Mortgage Calculator

The payment comes from the standard annuity formula: the same amount every month, but the makeup of that payment shifts over time. Early on, most of it goes to interest; as the years pass, more and more goes to principal.

The amortization table shows that split month by month. The principal column adds up to exactly the loan amount — we do the math in cents rather than rounded decimals so the column matches the figure at the top.

Property tax, insurance, and other expenses aren't part of the loan itself, but they are part of what you pay every month. That's why the headline figure here is the total household cost, not just the bank's payment — the gap between the two is where budgets break.