 | 12 | $6,007.75 | $18,263.69 | $0.00 | $24,271.44 | $277,693.35 |
| 10 | 12 | $6,410.11 | $17,861.33 | $0.00 | $24,271.44 | $271,283.24 |
| 11 | 12 | $6,839.41 | $17,432.03 | $0.00 | $24,271.44 | $264,443.83 |
| 12 | 12 | $7,297.46 | $16,973.98 | $0.00 | $24,271.44 | $257,146.37 |
| 13 | 12 | $7,786.17 | $16,485.27 | $0.00 | $24,271.44 | $249,360.20 |
| 14 | 12 | $8,307.62 | $15,963.82 | $0.00 | $24,271.44 | $241,052.58 |
| 15 | 12 | $8,864.02 | $15,407.42 | $0.00 | $24,271.44 | $232,188.56 |
| 16 | 12 | $9,457.63 | $14,813.81 | $0.00 | $24,271.44 | $222,730.93 |
| 17 | 12 | $10,091.05 | $14,180.39 | $0.00 | $24,271.44 | $212,639.88 |
| 18 | 12 | $10,766.86 | $13,504.58 | $0.00 | $24,271.44 | $201,873.02 |
| 19 | 12 | $11,487.93 | $12,783.51 | $0.00 | $24,271.44 | $190,385.09 |
| 20 | 12 | $12,257.30 | $12,014.14 | $0.00 | $24,271.44 | $178,127.79 |
| 21 | 12 | $13,078.20 | $11,193.24 | $0.00 | $24,271.44 | $165,049.59 |
| 22 | 12 | $13,954.06 | $10,317.38 | $0.00 | $24,271.44 | $151,095.53 |
| 23 | 12 | $14,888.61 | $9,382.83 | $0.00 | $24,271.44 | $136,206.92 |
| 24 | 12 | $15,885.71 | $8,385.73 | $0.00 | $24,271.44 | $120,321.21 |
| 25 | 12 | $16,949.60 | $7,321.84 | $0.00 | $24,271.44 | $103,371.61 |
| 26 | 12 | $18,084.76 | $6,186.68 | $0.00 | $24,271.44 | $85,286.85 |
| 27 | 12 | $19,295.92 | $4,975.52 | $0.00 | $24,271.44 | $65,990.93 |
| 28 | 12 | $20,588.22 | $3,683.22 | $0.00 | $24,271.44 | $45,402.71 |
| 29 | 12 | $21,967.04 | $2,304.40 | $0.00 | $24,271.44 | $23,435.67 |
| 30 | 12 | $23,435.67 | $833.21 | $0.00 | $24,268.88 | $0.00 |
How much is a US fixed-rate mortgage payment?
Subtract the cash down payment from the home price to get the mortgage principal. Divide the annual note rate by 12 and amortize over the monthly payments in the full repayment term. A $320,000 mortgage at an illustrative 6.5% for 30 years gives $2,022.62 monthly principal and interest. Entered property taxes, insurance, HOA dues and extra principal form a separate housing budget. Those costs default to zero and are not estimated from your location.
Reviewed October 25, 2026 by DollarMath. Educational estimates. Sources and calculation scope.
Common questions
What is the payment on a $320,000 mortgage at 6.5% for 30 years?
The model gives $2,022.62 per month in principal and interest, using a fixed annual note rate divided by 12. This excludes property taxes, insurance, HOA dues, closing costs and extra principal. The final payment settles cent-rounding residue. The rate is an example, not a current offer.
Does the calculator include my state or local property taxes?
Only the annual amount you enter. It does not look up state, county or municipal rates, exemptions, assessments or transfer taxes. Use a property-specific quote or local tax record. The annual amount becomes a fixed monthly budget allowance; actual bills and escrow collections can differ.
Does a down payment below 20% automatically add PMI?
No. Enter your quoted monthly mortgage insurance and, optionally, how many payments include it. Zero duration keeps that quote through payoff. A positive count includes payments 1 through that month, capped at payoff. Neither eligibility, premiums nor legal cancellation dates are calculated. FHA, VA and USDA program rules are not modelled.
Should I use the mortgage interest rate or APR?
Use the fixed note interest rate. APR can include loan costs and is not the rate used here to amortize principal. Enter cash-paid purchase costs separately, once. This tool does not calculate a regulatory APR, financed closing costs or a lender’s settlement statement.
How do extra principal payments change the result?
Recurring extras apply each month, and an optional one-time amount follows the selected regular payment. They are capped at the remaining debt and stop at payoff. The scheduled payment is not recast. The chart compares the current plan with no extras until you load another comparison. Penalties, servicing instructions and lender restrictions are excluded.
Is the housing budget my escrow payment or exact cash to close?
No. It adds monthly principal and interest, recurring extra principal and entered housing-cost allowances. HOA dues may be paid separately. Down payment plus other purchase costs is shown before deposits, credits and settlement adjustments. Property taxes, insurance and HOA expenses can continue after payoff; the schedule totals only the mortgage horizon.
Can I save plans or use my results in Excel or Google Sheets?
Yes. Save named plans in this browser without an account, then reopen, compare, rename or duplicate them. JSON backups can restore editable plans after local validation and a review step. Download a spreadsheet for typed inputs, results and detailed schedules where available, then open it in Excel or import it into Google Sheets yourself. Workbooks are snapshots, not live calculator formulas. Plans and files are not encrypted; clearing browser data can remove device plans. Nothing is automatically uploaded or synchronized.
Know the assumptions.
Calculation version us-fixed-monthly-v1. Sources and worked example checked October 25, 2026; qualitative source review due November 25, 2026. How calculations are checked.
A fixed note rate and equal monthly periods
Mortgage principal is the home price minus the down payment, each rounded to cents. The monthly rate is annual note rate / 100 / 12. For principal P, monthly rate i and n monthly payments, the regular payment is P × i / (1 − (1 + i)^−n). At zero interest, divide principal by n. Interest and payments are rounded to cents each month; the final payment settles the remaining balance. This is an equal-period planning convention, not a daily-interest payoff quote.
The term is the full repayment period. For example, $400,000 less an $80,000 down payment gives $320,000 financed. At an illustrative 6.5% over 30 years, scheduled principal and interest is $2,022.62 per month. A separate 50-digit Decimal recurrence checks the payment, annual balances, payoff and interest, including extra-payment cases. No lender approval or market-rate prediction is made.
A housing budget beside the mortgage payment
Annual property-tax and homeowners-insurance quotes are divided by 12, then rounded to monthly cents. HOA dues and mortgage insurance use your monthly quotes. They are held constant and do not pay down principal. Use local records, insurer quotes or the lender’s Loan Estimate; no state or local rate is inferred. A zero input omits that cost.
Mortgage insurance is included for your entered number of monthly payments, capped at payoff. Zero months means all mortgage payments. This is a budget assumption, with no automatic cancellation, loan-to-value trigger or program-specific premium calculation. A lender’s escrow collection can differ, and HOA dues may be paid separately.
Extra principal and cash-paid purchase costs
Recurring extra principal follows each month’s interest. A one-time extra follows the regular payment at your selected payment number. Amounts are capped at the debt owing, and unused extras are not spent. The regular payment is not recast. Check your lender’s instructions and any prepayment charges separately.
Down payment plus other cash-paid purchase costs is shown before settlement adjustments. Enter costs once, excluding the down payment and costs already included in the recurring budget. Deposits already paid, credits, escrow reserves, prepaids, financed fees and exact cash to close are not reconciled. Closing costs do not change the note rate or financed balance in this model. APR is not calculated.
Read totals over their stated horizon
The annual table counts actual payment months, including a partial final year, and separates principal, interest and other housing costs. The cash total through payoff adds those payments to the down payment and entered other purchase costs. A shorter payoff horizon also shortens the displayed housing-cost total; owning costs can continue afterward. Do not treat that difference as lifetime ownership savings or a change in your home’s value.
Adjustable-rate, interest-only, balloon, delinquency and refinancing models, tax deductions, FHA/VA/USDA rules, credit qualification and state/local tax calculations are excluded. Plans stay in your browser unless you choose to export them. US mortgage plans are separate from Canadian mortgage plans and other USD tools.