Calculate your exact monthly payment, total interest and amortisation. Supports 15, 20 and 30-year fixed rates.
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Monthly payment
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incl. tax & insurance
Principal & interest
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Total interest paid
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Total cost
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Loan amount
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Interest % of total
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Frequently asked questions
What is the monthly payment on a $400,000 mortgage?
At 6.46% with 20% down on a $400,000 home, expect approximately $2,019/month in principal and interest on a 30-year loan, plus property tax and insurance.
How much income do I need for a $400,000 mortgage?
Using the 28% rule, you need at least $86,500/year gross income. Your total monthly housing cost should not exceed 28% of gross monthly income.
What is PMI and when do I pay it?
Private Mortgage Insurance is required when you put less than 20% down. It typically costs 0.5-1% of the loan annually and cancels automatically when you reach 20% equity.
Is it better to get a 15 or 30 year mortgage?
A 15-year mortgage saves significantly in total interest but has 40-50% higher monthly payments. A 30-year is more affordable monthly. Choose based on your cash flow and how long you plan to stay.