Mortgage Calculator

Calculate monthly mortgage payments, breakdown, and full amortization schedule

Loan Details

Home Price

Down Payment

Loan Term

Interest Rate (% / year)

Property Tax (annual $)

Home Insurance (annual $)

PMI Rate (% / year)

Payment Summary

Enter home price, down payment, and interest rate to see results

Amortization Schedule

Amortization schedule will appear here

About This Mortgage Calculator

This mortgage calculator computes your full monthly housing payment including principal & interest, property taxes, homeowner's insurance, and PMI (if your down payment is under 20%). It also generates a complete amortization schedule showing every monthly payment for the life of the loan.

Formula Used

P&I = L × [r(1+r)^n] / [(1+r)^n − 1]
Where L = loan amount, r = monthly rate, n = total months.
Total payment = P&I + Tax + Insurance + PMI

PMI Notes

PMI applies when down payment is less than 20%
Typical PMI rate: 0.5%–1.5% of loan amount/year
PMI is removed once balance reaches 80% LTV
All figures are estimates — consult a lender for exact rates