{"tool":{"slug":"mortgage-payment","name":"Mortgage payment calculator","version":"2026-08-21","canonicalUrl":"https://carlo.finance/tools/mortgage-payment?down=45000","jsonUrl":"https://carlo.finance/tools/mortgage-payment.json?down=45000","pageUrl":"https://carlo.finance/tools/mortgage-payment","parameters":[{"key":"price","label":"Home price","unit":"usd","min":0,"max":100000000,"default":400000,"sourceId":null,"help":"The purchase price. The default is an example, not a statistic."},{"key":"down","label":"Down payment","unit":"usd","min":0,"max":100000000,"default":80000,"sourceId":null,"help":"Cash toward the price. Under 20% of the price adds private mortgage insurance."},{"key":"rate","label":"Mortgage rate","unit":"percent","min":0,"max":30,"default":6.65,"sourceId":"pmms","help":"Annual interest rate on the loan."},{"key":"term","label":"Loan term","unit":"years","min":1,"max":40,"default":30,"sourceId":null,"integer":true,"help":"Years to repay. 30 and 15 are the common choices."},{"key":"taxRate","label":"Property tax rate","unit":"percent","min":0,"max":10,"default":0.888,"sourceId":"property-tax","help":"Annual property tax as a percent of the home's value."},{"key":"insurance","label":"Homeowners insurance","unit":"usd","min":0,"max":1000000,"default":1600,"sourceId":"insurance","help":"Annual premium."},{"key":"hoa","label":"HOA dues","unit":"usd-per-month","min":0,"max":100000,"default":0,"sourceId":null,"help":"Monthly association dues, if any."},{"key":"pmiRate","label":"PMI rate","unit":"percent","min":0,"max":5,"default":0.6,"sourceId":"pmi","help":"Annual private mortgage insurance as a percent of the loan. Charged only while the down payment is under 20% of the price, and modeled to end when the scheduled balance reaches 78% of the price. Default is the middle of Freddie Mac's published range."},{"key":"extra","label":"Extra principal each month","unit":"usd-per-month","min":0,"max":10000000,"default":0,"sourceId":null,"help":"Optional. Paid on top of the regular payment every month; shortens the loan instead of lowering the payment."}]},"inputs":{"price":400000,"down":45000,"rate":6.65,"term":30,"taxRate":0.888,"insurance":1600,"hoa":0,"pmiRate":0.6,"extra":0},"result":{"loanAmount":355000,"downPayment":45000,"ltv":0.8875,"monthly":{"principalAndInterest":2278.98,"propertyTax":296,"insurance":133.33,"pmi":177.5,"hoa":0,"extra":0,"total":2885.81},"monthlyAfterPmi":2708.31,"pmiApplies":true,"pmiEndsMonth":103,"pmiTotal":18283,"months":360,"totalInterest":465431,"totalPrincipalAndInterest":820431,"totalCost":993274,"baseline":{"months":360,"totalInterest":465431},"interestSaved":0,"monthsSaved":0,"yearly":[{"year":1,"paid":27347.7,"interest":23491.37,"principal":3856.33,"balance":351143.67},{"year":2,"paid":27347.7,"interest":23226.96,"principal":4120.74,"balance":347022.92},{"year":3,"paid":27347.7,"interest":22944.42,"principal":4403.28,"balance":342619.64},{"year":4,"paid":27347.7,"interest":22642.51,"principal":4705.19,"balance":337914.45},{"year":5,"paid":27347.7,"interest":22319.9,"principal":5027.8,"balance":332886.65},{"year":6,"paid":27347.7,"interest":21975.17,"principal":5372.53,"balance":327514.12},{"year":7,"paid":27347.7,"interest":21606.81,"principal":5740.9,"balance":321773.22},{"year":8,"paid":27347.7,"interest":21213.18,"principal":6134.52,"balance":315638.7},{"year":9,"paid":27347.7,"interest":20792.57,"principal":6555.13,"balance":309083.57},{"year":10,"paid":27347.7,"interest":20343.12,"principal":7004.58,"balance":302078.99},{"year":11,"paid":27347.7,"interest":19862.85,"principal":7484.85,"balance":294594.13},{"year":12,"paid":27347.7,"interest":19349.65,"principal":7998.05,"balance":286596.08},{"year":13,"paid":27347.7,"interest":18801.27,"principal":8546.43,"balance":278049.65},{"year":14,"paid":27347.7,"interest":18215.29,"principal":9132.42,"balance":268917.23},{"year":15,"paid":27347.7,"interest":17589.12,"principal":9758.58,"balance":259158.65},{"year":16,"paid":27347.7,"interest":16920.03,"principal":10427.67,"balance":248730.98},{"year":17,"paid":27347.7,"interest":16205.06,"principal":11142.65,"balance":237588.33},{"year":18,"paid":27347.7,"interest":15441.06,"principal":11906.64,"balance":225681.7},{"year":19,"paid":27347.7,"interest":14624.69,"principal":12723.01,"balance":212958.68},{"year":20,"paid":27347.7,"interest":13752.34,"principal":13595.37,"balance":199363.31},{"year":21,"paid":27347.7,"interest":12820.17,"principal":14527.53,"balance":184835.79},{"year":22,"paid":27347.7,"interest":11824.1,"principal":15523.61,"balance":169312.18},{"year":23,"paid":27347.7,"interest":10759.73,"principal":16587.98,"balance":152724.2},{"year":24,"paid":27347.7,"interest":9622.37,"principal":17725.33,"balance":134998.87},{"year":25,"paid":27347.7,"interest":8407.04,"principal":18940.66,"balance":116058.21},{"year":26,"paid":27347.7,"interest":7108.38,"principal":20239.32,"balance":95818.89},{"year":27,"paid":27347.7,"interest":5720.67,"principal":21627.03,"balance":74191.86},{"year":28,"paid":27347.7,"interest":4237.82,"principal":23109.88,"balance":51081.98},{"year":29,"paid":27347.7,"interest":2653.3,"principal":24694.41,"balance":26387.57},{"year":30,"paid":27347.7,"interest":960.13,"principal":26387.57,"balance":0}]},"drivers":[{"key":"taxRate","label":"Property tax rate","step":0.25,"monthlyDelta":83.32999999999993,"interestDelta":0,"sentence":"Each 0.25 point of property tax adds $83 to the monthly payment."},{"key":"price","label":"Home price","step":10000,"monthlyDelta":76.59999999999991,"interestDelta":13111,"sentence":"Each $10,000 of price adds $77 to the monthly payment and adds $13,111 of interest over the loan."},{"key":"down","label":"Down payment","step":10000,"monthlyDelta":-69.19999999999982,"interestDelta":-13111,"sentence":"Each $10,000 of down payment takes $69 off the monthly payment and saves $13,111 of interest over the loan."},{"key":"rate","label":"Mortgage rate","step":0.25,"monthlyDelta":59.05000000000018,"interestDelta":21260,"sentence":"Each 0.25 point on the rate adds $59 to the monthly payment and adds $21,260 of interest over the loan."},{"key":"extra","label":"Extra principal","step":100,"monthlyDelta":100,"interestDelta":-65299,"sentence":"Each $100 of extra principal a month pays the loan off 42 months sooner and saves $65,299 of interest."}],"sensitivity":{"byRate":[{"rate":5.65,"monthlyTotal":2656.02,"totalInterest":382707},{"rate":6.15,"monthlyTotal":2769.59,"totalInterest":423594},{"rate":6.65,"monthlyTotal":2885.81,"totalInterest":465431},{"rate":7.15,"monthlyTotal":3004.53,"totalInterest":508170},{"rate":7.65,"monthlyTotal":3125.61,"totalInterest":551759}],"byTerm":[{"term":15,"monthlyTotal":3728.61,"totalInterest":206920},{"term":20,"monthlyTotal":3285.06,"totalInterest":287775},{"term":30,"monthlyTotal":2885.81,"totalInterest":465431}],"byExtra":[{"extra":0,"months":360,"totalInterest":465431},{"extra":100,"months":318,"totalInterest":400132},{"extra":250,"months":273,"totalInterest":333550},{"extra":500,"months":223,"totalInterest":263882},{"extra":1000,"months":166,"totalInterest":188625}]},"assumptions":[{"key":"price","label":"Home price","value":400000,"unit":"usd","provided":false,"source":null},{"key":"down","label":"Down payment","value":45000,"unit":"usd","provided":true,"source":null},{"key":"rate","label":"Mortgage rate","value":6.65,"unit":"percent","provided":false,"source":{"id":"pmms","name":"Freddie Mac Primary Mortgage Market Survey","url":"https://www.freddiemac.com/pmms","asOf":"2026-08-20","note":"30-year fixed-rate mortgage average 6.65%; 15-year 5.95%."}},{"key":"term","label":"Loan term","value":30,"unit":"years","provided":false,"source":null},{"key":"taxRate","label":"Property tax rate","value":0.888,"unit":"percent","provided":false,"source":{"id":"property-tax","name":"NAHB Eye On Housing, Property Taxes by State, 2024 (American Community Survey)","url":"https://eyeonhousing.org/2025/11/property-taxes-by-state-2024/","asOf":"2025-11-26","note":"National effective property tax rate $8.88 per $1,000 of home value (0.888%)."}},{"key":"insurance","label":"Homeowners insurance","value":1600,"unit":"usd","provided":false,"source":{"id":"insurance","name":"NAIC, Examining Homeowner Property Insurance Market Dynamics, 2018 to 2024","url":"https://content.naic.org/sites/default/files/mcas-homeowners-property-insurance-market-dynamics-report.pdf","asOf":"2026-07-31","note":"2024 average homeowners premium per policy: $1,600 countrywide."}},{"key":"hoa","label":"HOA dues","value":0,"unit":"usd-per-month","provided":false,"source":null},{"key":"pmiRate","label":"PMI rate","value":0.6,"unit":"percent","provided":false,"source":{"id":"pmi","name":"Freddie Mac, Breaking down PMI","url":"https://myhome.freddiemac.com/buying/breaking-down-pmi","asOf":"2026-08-21","note":"Private mortgage insurance typically costs $30 to $70 per month for every $100,000 borrowed (0.36% to 0.84% of the loan per year). Required on conventional loans with less than 20% down."}},{"key":"extra","label":"Extra principal each month","value":0,"unit":"usd-per-month","provided":false,"source":null}],"sources":[{"id":"pmms","name":"Freddie Mac Primary Mortgage Market Survey","url":"https://www.freddiemac.com/pmms","asOf":"2026-08-20","note":"30-year fixed-rate mortgage average 6.65%; 15-year 5.95%."},{"id":"property-tax","name":"NAHB Eye On Housing, Property Taxes by State, 2024 (American Community Survey)","url":"https://eyeonhousing.org/2025/11/property-taxes-by-state-2024/","asOf":"2025-11-26","note":"National effective property tax rate $8.88 per $1,000 of home value (0.888%)."},{"id":"insurance","name":"NAIC, Examining Homeowner Property Insurance Market Dynamics, 2018 to 2024","url":"https://content.naic.org/sites/default/files/mcas-homeowners-property-insurance-market-dynamics-report.pdf","asOf":"2026-07-31","note":"2024 average homeowners premium per policy: $1,600 countrywide."},{"id":"pmi","name":"Freddie Mac, Breaking down PMI","url":"https://myhome.freddiemac.com/buying/breaking-down-pmi","asOf":"2026-08-21","note":"Private mortgage insurance typically costs $30 to $70 per month for every $100,000 borrowed (0.36% to 0.84% of the loan per year). Required on conventional loans with less than 20% down."},{"id":"hpa","name":"CFPB, When can I remove private mortgage insurance (PMI) from my loan?","url":"https://www.consumerfinance.gov/ask-cfpb/when-can-i-remove-private-mortgage-insurance-pmi-from-my-loan-en-202/","asOf":"2023-08-28","note":"Under the Homeowners Protection Act a servicer must automatically terminate PMI on the date the principal balance is scheduled to reach 78% of the home's original value; the borrower may request cancellation at 80%."}],"warnings":[{"code":"pmi","message":"The down payment is 11.3% of the price, under 20%, so private mortgage insurance of $178 a month is included until month 103, when the scheduled balance reaches 78% of the price."}],"disclaimer":"This models a fixed-rate mortgage with published defaults for rate, tax, insurance, and mortgage insurance. It is not a rate quote, a loan estimate, or financial advice. Your lender's Loan Estimate is the figure that counts."}