Mortgage Calculator
Estimated monthly housing payment
$0.00
Monthly payment breakdown
Based on your first monthly payment. Over time, the portion going to principal increases and interest decreases.
With extra monthly payment
No additional mortgage interest savings without extra payments.
Amortization Schedule
Compare your original mortgage repayment schedule with an accelerated payoff using extra monthly payments.
Standard schedule based on minimum required principal and interest payments.
| Month | Payment | Principal | Interest | Balance |
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How this mortgage calculator works
This calculator estimates a monthly mortgage payment based on home price, down payment, interest rate, loan term, annual property tax, annual home insurance, PMI, and HOA fees.
It also shows how extra monthly payments can shorten your payoff timeline and reduce the total mortgage interest paid over time.
What is included in the monthly mortgage payment?
Your estimated payment includes principal and interest, plus monthly property tax, home insurance, PMI, and HOA fees when entered.
This version does not include utilities, maintenance, or closing costs.
Why down payment matters
A larger down payment reduces the size of your mortgage loan, which lowers your monthly principal and interest payment and can reduce total borrowing costs over time.
Frequently asked questions
Does this include PMI?
Yes. PMI can be entered manually or automatically estimated based on your down payment.
Does this include HOA fees?
Yes, if you enter a monthly HOA amount.
Do extra payments reduce taxes or insurance?
No. Extra payments only affect the loan principal and mortgage interest. Taxes, insurance, PMI, and HOA fees are shown as separate monthly housing costs.
Are the state defaults exact?
No. State-based tax and insurance defaults are typical estimates and may not reflect your exact property, county, insurer, or coverage.
Explore more financial tools
Want to compare other borrowing scenarios? Try the loan payment and early payoff calculator.