Mortgage payment calculator: the payment is five lines, not one. Form MC-10
The listing says $450,000. The amortization formula says $2,275.44 a month in principal and interest. The number that actually leaves your account is $2,837.94 — because property tax, insurance, and PMI ride along. Seeded below with the worked example; swap in your own numbers and the ledger re-posts instantly.
Tool № 10 · Monday, September 28, 2026 · free, always
$2,275.44 is the loan. $2,837.94 is the house.
Input slip · Form MC-10
Two tabs, one ledger. Affordability solves your income backwards into a max purchase price; Monthly payment prices a specific house down to the dollar. Everything recalculates as you type, and everything stays in your browser — nothing is sent anywhere.
Prefilled at the Freddie Mac 30-year average for the week of Sept 24, 2026 — replace it with your actual quote.
Set to 6.5% for the worked example below (the Freddie Mac 30-year average for the week of Sept 24, 2026 was 7.03%) — replace it with your actual quote.
Posted entry · Form MC-10-R
More doors into the same ledger Form MC-10
Every angle on the mortgage, same arithmetic underneath:
Anatomy of a $2,837.94 payment Form MC-10
Principal and interest: $2,275.44. That’s the $360,000 loan — $450,000 minus 20% down — amortized at 6.5% over 30 years. Fixed means fixed: this line never moves.
Property tax: $412.50 — the 1.1% default on $450,000, divided by 12, collected with the payment into escrow. Insurance: $150.00 — $1,800 a year, same escrow. PMI: $0.00, because 20% down clears the line. Total: $2,837.94 a month.
Over the life of the loan that’s $459,160.16 in interest on top of the $360,000 borrowed — $819,160.16 all in. The year-by-year ledger below shows exactly when the balance starts falling faster than the interest accrues. (Hint: not soon.)
Common questions Form MC-10
What does PITI stand for?
Principal, interest, taxes, and insurance — the four standard lines of a mortgage payment. This page adds PMI and HOA as further lines where they apply.
Why is my payment higher than principal and interest?
Escrow. Lenders collect property tax and insurance with the payment and pay the bills for you, so the monthly number includes them. The listing-price math never does.
How is PMI figured here?
0.5% a year on the loan amount, charged monthly, while the loan balance sits above 80% of the price. It drops automatically in the ledger the month the balance crosses below that line.
What changes if I put less than 20% down?
Two things at once: the loan gets bigger, which raises principal and interest, and PMI appears. On a $400,000 price with 10% down that’s $150 a month in PMI until payment 95.
Does the HOA payment count?
Yes — typed separately and added straight to the monthly total. Lenders count it in the 28% ratio too.
Is this financial advice?
No. It’s amortization arithmetic on numbers you type: it doesn’t check your credit, approve loans, or know your local tax rate. A lender’s pre-approval and your own budget have the final word.