Mortgage Calculator
Calculate monthly payments, compare loan scenarios, and plan your home purchase with detailed amortization schedules.
Purchase Details
20.0% of home price
Additional Costs (Annual)
Monthly Payment
$2,522.618
Loan Amount
$320,000
Total Interest
$408,142.363
Total Cost
$988,142.363
Principal & Interest
Loan payment
$2,022.618
Property Tax
$4,800/year
$400
Home Insurance
$1,200/year
$100
Recommended Income
$108,112.186/year
Based on 28% rule
Down Payment
20.0%
$80,000
| Scenario | Down Payment | Monthly Payment | Total Interest | Savings |
|---|---|---|---|---|
| Current Scenario | $80,000 | $2,522.618 | $408,142.363 | - |
| 20% Down Payment | $80,000 | $2,522.618 | $408,142.363 | $0 |
| 15-Year Term | $80,000 | $3,287.544 | $181,757.842 | $226,384.521 |
| Rate 1% Lower | $80,000 | $2,316.925 | $334,092.93 | $74,049.434 |
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,022.618 | $289.284 | $1,733.333 | $319,710.716 |
| 2 | $2,022.618 | $290.851 | $1,731.766 | $319,419.864 |
| 3 | $2,022.618 | $292.427 | $1,730.191 | $319,127.438 |
| 4 | $2,022.618 | $294.011 | $1,728.607 | $318,833.427 |
| 5 | $2,022.618 | $295.603 | $1,727.014 | $318,537.824 |
| 6 | $2,022.618 | $297.204 | $1,725.413 | $318,240.619 |
| 7 | $2,022.618 | $298.814 | $1,723.803 | $317,941.805 |
| 8 | $2,022.618 | $300.433 | $1,722.185 | $317,641.372 |
| 9 | $2,022.618 | $302.06 | $1,720.557 | $317,339.312 |
| 10 | $2,022.618 | $303.696 | $1,718.921 | $317,035.615 |
| 11 | $2,022.618 | $305.341 | $1,717.276 | $316,730.274 |
| 12 | $2,022.618 | $306.995 | $1,715.622 | $316,423.278 |
Year 1 Principal
$3,576.722
Year 1 Interest
$20,694.691
Remaining Balance
$316,423.278
Mortgage Analysis & Recommendations
- • Your $2,522.618 monthly payment requires $108,112.186 annual income (28% rule)
- • 20.0% down payment avoids PMI requirements
- • Over 30 years, you'll pay $408,142.363 in interest ($128% of loan amount)
- • A 15-year loan would save $226,384.521 in interest but increase monthly payment by $764.926
- • Lowering your rate by 1% would save $74,049.434 over the loan term
- • First year: $3,576.722 goes to principal, $20,694.691 to interest
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How Sarah handles your calls
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— Maria Santos, Real Estate Agent
Property Business Growth
This month's performance
+23%
lead capture improvement
Monthly Impact
Additional Income
From captured leads
$3,783.927
this month
Mortgage Coverage
Payment security
150%
of monthly payment
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