How to use this calculator
Compare principal, interest, taxes, insurance, HOA, PMI and other costs. You can enter down payment as amount or percent, add recurring/annual/one-time principal, escalate housing costs yearly, and model PMI cancellation below an entered loan-to-value threshold. Open the full repayment schedule.
- Enter mortgage model, home price, down payment and review the remaining options.
- Select Calculate or change a value to update the result. Read the result label and units before copying.
- Use Reset to restore the worked starting values.
Formula and method
Equal-period fixed-rate model. The entered PMI threshold is a scenario assumption, not an automatic lender cancellation rule. Housing costs grow at the entered constant yearly rates and stop at modeled payoff. Tax laws, property appreciation, lender conditions and prepayment penalties are excluded.
Worked example
A 240,000 loan at 6% over 30 years has a principal-and-interest payment of about 1,438.92.
Questions about mortgage calculator
What costs are included in the monthly estimate?
The estimate combines principal and interest with the housing costs you enter. Optional settings support amount- or percentage-based costs, annual cost changes, a modeled PMI balance threshold, and extra payments. The threshold is a scenario assumption, not a promise of lender cancellation. Check the schedule and stated cost conventions.
What assumptions should I check?
Equal-period fixed-rate model. The entered PMI threshold is a scenario assumption, not an automatic lender cancellation rule. Housing costs grow at the entered constant yearly rates and stop at modeled payoff. Tax laws, property appreciation, lender conditions and prepayment penalties are excluded.
Are my inputs saved?
Calculations run in your browser. We store only tool IDs for favorites and recent tools. Sharing inputs in links is disabled for this category.
Financial tools model the assumptions shown above and do not predict actual returns or replace lender disclosures or professional advice. Amounts are currency-neutral: use the same currency for every amount. No exchange rate is applied.