Loan & Mortgage Payment
Monthly P&I payment, total interest & loan balance amortization.
Shows principal + interest only. Property tax & insurance vary by location.
Monthly Payment (P&I)
$2,528 USD
Balance over the loan term
Loan Amount
$400,000
Total Interest
$510,000
Total Paid
$910,000
Down Payment
$100,000
Paying an extra $250/mo could shave years off a 30-year mortgage.
Did you know?
The 30-year fixed mortgage was invented in 1934 by the FHA — before that, home loans typically lasted just 5 years with a giant balloon payment.
Formula
M = P × r(1+r)ⁿ / ((1+r)ⁿ−1) · r = annual rate ÷ 12
FAQs
Should I pay extra?
Extra principal payments reduce total interest dramatically. A few hundred extra per month can save 5+ years on a 30-year loan at 6.5%.