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Estimate a realistic monthly home payment, including the loan, property tax, and insurance.
Last reviewed by FinSync LLC
Heavy payment
$400K · 20% down · 6.5% · 30yr
Monthly payment breakdown
Monthly
$2,523
Principal vs. interest by year
30-year term
Hover a bar to see the year breakdown
Principal
Interest
Equity
Upfront cash
$80K
+ $8,000.00–$16K closing costs
Lifetime interest
$408.1K
102% of the home price
Total cost
$988.1K
over 30 years, all in
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
Calculators are useful for scenarios. BetterOff connects supported accounts so you can compare those assumptions with synced balances and transactions.
Connect a supported bank, brokerage, or exchange. Connections are read-only, encrypted, and cannot move money.
Use this if you want to understand how the calculator works, not just plug in numbers.
Step 1
Provide home price, down payment percentage, loan term, and interest rate.
Step 2
Include annual property tax and insurance estimates.
Step 3
Review monthly PITI, total interest, and yearly amortization summary.
These cover the assumptions, tradeoffs, and edge cases behind the calculator.
Use the calculator for the math, then use these guides to make the decision with more confidence.
Reviewed by FinSync LLC