🏠 Smart Mortgage Calculator
Plan your home financing with precision and clarity
Loan Details
Home Price
$400,000
Down Payment
$80,000 (20%)
Interest Rate
6.5%
Loan Term
30 years
Property Tax (Annual)
$4,800
Home Insurance (Annual)
$1,500
HOA Fees (Monthly)
$200
Your Monthly Payment
Total Monthly Payment
$2,419
Principal & Interest
$2,020
Property Tax
$400
Home Insurance
$125
HOA Fees
$200
Loan Amount
$320,000
Total Interest
$407,120
Total Cost
$870,840
Principal & Interest
66%
Property Tax
17%
Insurance
5%
HOA
12%
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|
Smart Insights
PMI Status
Great! With 20% down payment, you avoid PMI.
Extra Payments Impact
Paying $200 extra monthly could save $89,420 in interest and 6 years.
Affordability
Based on 28% rule, you need ~$103,500 annual income for this home.