Mortgage Payment Calculator
Calculate your monthly mortgage payment in seconds — with PMI, extra payments, and payoff date.
Loan details
Monthly extras (optional)
Important: This calculator provides estimates only. Actual payments may vary based on lender terms, taxes, insurance, PMI rules, fees, and rounding. Not a loan offer or financial advice.
Results
View amortization schedule
| Month | Payment | Principal | Interest | Extra | Balance |
|---|
How this mortgage calculator works
This tool estimates your monthly mortgage payment using your home price, down payment, interest rate, and loan term. Your base payment includes principal and interest (P&I). You can also include property taxes, home insurance, HOA fees, and an estimated PMI amount if your down payment is under 20%.
What does PMI mean?
PMI (private mortgage insurance) is often required when your loan-to-value (LTV) is above 80%. This calculator can estimate PMI based on your LTV, or you can enter your own PMI amount if you already know it.
Extra payments
Adding a small extra payment each month can shorten your loan and reduce total interest. This calculator shows an estimated payoff date, plus the time and interest saved compared to making only the scheduled payment.
FAQ
Is this exact? No. It’s a strong estimate, but real payments vary by lender, taxes, insurance, PMI rules, and fees.
Does the monthly payment include taxes and insurance? Only if you enter them in the optional fields.
How do I save or share results? Use “Download PDF” or export the amortization schedule as CSV.
Why trust this mortgage calculator?
This calculator uses standard mortgage formulas commonly used by lenders and financial institutions to estimate principal and interest payments. Calculations are based on amortization schedules, loan term length, interest rate, and optional inputs such as taxes, insurance, PMI, and extra payments.
PMI estimates are based on typical loan-to-value (LTV) ranges and are provided as a general guideline. Actual PMI rates and removal rules vary by lender and loan type.
This tool is designed to help you understand how different loan scenarios affect your monthly payment and long-term interest costs. It does not collect personal data, does not require sign-ups, and does not attempt to sell or steer you toward specific lenders or products.
Always confirm final loan terms, rates, and costs with your lender or financial professional before making a financial decision.