Home Financing
Mortgage Calculator
Model PITI payments, test extra principal strategies, and evaluate affordability before you sign your loan.
Loan & property inputs
Add taxes, insurance, HOA, and PMI to get a complete payment picture.
Payment breakdown
Financed amount
US$360,000.00
Principal & interest
US$2,021.51
Tax & insurance
US$533.33
HOA & PMI
US$85.00
Estimated monthly payment
US$2,639.84
Lifetime interest
US$367,743.91
Amortization checkpoints
Track balance, interest, and principal through the mortgage term.
What happens if I add extra principal?Extra monthly principal shortens payoff and reduces interest. Use the slider to see the impact instantly.
Can I include HOA dues and PMI?Yes—enter HOA, and enable PMI when down payment is under 20% to see the true monthly cost.
How do I check affordability?Toggle the affordability panel, enter income and debts, and compare the result to your lender’s DTI target.
How to estimate your mortgage
Cover principal, interest, taxes, insurance, and HOA dues in one run.
- Enter purchase details
Add home price, down payment, APR, and loan term.
- Include housing costs
Provide annual property tax, homeowners insurance, HOA fees, and PMI if needed.
- Test extra payments
Add monthly or annual extra principal to see payoff acceleration and interest savings.
- Use affordability view
Switch tabs to compare the payment against income and debt-to-income ratios.
Case study: Buying with PMI
A buyer wants to understand cash flow and PMI payoff when purchasing with 15% down.
- Home price
- $420,000
- Down payment
- 15%
- APR & term
- 6.2% for 30 years
- Baseline payment
The calculator reveals a PITI near $2,915 including PMI scheduled to drop in year six.
- Extra payment scenario
Adding $200 extra per month shows a four-year faster payoff and $116,000 in interest savings.
- Affordability check
With combined household income, the front-end ratio stays below 28%, confirming the payment fits budget guidelines.
Planning takeaway
The buyer keeps the property on the shortlist and negotiates lender quotes with the amortization summary in hand.
Mortgage calculator FAQs
Does the payment include taxes and insurance?
Yes. Enter annual property tax and insurance values; the calculator spreads them into monthly escrow amounts.
How can I see when PMI ends?
The amortization view highlights the month your balance drops below 80% loan-to-value.
Can I model a refinance?
Copy your current inputs, adjust APR and term, then compare total interest and payoff date to the original loan.
Further reading
- CFPB mortgage resources
- Fannie Mae guidelines
- Freddie Mac mortgage guides