Loan Details
$
$
%
Loan Amount$320,000
%
Estimated Monthly Payment
$2,652.17
Payment Distribution
Monthly Breakdown
Principal & Interest
$2,102.17Property Tax
$400.00Insurance
$150.00Total$2,652.17
Mortgage Calculator
Mortgage Calculator
Monthly Payment
$2,652.17
$
$
%
Loan Amount$320,000
%
Ready for Complete Automation?
Calculate your mortgage payments, view amortization schedules, and see how extra payments can save you thousands. Ready for complete automation? Try FourCasa for AI-powered bookkeeping.
Learn More About FourCasaFrequently Asked Questions
What is the Mortgage Calculator?
The FourCasa Mortgage Calculator is a free online tool that helps you estimate your monthly mortgage payment based on the home price, down payment, interest rate, and loan term. It provides a detailed breakdown of principal, interest, taxes, insurance, and PMI, plus generates a complete amortization schedule showing how your payments reduce the loan balance over time.
What is PMI and when do I need to pay it?
Private Mortgage Insurance (PMI) is insurance that protects the lender if you stop making payments on your loan. It's typically required when your down payment is less than 20% of the home price (when your loan-to-value ratio is above 80%). PMI is automatically dropped once your loan-to-value ratio reaches 80%. Our calculator shows exactly how much PMI adds to your monthly payment and when it will be removed.
How can extra payments save me money?
Making extra payments toward your mortgage principal can significantly reduce the total interest you pay over the life of the loan and shorten your repayment period. Our calculator shows you exactly how much interest you'll save and how many years you can shave off your mortgage by adding extra monthly payments. Even small additional payments can add up to thousands of dollars in savings.
What is an amortization schedule?
An amortization schedule is a complete table showing every payment over the life of your loan. Each row shows how your payment is split between principal (the amount you borrowed) and interest (the cost of borrowing). In the early years, more of your payment goes toward interest, but as the loan balance decreases, more goes toward principal. Our calculator generates a month-by-month amortization schedule you can view and export.
What loan term should I choose: 15 or 30 years?
A 30-year mortgage has lower monthly payments but you'll pay more interest over the life of the loan. A 15-year mortgage has higher monthly payments but significantly lower total interest costs. Use our calculator to compare different loan terms and see how they affect your monthly payment and total interest paid. The right choice depends on your budget and financial goals.