Mortgage Calculator
Monthly payment, amortization, PMI & payoff — with tax, insurance & extra payments.
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Monthly Payment
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P + I + Tax + Insurance + PMI + HOA
Loan Amount$0
Total Interest$0
Total of Payments$0
Payoff Date—
How to Use This Mortgage Calculator
- Enter the home price you're considering.
- Set your down payment as a dollar amount or a percentage — they sync automatically.
- Pick a loan term (10–30 years or a custom number).
- Enter the annual interest rate your lender quoted.
- Add yearly property tax, home insurance, optional HOA and a PMI rate (applied automatically when your down payment is under 20%).
- Optionally add an extra monthly payment or switch to bi-weekly to see how much faster you pay off and how much interest you save.
- Open Amortization Schedule & Charts to view the full payoff timeline and export it.
What Is a Mortgage Payment? (PITI Explained)
A monthly mortgage payment is usually more than just loan repayment. Lenders bundle several costs into one figure commonly called PITI:
- Principal — the portion that reduces your loan balance.
- Interest — the cost of borrowing, highest in the early years.
- Taxes — property taxes collected and forwarded to local government.
- Insurance — homeowner's insurance, plus PMI if your down payment is below 20%.
HOA or maintenance fees are paid separately but matter for your true monthly housing cost, so this calculator includes them too. PMI is added automatically when your loan-to-value (LTV) ratio is above 80%, and it drops off in the amortization schedule once your balance reaches 80% of the original home price.
Common Use Cases
🏠First-time buyersTest prices against the 28/36 affordability rule before house hunting.
💰Down payment planningSee how 5%, 10% or 20% down changes your payment and PMI.
⚡Payoff accelerationFind how extra or bi-weekly payments shave years off the loan.
📊15 vs 30 yearCompare total interest across different loan terms instantly.
🌎Global buyersWorks in USD, EUR, GBP, INR, PKR, AUD, CAD, AED and more.
📋Refinance checkModel a new rate and term to see lifetime savings.
Why Choose Our Mortgage Calculator
- ✅ Full PITI + PMI + HOANot just principal and interest — the complete monthly picture.
- 📈 Amortization scheduleYear-by-year or month-by-month, with a live payoff chart.
- ⏱️ Payoff date & savingsExtra and bi-weekly payments show exact interest saved.
- 📥 Export & printDownload the schedule as CSV or print a clean report.
- 🔒 100% privateEverything runs in your browser. No data is uploaded or stored.
- 📱 Works everywhereResponsive, dark mode, fullscreen — phone, tablet or desktop.
Frequently Asked Questions
Does this calculator include PMI?
Yes. When your down payment is below 20%, PMI is calculated automatically from the PMI rate you enter and added to your monthly payment. In the amortization schedule it is removed once your loan balance falls to 80% of the original home price, just like most US conventional loans.
How do extra payments save money?
Every extra dollar goes straight to principal, which reduces the balance interest is charged on. Even a small monthly extra can cut years off a 30-year loan and save tens of thousands in interest. The calculator shows your exact interest saved and new payoff date.
What does the bi-weekly option do?
Bi-weekly means you pay half your monthly amount every two weeks — 26 half-payments a year, equal to 13 monthly payments instead of 12. That one extra payment per year accelerates payoff and reduces total interest without a large budget change.
Are property tax and insurance always paid through the lender?
If your lender requires an escrow account, they collect tax and insurance with each payment and pay those bills for you. Some loans let you pay them directly. Either way, including them here gives a realistic total monthly housing cost.
What about closing costs?
Closing costs (typically 2–5% of the price in the US) are paid upfront and are not part of the monthly payment, so they aren't included here. Budget them separately from your down payment.
How much house can I afford?
A common guideline is the 28/36 rule: housing costs under 28% of gross monthly income, and total debt under 36%. Test different prices here and check the resulting payment against your income.
Is my financial data saved?
No. All calculations happen locally in your browser. The optional Save button stores a snapshot only on your own device using local storage — nothing is transmitted or logged.