Mortgage Calculator

Calculate your monthly mortgage payment including principal, interest, taxes, insurance, and other costs.

Mortgage Details

Enter your home purchase and loan information

Additional Costs (Optional)

Payment Breakdown

Enter mortgage details to see payment breakdown

Understanding Mortgage Payments

  • • Principal & Interest: Core loan payment
  • • Property Tax: Annual tax paid to local government
  • • Home Insurance: Property protection coverage
  • • PMI: Private mortgage insurance (if down payment < 20%)
  • • HOA Fees: Homeowners association dues
  • • PITI: Principal, Interest, Taxes, Insurance

Money-Saving Tips

  • • Larger down payment reduces PMI and interest
  • • Shorter loan terms save total interest costs
  • • Shop around for best interest rates
  • • Consider points to buy down rate
  • • Budget for closing costs and moving expenses
  • • Factor in maintenance and repair costs

Professional Mortgage Payment Analysis

Mortgage payment calculation requires comprehensive analysis of principal, interest, taxes, insurance, and additional costs. Our calculator provides accurate estimates for home buyers, helping with budget planning, loan comparison, and affordability assessment. Understanding total monthly costs is crucial for responsible home purchasing decisions.

Home Buying Benefits:

  • Accurate monthly payment estimation for budget planning
  • Loan term comparison and total cost analysis
  • Down payment strategy optimization
  • PMI impact assessment and removal planning
  • Property tax and insurance cost inclusion
  • Affordability analysis based on income ratios

Financial Planning Applications:

  • Pre-approval preparation and documentation
  • Refinancing analysis and break-even calculations
  • Investment property cash flow projections
  • Debt-to-income ratio planning and optimization
  • Long-term financial goal integration
  • Tax deduction planning and impact analysis

This tool uses standard mortgage calculation formulas with comprehensive cost inclusion for accurate payment estimates. Perfect for home buyers, real estate professionals, and financial advisors requiring precise mortgage analysis for informed decision-making and client consultation.