Resources · Payment math
What a Miami home really costs per month.
Principal and interest, property tax, insurance, HOA and PMI, in one number at this week's rate. Then the part most calculators skip: how much of the loan is interest, and how the balance comes down year by year.
Freddie Mac PMMS via FRED · as of Oct 8, 2026
Payment calculator
Your payment, the whole thing.
Your numbers
Change anything. The payment updates as you type.
Today's averages: 7.40% 30-year 6.73% 15-year (Freddie Mac, Oct 8, 2026)
at today's 30-year average (7.40%)
- Loan amount
- $600,000
- Down payment
- $150,000 · 20%
- Total interest over the term
- $895,540
- Total of payments
- $1,495,540
Of the first $4,154 loan payment, $3,700 is interest and $454 pays down the balance.
See how the balance comes down →Estimate only, not a loan offer or financial advice. Actual figures depend on your lender, credit, taxes and insurance. PMI is auto-estimated at 0.6%/yr of the loan when your down payment is under 20%.
Balance and interest, year by year
The same loan, drawn out to the last payment. Drag the year to see where you stand.
Show the yearly table
| Year | Balance left | Principal paid | Interest paid |
|---|
- Principal paid
- $80,381
- Interest paid
- $418,135
- Your equity
- $230,381incl. down payment
- Interest share of payments so far
- Total interest over the term
- $895,540
- Total of payments
- $1,495,540
- Last payment
- Oct 2056
The curve uses the standard amortization formula for the rate and term entered, with the first payment next month and no extra payments. Taxes, insurance and HOA are not part of the loan balance.
How this is calculated. Principal & interest use the standard amortization formula for the term and rate you enter. Property tax is estimated as a percentage of the purchase price (Miami-Dade's effective rate is roughly 1%), and homeowners insurance and HOA are added as you enter them. Florida insurance costs vary widely, so confirm real quotes with your lender and insurer before relying on these numbers.
Before you buy
Three things this tool can't tell you.
Your real rate
The rate you'll actually get depends on your credit, down payment and loan type. A quick pre-approval gives you a real number to plug in here.
Get pre-approval help → Cash to closeClosing costs
Budget roughly 2–5% of the price for closing: title, taxes, inspections and lender fees. I'll walk you through exactly what to expect.
Estimate your cash to close → PriceWhether it's a good deal
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How I buy with you →
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