Mortgage Calculator
Calculate monthly mortgage payments, interest rates, property taxes, and complete amortization schedules with our free in-browser mortgage calculator.
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Loan & Property Details
Annual Amortization Schedule
Principal payoff and equity progression (5 of 30 years)| Year | Principal | Interest | Taxes & Ins | Total Paid | Ending Balance | Home Equity |
|---|---|---|---|---|---|---|
| 1 | $4,024 | $23,282 | $6,150 | $33,455 | $355,976 | $94,024 |
| 2 | $4,293 | $23,012 | $6,150 | $33,455 | $351,683 | $98,317 |
| 3 | $4,581 | $22,725 | $6,150 | $33,455 | $347,102 | $102,898 |
| 4 | $4,888 | $22,418 | $6,150 | $33,455 | $342,214 | $107,786 |
| 5 | $5,215 | $22,090 | $6,150 | $33,455 | $337,000 | $113,000 |
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Mortgage Calculator delivers instant, transparent home loan and mortgage financing estimates to help homebuyers, homeowners, and real estate investors make confident decisions. By combining the purchase price, down payment percentage, fixed interest rate, and repayment term, the calculator computes your exact monthly principal and interest payment. Beyond the core loan, it seamlessly accounts for essential escrow expenses such as annual property taxes, homeowners insurance, monthly HOA dues, and private mortgage insurance (PMI). Explore the comprehensive year-by-year amortization schedule to discover how your monthly payments shift from interest charges to home equity over 15 or 30 years, all computed privately inside your browser without accounts or data collection.
How to use Mortgage Calculator
- Enter the target home purchase price and your initial down payment (in dollars or percentage).
- Select your preferred loan term (10, 15, 20, 25, or 30 years) and anticipated annual interest rate.
- Optionally customize annual property taxes, homeowners insurance, HOA fees, and PMI.
- Review your estimated monthly payment, visual cost breakdown, and export the complete amortization schedule.
What you get
- Monthly principal and interest installment alongside total estimated monthly payment with escrow.
- Lifetime interest expense, total cost of loan, and loan-to-value (LTV) percentage.
- Full interactive year-by-year amortization table tracking principal reduction and home equity accumulation.
- Exportable plain text summary and CSV data for detailed financial analysis.
When to use Mortgage Calculator
- Estimate monthly mortgage payments before shopping for a new house or apartment.
- Compare the total interest and payment differences between 15-year and 30-year fixed loans.
- Evaluate the financial impact of a 10% versus 20% down payment and understand private mortgage insurance (PMI).
- Export comprehensive annual amortization schedules to CSV for personal budgeting and financial planning.
Frequently asked questions about Mortgage Calculator
What is included in the total monthly mortgage payment?
The total monthly mortgage payment often referred to as PITI includes Principal (paying down loan balance), Interest (fee paid to the lender), Property Taxes (local municipal taxes), and Homeowners Insurance. If your down payment is below 20%, Private Mortgage Insurance (PMI) is also included.
How does the loan term affect my monthly payment and total interest?
A longer loan term such as 30 years yields lower monthly payments because the principal is spread across 360 months, but you pay substantially more total interest over time. A 15-year term requires higher monthly installments but saves tens or hundreds of thousands of dollars in lifetime interest charges.
When is Private Mortgage Insurance (PMI) required and how is it calculated?
Lenders typically require Private Mortgage Insurance (PMI) when conventional loan borrowers put down less than 20% of the home price (a loan-to-value ratio above 80%). PMI typically costs 0.5% to 1.5% of the loan amount annually and is automatically removed once you reach 20% home equity.
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