Mortgage Calculator
Estimate your monthly payments, total interest, and view a detailed amortization schedule visualized by charts.
Monthly Payment
| Principal & Interest | |
| Property Tax | |
| Home Insurance | |
| PMI | |
| HOA Fees | |
| Other Costs | |
| Total Monthly Out-of-Pocket |
House Price:
Loan Amount:
Down Payment:
Total Interest:
Payoff Date:
Payment Breakdown
Amortization Overview
Amortization Schedule
| Year | Date | Interest | Principal | Ending Balance |
|---|
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your monthly mortgage payments and understand your long-term costs when buying a home. Enter your home price, down payment, interest rate, and loan term, and the calculator factors in property tax, insurance, PMI, and other fees to generate a monthly payment plan and a detailed amortization schedule.
How Monthly Mortgage Payments are Calculated
- Principal & Interest: Amount borrowed and interest charged on the loan
- Property Tax: Based on percentage of home value, paid annually
- Home Insurance: Typically required by lenders to protect the home
- PMI: Private Mortgage Insurance for down payment less than 20%
- HOA & Other Costs: Maintenance, community, and additional fees
Tips for Faster Mortgage Payoff
- Consider making bi-weekly or extra payments toward principal
- Refinance to a shorter-term loan if interest rates drop
- Pay attention to PMI removal eligibility to save on insurance premiums
For more information, consult with a mortgage professional or financial advisor before making final decisions.