What goes into a mortgage payment?
A monthly mortgage payment is often called PITI: Principal, Interest, Taxes and Insurance. The principal and interest repay the loan itself, while property tax and home insurance are usually collected monthly and held in escrow.
How your down payment changes things
A bigger down payment means a smaller loan, a lower monthly payment, and less total interest. In many countries, putting down 20% or more also lets you avoid mortgage insurance. Try the down payment slider to see the effect instantly.
Why is so much of my early payment interest?
Mortgages are "front-loaded" — early payments are mostly interest, and more goes to principal over time. Extra payments early save the most.
Is this exact?
It's a close estimate. Your real payment may include HOA fees, PMI, or points, which vary by lender and location.