Mortgage Calculator
Free mortgage calculator with taxes, insurance, PMI, and HOA included. See your full monthly payment, complete amortization schedule, total interest, and extra payment savings instantly.
Example Scenarios
Starter Home
$300k • 10% down • 30yr • 7%
Standard (20% Down)
$450k • 20% down • 30yr • 6.5%
15-Year Fixed
$400k • 20% down • 15yr • 6%
Jumbo Loan
$800k • 20% down • 30yr • 6.75%
Loan Details View Results
Your Payment Breakdown
| Property tax /mo | $0 |
| Home insurance /mo | $0 |
| PMI /mo | $0 |
| HOA /mo | $0 |
Balance & Interest Over Time
What If I Pay Extra Each Month?
| Extra / mo | Payoff time | Total interest | Interest saved |
|---|
Amortization Schedule
| # | Date | Principal | Interest | Balance | Cum. Interest |
|---|
How This Is Calculated
Principal & interest use the standard amortization formula M = P · r(1+r)ⁿ / ((1+r)ⁿ − 1), with your own numbers plugged in:
Everything behind the Mortgage Calculator
Formulas, reference charts, and detailed answers — expand any section you need.
How Much House Can I Afford?
Lenders commonly use the 28/36 rule: housing costs at or under 28% of gross monthly income, and total debt at or under 36%. Working backward from income gives a realistic price range before you shop, and the mortgage calculator confirms the monthly payment for any price in that range.
| Gross Annual Income | Target Monthly Housing (28%) | Approx. Price Range (7%, 20% down) |
|---|---|---|
| $75,000 | $1,750 | $220,000 to $260,000 |
| $100,000 | $2,333 | $300,000 to $350,000 |
| $150,000 | $3,500 | $450,000 to $520,000 |
Ranges are planning estimates and shift with rates, taxes, and insurance in your area.
15 Year vs. 30 Year Mortgage Calculator Comparison
A 15 year mortgage has a higher monthly payment but a lower rate and dramatically less total interest. A 30 year mortgage costs less per month but often more than doubles the interest paid. The comparison mode in this mortgage calculator shows both terms side by side with your exact numbers, no re-entering required.
| Term | Monthly P&I ($300k at 7% / 6.4%) | Total Interest |
|---|---|---|
| 30 year at 7% | $1,996 | ~$418,000 |
| 15 year at 6.4% | $2,597 | ~$167,000 |
Mortgage Calculator: How Much Is My Monthly Payment?
This mortgage calculator shows your true monthly payment, not just principal and interest. A real mortgage payment has up to six parts: principal, interest, property tax, home insurance, PMI, and HOA fees, together called PITI. Most mortgage calculators only show the first two, which understates the true payment by hundreds of dollars for most buyers. Enter your home price, down payment, rate, and term, then add your annual property tax and insurance, and the mortgage calculator displays the payment you'll actually make each month.
Example: A $400,000 home with 10% down at 7% for 30 years has a principal and interest payment of about $2,395, but the full PITI payment is roughly $3,100 once typical taxes, insurance, and PMI are included.
How Is a Mortgage Payment Calculated?
The principal and interest portion of a mortgage payment uses the standard amortization formula: M = P [ r(1+r)^n ] / [ (1+r)^n − 1 ], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments. Early payments are mostly interest, and the principal share grows as the balance falls. This mortgage payment calculator applies the formula automatically and adds taxes, insurance, PMI, and HOA on top, so the result matches a real lender quote rather than a bare loan payment.
Mortgage Calculator With Taxes, Insurance and PMI
Searching for a mortgage calculator with taxes and insurance included is one of the most common follow-ups after using a basic one, because the basic number is misleading. Property tax alone adds $250 to $800+ per month in most markets, insurance adds another $100 to $300, and PMI applies whenever the down payment is under 20%. This calculator includes all three by default, plus HOA fees, so the estimate is complete the first time.
What Is PMI and When Can I Remove It?
Private mortgage insurance is required on most conventional loans with less than 20% down, typically 0.3% to 1.5% of the loan amount per year. PMI can be removed once loan-to-value reaches 80%. The calculator projects your PMI removal date from the amortization schedule and shows how much the monthly payment drops when it ends.
Mortgage Payoff Calculator: How Extra Payments Save You Money
Every extra dollar toward principal skips the interest that dollar would have generated for the rest of the loan. Enter any extra monthly or one-time payment and the mortgage payoff calculator shows interest saved, years cut, and your new payoff date instantly.
Example: On a $300,000 loan at 7% for 30 years, an extra $200 per month saves roughly $128,000 in interest and pays the loan off about 7 years early.
Mortgage Comparison Calculator: Two Loans Side by Side
A mortgage comparison calculator answers the question a single estimate can't: which of two loan offers actually costs less. Comparison mode puts two rate and term combinations side by side with a shared home price and down payment, showing monthly payment, total interest, and payoff date for each. Change any shared input once and both columns update live, so lender quotes become directly comparable without re-entering everything.
Extra Payment Mortgage Calculator
An extra payment mortgage calculator shows what any additional principal payment does to your loan: interest saved, years cut, and your new payoff date. Enter a recurring monthly extra, an annual lump sum, or a one-time payment, and the results update instantly. Preset scenarios for $50, $100, and $200 extra per month are displayed automatically, so you see the impact before entering anything.
Mortgage Calculator With PMI and HOA
Buyers putting down less than 20% pay PMI, and many properties carry HOA fees, yet most estimates skip both. This mortgage calculator with PMI applies the insurance automatically below 20% down, projects the exact month it can be removed at 80% loan-to-value, and includes HOA fees in the monthly total, so the payment shown matches the payment you'll actually make.