Home Loans
Mortgage Calculator
Estimate your total monthly mortgage payment — principal, interest, taxes, insurance, PMI, and HOA — and see the full year-by-year amortization schedule. Everything updates live as you adjust the numbers below.
View full amortization schedule
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How this mortgage calculator works
This calculator uses the standard fixed-rate amortization formula to turn your home price, down payment, interest rate, and loan term into a monthly principal-and-interest payment, then layers on property tax, home insurance, PMI, and HOA to show your full estimated housing payment. The loan amount is simply the home price minus your down payment, and the interest rate you enter is treated as a fixed annual rate divided into equal monthly payments for the full term.
Property tax and home insurance are usually collected monthly through an escrow account by your lender, even though they're billed annually — so this tool divides your annual entries by 12 and adds them to principal and interest to get your full "PITI" payment (Principal, Interest, Taxes, Insurance). PMI (private mortgage insurance) typically applies when your down payment is below 20%, and can usually be removed later once you reach 20% equity. The amortization schedule shows how each payment splits between interest (which shrinks over time) and principal (which grows), and the extra-payment slider recalculates the whole schedule to show how much sooner you'd pay off the loan — and how much interest you'd save — by paying more toward principal each month.
What's the difference between my loan amount and my home price?
Your loan amount is the home price minus your down payment — it's the amount you're actually borrowing from the lender and the number your interest rate applies to.
Why does my payment include taxes and insurance if those aren't part of the loan?
Most lenders require an escrow account that collects a portion of your annual property tax and home insurance bill with every monthly payment, then pays those bills on your behalf when they're due — so they're part of your real monthly housing cost even though they aren't part of the loan itself.
How much does an extra principal payment actually save?
Because interest is calculated on your remaining balance, even modest extra payments toward principal early in the loan reduce the balance interest is charged on for every remaining month — which can cut years off a 30-year loan and save a substantial amount in total interest. Use the extra-payment slider above to see the exact effect for your numbers.