Mortgage Calculator
Worked example result
| Loan amount | $300,000 |
| Monthly payment (principal & interest) | $1,798.65 |
| Monthly tax, insurance & HOA | $0.00 |
| Total monthly payment | $1,798.65 |
| Total interest over the term | $347,515 |
| Total cost (down payment + all payments) | $722,515 |
| Balance remaining by year | Year 5: $279,163 · Year 10: $251,057 · Year 15: $213,147 · Year 20: $162,011 · Year 25: $93,036 · Year 30: $0 |
| Extra payment scenarios | Pay $100/mo extra → save $53,346 interest and finish 47 months early · Pay $200/mo extra → save $91,173 interest and finish 81 months early |
A $375,000 home with 20% down at 6% for 30 years costs $1,798.65 per month in principal and interest — $347,515 of interest over the life of the loan.
M = P · r(1+r)^n / ((1+r)^n − 1), where r = annual rate ÷ 12 and n = years × 12 · Powered by CalcHub — Mortgage Calculator