Mortgage Calculator
Calculate your monthly mortgage payments including principal, interest, taxes, and insurance. Includes PMI calculations and detailed payment schedules.
Loan Details
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Additional Costs
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Mortgage Calculator Guide
What”s Included
- Principal & Interest: Your main loan payment
- Property Taxes: Based on home value and local tax rates
- Home Insurance: Required by all lenders
- PMI: Required if down payment is less than 20%
- Extra Payments: Additional principal payments
Mortgage Types
- 30-Year Fixed: Lower payments, more interest
- 15-Year Fixed: Higher payments, less interest
- ARM: Variable rates, lower initial payments
Key Terms
APR: Annual Percentage Rate including fees
PMI: Private Mortgage Insurance (0.3% - 1.5% annually)
Escrow: Account for taxes and insurance
LTV: Loan-to-Value ratio (loan amount ÷ home value)
DTI: Debt-to-Income ratio (total debts ÷ gross income)
Money-Saving Tips
- • Put down 20% to avoid PMI
- • Shop around for the best rates
- • Consider paying points to lower rate
- • Make extra principal payments
- • Refinance when rates drop significantly