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

$360,000.00

Principal & interest

$2,021.51

Tax & insurance

$533.33

HOA & PMI

$85.00

Estimated monthly payment

$2,639.84

Lifetime interest

$367,743.91

At 5.4% APR over 30 years, extra principal payments can shorten payoff and reduce interest.

Amortization checkpoints

Track balance, interest, and principal through the mortgage term.

Payment 1$359,598.49
Payment: $2,021.51Interest: $1,620.00Principal: $401.51
Payment 2$359,195.17
Payment: $2,021.51Interest: $1,618.19Principal: $403.32
Payment 3$358,790.04
Payment: $2,021.51Interest: $1,616.38Principal: $405.13
Payment 4$358,383.08
Payment: $2,021.51Interest: $1,614.56Principal: $406.96
Payment 5$357,974.30
Payment: $2,021.51Interest: $1,612.72Principal: $408.79
Payment 6$357,563.67
Payment: $2,021.51Interest: $1,610.88Principal: $410.63
Payment 7$357,151.20
Payment: $2,021.51Interest: $1,609.04Principal: $412.47
Payment 8$356,736.86
Payment: $2,021.51Interest: $1,607.18Principal: $414.33
Payment 9$356,320.67
Payment: $2,021.51Interest: $1,605.32Principal: $416.19
Payment 10$355,902.60
Payment: $2,021.51Interest: $1,603.44Principal: $418.07
Payment 11$355,482.65
Payment: $2,021.51Interest: $1,601.56Principal: $419.95
Payment 12$355,060.81
Payment: $2,021.51Interest: $1,599.67Principal: $421.84
Payment 13$354,637.08
Payment: $2,021.51Interest: $1,597.77Principal: $423.74
Payment 14$354,211.43
Payment: $2,021.51Interest: $1,595.87Principal: $425.64
Payment 15$353,783.87
Payment: $2,021.51Interest: $1,593.95Principal: $427.56
Payment 16$353,354.39
Payment: $2,021.51Interest: $1,592.03Principal: $429.48
Payment 17$352,922.97
Payment: $2,021.51Interest: $1,590.09Principal: $431.42
Payment 18$352,489.62
Payment: $2,021.51Interest: $1,588.15Principal: $433.36

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.

  1. Enter purchase details

    Add home price, down payment, APR, and loan term.

  2. Include housing costs

    Provide annual property tax, homeowners insurance, HOA fees, and PMI if needed.

  3. Test extra payments

    Add monthly or annual extra principal to see payoff acceleration and interest savings.

  4. 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
  1. Baseline payment

    The calculator reveals a PITI near $2,915 including PMI scheduled to drop in year six.

  2. Extra payment scenario

    Adding $200 extra per month shows a four-year faster payoff and $116,000 in interest savings.

  3. 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

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