Mortgage Calculator - Payment and Amortization
Free mortgage calculator with taxes, insurance, PMI, HOA and extra payments. See your monthly payment, full amortization schedule, charts, and print or export it.
Estimate your monthly mortgage payment with taxes, insurance, PMI, HOA and extra payments. See the full amortization schedule and charts, then print or export. Everything runs in your browser.
Taxes and costs (yearly unless noted)
How to Use Mortgage Calculator - Payment and Amortization
- Enter the home price and down payment. Type the purchase price and the down payment as a percent. The loan amount is the price minus the down payment.
- Set the loan term and interest rate. A common loan is 30 years. Enter the annual interest rate your lender quoted.
- Add taxes and costs. Fill in yearly property tax and home insurance, PMI if your down payment is under 20 percent, and any HOA or other monthly costs.
- Add an extra payment if you want. Any extra monthly amount goes straight to the principal, which shortens the loan and cuts interest.
- Read the results. See the monthly payment, a cost breakdown chart, the full amortization schedule, and the payoff date. Print it, download the schedule as a CSV, or copy a share link.
Frequently Asked Questions
How is the monthly payment calculated?
It uses the standard amortization formula: M = P times r divided by 1 minus (1 plus r) to the power of minus n, where P is the loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the number of months. Taxes, insurance, PMI, HOA and other costs are added on top to show your full monthly out-of-pocket amount.
What is PMI and when does it stop?
Private mortgage insurance is usually required when your down payment is under 20 percent. This calculator adds PMI each month until the loan balance falls to 80 percent of the home price, then removes it automatically, just as a lender would.
How do extra payments help?
An extra amount each month is applied entirely to the principal. That lowers the balance faster, so less interest builds up and the loan is paid off sooner. Try adding an extra payment and watch the payoff date and total interest drop.
Is my information sent anywhere?
No. The calculator runs entirely in your browser. Your numbers never leave your computer, and it works offline once the page has loaded.
What does the amortization schedule show?
It shows how each payment splits between interest and principal over time, and how the balance falls. Early payments are mostly interest, while later payments are mostly principal. You can switch between an annual summary and the full monthly schedule, and export it as a CSV.
Can I use it for any currency?
The math works for any currency. Amounts are shown with a dollar sign, but the payment, schedule and totals are correct whatever currency you are budgeting in.
Does it handle adjustable-rate mortgages?
This calculator assumes a fixed interest rate for the whole term, which covers most home loans. For an adjustable-rate mortgage you can re-run it with the new rate once it changes.