Estimate fixed-rate mortgage payments, recurring housing costs, payoff savings, and a complete amortization schedule.
The fixed principal-and-interest payment amortizes the home price minus down payment over the selected term. Property tax, homeowners insurance, HOA, and entered PMI are separate housing costs: they increase the monthly estimate but never reduce the loan balance.
At zero interest, payment equals principal divided by payment count.
Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)Enter a percentage or fixed amount. Both forms are shown in results, and the down payment is subtracted from home price to determine the loan amount.
Enter annual amounts or percentages of home price. The estimate divides the annual values into monthly costs. Actual premiums and taxes can change.
HOA dues are entered as a monthly housing cost. They do not pay down mortgage principal and may change independently.
PMI is a user-entered monthly amount or annual percentage of the original loan. Eligibility and cancellation rules vary; this calculator does not determine or automatically remove PMI.
Extra payments apply only to principal after scheduled principal and interest. The accelerated schedule estimates payoff and interest savings. Yearly and monthly tables keep tax, insurance, HOA, and PMI separate from loan balance reduction.
For a $350,000 home with 20% down, the loan is $280,000. At 6.5% for 30 years, principal and interest are approximately $1,769.79. Adding $350 monthly property tax and $150 insurance gives an estimated $2,269.79 monthly payment before HOA or PMI.
The fixed principal-and-interest payment uses the loan amount, monthly interest rate, and number of payments. Taxes, insurance, HOA, and entered PMI are then added as housing costs.
This estimate can include principal and interest, property tax, homeowners insurance, HOA fees, and user-entered PMI.
Principal reduces the loan balance. Interest is the lender’s charge calculated from the remaining balance and monthly rate.
A larger down payment reduces the loan amount and generally lowers principal, interest, and the monthly principal-and-interest payment.
Private mortgage insurance may apply to some loans. This calculator treats PMI as a user-entered cost and does not determine eligibility or remove it automatically.
Yes. Enter an annual amount or a percentage of home price. Actual taxes can change and local rules vary.
Extra payments reduce principal after the scheduled payment, which reduces later interest and can shorten payoff time.
Lenders may use different escrow, daily-interest, fee, date, and rounding conventions, and taxes or insurance may change.
No. This calculator does not include dedicated closing-cost and regulatory APR logic and does not claim to calculate APR.
No. This version supports fixed-rate mortgages with monthly compounding only.
For this estimate, the first payment is one month after the entered start date, clamped to the destination month’s last valid day.
The final loan payment is limited to the remaining principal plus accrued interest, so it can be smaller than the usual payment.