Mortgage calculator
Enter the price, your down payment, the rate and the length. Insurance and fees are shown apart, so you see each cost.
Result
1,051.25Each month, insurance included
- Of which loan (principal and interest)
- 1,001.25
- Of which insurance
- 50.00
- Amount borrowed
- 200,000.00
- Number of months
- 300
- Interest cost
- 100,374.14
- Insurance cost
- 15,000.00
- Fees at signing
- 8,000.00
- Total cost of the loan
- 123,374.14
Year by year
Detailed table
| Year | Principal repaid | Interest paid | Left to pay |
|---|---|---|---|
| 1 | 5,096.20 | 6,918.76 | 194,903.80 |
| 2 | 10,373.66 | 13,656.27 | 189,626.34 |
| 3 | 15,838.82 | 20,206.08 | 184,161.18 |
| 4 | 21,498.36 | 26,561.50 | 178,501.64 |
| 5 | 27,359.19 | 32,715.64 | 172,640.81 |
| 6 | 33,428.48 | 38,661.32 | 166,571.52 |
| 7 | 39,713.63 | 44,391.13 | 160,286.37 |
| 8 | 46,222.32 | 49,897.40 | 153,777.68 |
| 9 | 52,962.51 | 55,172.18 | 147,037.49 |
| 10 | 59,942.43 | 60,207.23 | 140,057.57 |
| 11 | 67,170.60 | 64,994.03 | 132,829.40 |
| 12 | 74,655.85 | 69,523.74 | 125,344.15 |
| 13 | 82,407.33 | 73,787.22 | 117,592.67 |
| 14 | 90,434.51 | 77,775.01 | 109,565.49 |
| 15 | 98,747.20 | 81,477.29 | 101,252.80 |
| 16 | 107,355.53 | 84,883.92 | 92,644.47 |
| 17 | 116,270.04 | 87,984.37 | 83,729.96 |
| 18 | 125,501.62 | 90,767.77 | 74,498.38 |
| 19 | 135,061.53 | 93,222.82 | 64,938.47 |
| 20 | 144,961.46 | 95,337.86 | 55,038.54 |
| 21 | 155,213.50 | 97,100.78 | 44,786.50 |
| 22 | 165,830.17 | 98,499.08 | 34,169.83 |
| 23 | 176,824.44 | 99,519.77 | 23,175.56 |
| 24 | 188,209.75 | 100,149.43 | 11,790.25 |
| 25 | 200,000.00 | 100,374.14 | 0.00 |
How it is calculated
- Amount borrowed = price − down payment.
- Loan payment = P × i ÷ (1 − (1 + i)^−n), where i = rate ÷ 12 and n = number of months.
- Insurance per month = amount borrowed × insurance rate ÷ 12.
- Total cost = interest + insurance + fees.
Example
Home at 250,000, 50,000 down, 3.5% over 25 years: you borrow 200,000 and pay about 1,001.25 a month before insurance.
Good to know
- Fixed rate. Property tax and local aid are not included.
- Insurance is based on the starting amount; some policies go down as the balance falls.
- An estimate: only the bank’s offer counts.
Frequently asked questions
What is this tool used for?
Enter the price, your down payment, the rate and the length. Insurance and fees are shown apart, so you see each cost.
How is the result calculated?
Amount borrowed = price − down payment.
What should I check before using the result?
Fixed rate. Property tax and local aid are not included.