Madison Mortgage Calculator
Estimate your monthly mortgage payment in Madison, WI. On the local median home value of $415,000 — with a 20% down payment at today's rates — expect a total monthly payment (principal, interest, taxes, and insurance) of about $2,830. Adjust every input for your situation.
Monthly Breakdown
- Principal & Interest$2,098
- Property Tax$640
- Home Insurance$92
Amortization Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $25,182 | $3,711 | $21,471 | $328,289 |
| 2 | $25,182 | $3,959 | $21,222 | $324,330 |
| 3 | $25,182 | $4,225 | $20,957 | $320,105 |
| 4 | $25,182 | $4,507 | $20,674 | $315,598 |
| 5 | $25,182 | $4,809 | $20,372 | $310,788 |
| 6 | $25,182 | $5,131 | $20,050 | $305,657 |
| 7 | $25,182 | $5,475 | $19,707 | $300,182 |
| 8 | $25,182 | $5,842 | $19,340 | $294,340 |
| 9 | $25,182 | $6,233 | $18,949 | $288,107 |
| 10 | $25,182 | $6,650 | $18,531 | $281,457 |
| 11 | $25,182 | $7,096 | $18,086 | $274,361 |
| 12 | $25,182 | $7,571 | $17,611 | $266,790 |
| 13 | $25,182 | $8,078 | $17,103 | $258,712 |
| 14 | $25,182 | $8,619 | $16,562 | $250,093 |
| 15 | $25,182 | $9,196 | $15,985 | $240,896 |
| 16 | $25,182 | $9,812 | $15,369 | $231,084 |
| 17 | $25,182 | $10,469 | $14,712 | $220,615 |
| 18 | $25,182 | $11,171 | $14,011 | $209,444 |
| 19 | $25,182 | $11,919 | $13,263 | $197,526 |
| 20 | $25,182 | $12,717 | $12,465 | $184,809 |
| 21 | $25,182 | $13,569 | $11,613 | $171,240 |
| 22 | $25,182 | $14,477 | $10,704 | $156,763 |
| 23 | $25,182 | $15,447 | $9,735 | $141,316 |
| 24 | $25,182 | $16,481 | $8,700 | $124,835 |
| 25 | $25,182 | $17,585 | $7,597 | $107,250 |
| 26 | $25,182 | $18,763 | $6,419 | $88,487 |
| 27 | $25,182 | $20,019 | $5,162 | $68,468 |
| 28 | $25,182 | $21,360 | $3,821 | $47,108 |
| 29 | $25,182 | $22,791 | $2,391 | $24,317 |
| 30 | $25,182 | $24,317 | $865 | $0 |
Swipe the table sideways to see all columns →
How to use this calculator
The Home Price field is pre-filled with the median home value in Madison (about $415,000). Override with your target home's actual price to get a payment estimate for that specific property.
The Property Tax Rate is pre-filled with Wisconsin's average effective rate of 1.85%. Within Wisconsin, rates vary by county — if you know your specific local rate, override it for a more precise estimate.
Adjust the Down Payment slider to see how your payment changes. Below 20% down triggers PMI; the calculator adds it automatically and shows a warning.
Scroll down for the full PITI breakdown, monthly payment pie chart, and complete month-by-month amortization schedule.
How it works
Buying a median-priced home in Madison. At $415,000 with a 20% down payment, you'd bring $83,000 to closing (plus closing costs) and take out a $332,000 mortgage. At a 6.50% interest rate on a 30-year fixed loan, your monthly principal + interest is roughly $2,098.
Annual costs on top of the loan. Wisconsin's average property tax rate is 1.85%, so a median-priced Madison home generates approximately $7,678 in annual property tax (about $640/mo when paid through escrow). Homeowner's insurance in Wisconsin averages around $1,100/year.
Total monthly payment (PITI) on the median Madison home works out to about $2,830 per month at current rates, assuming a 20% down payment and no HOA. If you're putting less than 20% down, add PMI to this — typically 0.5–1.5% of the loan balance per year.
Rates change; this is the math, not the offer. Mortgage rates fluctuate daily. Our default of 6.50% is a recent conventional 30-year benchmark — enter today's quoted rate from your lender for the most accurate payment estimate.
Frequently Asked Questions
Looking for a different city? Browse all cities. For Wisconsin-specific property taxes, see the Wisconsin Property Tax Calculator.