Mortgage Calculator

The home price minus your 20% down payment ($80,000.00) leaves a $320,000.00 loan, amortized over 30 years at 6% — the same fixed-payment math as any other loan (see Amortization):

First payment:  $1,600.00 interest + $318.56 principal
Last payment:   $9.55 interest + $1,909.02 principal
Total interest over the loan: $370,682.20

Escrowis a reserve account many lenders collect into every month, alongside your principal and interest, so they can pay your property tax and homeowners insurance bills on your behalf when they come due — instead of you having to pay those large annual bills yourself in one lump sum. It's not part of the loan itself, but it's typically bundled into the single monthly payment you actually send.