FINANCIAL CALCULATOR

Mortgage Calculator

Estimate your monthly mortgage payment, cash needed at closing and how extra principal could change the payoff timeline.

MONTHLY PAYMENT

Your estimated payment

$2,750.44Estimated monthly housing payment

Principal & interest$2,275.4482.7%

Property tax$375.0013.6%

Home insurance$100.003.6%

Total$2,750.44100%

Loan summary

Home price$450,000

Down payment$90,000

Loan amount$360,000

Loan term30 years

Interest rate6.500%

Monthly P&I$2,275.44

Cash & loan cost

Closing costs (3.00%)$13,500

Estimated cash needed$103,500

Total interest if held to term$459,160

Principal + interest$819,160

Current property tax / year$4,500

Current insurance / year$1,200

EXTRA PAYMENT SCENARIO

Add extra principal to test a faster payoff.

Extra payments are modeled as principal-only payments after the scheduled payment.

Payoff30 yr

Interest with scenario$459,160

Interest saved$0

Yearly amortizationPrincipal, interest and ending balanceView schedule

Year	Principal	Interest	Ending balance
1	$4,024	$23,282	$355,976
2	$4,293	$23,012	$351,683
3	$4,581	$22,725	$347,102
4	$4,888	$22,418	$342,214
5	$5,215	$22,090	$337,000
6	$5,564	$21,741	$331,435
7	$5,937	$21,368	$325,498
8	$6,334	$20,971	$319,164
9	$6,759	$20,547	$312,405
10	$7,211	$20,094	$305,194
11	$7,694	$19,611	$297,500
12	$8,210	$19,096	$289,290
13	$8,759	$18,546	$280,531
14	$9,346	$17,959	$271,185
15	$9,972	$17,333	$261,213
16	$10,640	$16,666	$250,573
17	$11,352	$15,953	$239,221
18	$12,113	$15,193	$227,108
19	$12,924	$14,382	$214,184
20	$13,789	$13,516	$200,395
21	$14,713	$12,592	$185,682
22	$15,698	$11,607	$169,984
23	$16,750	$10,556	$153,234
24	$17,871	$9,434	$135,363
25	$19,068	$8,237	$116,295
26	$20,345	$6,960	$95,950
27	$21,708	$5,598	$74,242
28	$23,162	$4,144	$51,081
29	$24,713	$2,593	$26,368
30	$26,368	$938	$0

Estimates only. PMI is entered manually because lender pricing varies. Property taxes and insurance can change over time. Maintenance, utilities, lender-specific fees, prepaid items and escrow adjustments are not included unless you enter them elsewhere.

HOW IT WORKS

Clear math, visible assumptions.

CalcStreet uses the standard fixed-rate amortization formula for principal and interest, then adds the ownership costs you enter. Optional PMI, closing-cost and extra-principal assumptions stay visible instead of being hidden in a score.

M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1]P = loan amount · r = monthly rate · n = number of payments

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