Private Mortgage Insurance, required when down payment is less than 20%. Typically 0.3-1.5% of loan amount annually.

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Mortgage Calculator

Calculate your monthly mortgage payment with taxes, insurance, PMI & HOA. View amortization schedule, see extra payment savings, and understand your total cost.

🏠 Full PITI Breakdown📊 Amortization Schedule💰 Extra Payment Savings🔒 100% Private

🏠 Loan Details

Home Price

Down Payment 20%

Loan Term

Interest Rate

Property Tax /yr

Home Insurance /yr

HOA Fees /mo

PMI Rate /yr

Extra Monthly Payment

Enter your loan details and click Calculate

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How It Works

Understand every dollar of your mortgage payment

Enter Loan Details

Home price, down payment, interest rate, and loan term. Add taxes, insurance, PMI & HOA for the full picture.

See Your Payment

Get an instant breakdown of principal, interest, taxes, insurance, PMI, and HOA in your monthly payment.

View Amortization

See year-by-year or month-by-month how your balance decreases and equity builds over the life of the loan.

Save with Extra Payments

See how adding extra monthly payments can save you thousands in interest and years off your mortgage.

Frequently Asked Questions

Common mortgage questions answered

How is the monthly mortgage payment calculated?

The monthly principal and interest 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 total number of payments. Property taxes, insurance, PMI, and HOA are then added to get your total monthly payment (PITI+).

What is PMI and when do I need it?

Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the home price. It protects the lender if you default. PMI typically costs 0.3% to 1.5% of the loan amount annually. Once your equity reaches 20%, you can request PMI removal.

Should I choose a 15-year or 30-year mortgage?

A 15-year mortgage has higher monthly payments but saves significantly on total interest (often 50%+ less). A 30-year mortgage offers lower monthly payments and more financial flexibility. Use this calculator to compare both scenarios side by side.

How much can I save with extra monthly payments?

Even small extra payments add up. On a $280,000 loan at 6.5% over 30 years, an extra $200/month saves over $90,000 in interest and pays off your mortgage 7+ years early. Use the Extra Monthly Payment field in Advanced Options to see your exact savings.

Is my financial data private?

100% private. All calculations run locally in your browser. No financial data is sent to any server, stored, or logged. Close the tab and everything is gone. Zero data collection, unlike most mortgage calculator sites.