Mortgage Calculator
Calculate your full monthly mortgage payment including principal, interest, taxes, insurance, and PMI. View the complete amortization schedule.
Calculate Your Payment
Total Monthly Payment
$2,262.85
Amortization Schedule
Loan: $280,000 • Total Interest: $390,625 • Total Paid: $670,625
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $22,354.16 | $2,844.27 | $19,509.90 | $277,156 |
| Year 2 | $22,354.16 | $3,049.88 | $19,304.28 | $274,106 |
| Year 3 | $22,354.16 | $3,270.36 | $19,083.81 | $270,835 |
| Year 4 | $22,354.16 | $3,506.77 | $18,847.39 | $267,329 |
| Year 5 | $22,354.16 | $3,760.27 | $18,593.89 | $263,568 |
| Year 6 | $22,354.16 | $4,032.11 | $18,322.06 | $259,536 |
| Year 7 | $22,354.16 | $4,323.59 | $18,030.58 | $255,213 |
| Year 8 | $22,354.16 | $4,636.14 | $17,718.02 | $250,577 |
| Year 9 | $22,354.16 | $4,971.29 | $17,382.88 | $245,605 |
| Year 10 | $22,354.16 | $5,330.66 | $17,023.50 | $240,275 |
What Is a Mortgage Calculator and How Does It Work?
A mortgage calculator is an essential tool for any real estate investor or homebuyer. It takes your loan details — purchase price, down payment, interest rate, and loan term — and calculates your monthly principal and interest (P&I) payment using the standard amortization formula. For rental property investors, understanding your mortgage payment is the foundation of every cash flow analysis.
The monthly P&I payment is determined by three variables: your loan amount (purchase price minus down payment), your interest rate, and your loan term. A higher down payment reduces your loan balance and monthly payment, but also increases the cash you need upfront. A longer loan term (30 years vs. 15 years) lowers your monthly payment and improves cash flow, but results in significantly more total interest paid over the life of the loan.
For a complete picture of your monthly housing cost, this calculator also includes property taxes, homeowner's insurance, and PMI (Private Mortgage Insurance). Together, these four components — principal, interest, taxes, and insurance — are referred to as PITI, which is how lenders evaluate your ability to service the debt.
The amortization schedule below the calculator shows how each payment is split between principal and interest over the life of the loan. In the early years, the vast majority of each payment goes toward interest. Over time, the balance shifts toward principal as your loan balance decreases. This is why real estate investors often refinance after a few years — to reset the amortization clock, pull out equity, or lower their rate.
For rental property analysis, your mortgage payment is just one piece of the puzzle. Use the Rental Property Deal Analyzer to combine your mortgage with rental income, operating expenses, and key metrics like cap rate, cash-on-cash return, and DSCR to evaluate the full investment.
Frequently Asked Questions
Ready for the complete picture?
The Rental Property Deal Analyzer combines every metric — cash flow, cap rate, DSCR, deal risk score, exit projections, and tax benefits — in one tool.
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