Mortgage Calculator
Calculate your monthly mortgage payment and affordability
Includes principal, interest, taxes, insurance, PMI, and amortization schedule
Loan Details
Additional Costs
Monthly Payment Summary
Understanding Your Mortgage Payment
Principal & Interest
The core payment that pays down your loan balance and covers the lender's interest charges. Early payments are mostly interest.
Property Taxes
Annual taxes based on your home's assessed value, typically 0.5-2.5% of home value. Collected monthly and held in escrow.
Homeowners Insurance
Required coverage protecting your home and belongings. Costs vary by location, home value, and coverage level.
PMI (Private Mortgage Insurance)
Required when down payment is less than 20%. Protects the lender and typically costs 0.3-1.5% of loan amount annually.
Amortization Schedule
Shows how each payment is split between principal and interest over time. Early payments are mostly interest, later ones mostly principal.
28/36 Affordability Rule
Housing costs should not exceed 28% of gross income, and total debt should not exceed 36% of gross income.
Mortgage Calculator Features
✅ Complete Payment Breakdown
Principal, interest, taxes, insurance, PMI, and HOA fees
📊 Amortization Schedule
Month-by-month payment breakdown over loan term
🏠 Affordability Analysis
28/36 rule compliance and debt-to-income ratios
💰 Total Cost Analysis
Total interest and lifetime payment calculations