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