Mortgage Calculator
Calculate your monthly mortgage payment with a full breakdown: principal & interest (P&I), property taxes, home insurance, and HOA. Results update instantly as you type.
Methodology: deterministic formulas based on your inputs only. No account data, no external rates, and no personalized advice.
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Results
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Save your current inputs and compare Current + up to 2 saved scenarios.
Note: Saved scenarios are stored locally in your browser.
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Year-by-year breakdown
| Year | End Balance | Total Paid (P&I) | Total Interest | Total Paid (All-in) |
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What this mortgage calculator covers
This tool estimates both your core mortgage payment (principal + interest) and a more realistic all-in monthly amount when you include property tax, insurance, and HOA dues.
It also provides a year-by-year schedule so you can see how much equity builds over time and how much interest is paid along the way.
Key drivers of monthly cost
The biggest drivers are home price, down payment, interest rate, and term length. A larger down payment reduces loan amount and often lowers both monthly payment and lifetime interest.
Non-loan costs matter too. Even if two homes have similar mortgage payments, differences in taxes, insurance, or HOA can materially change the total monthly cost.
How to interpret the outputs
Use Monthly P&I to compare financing structure, then use Total monthly payment for budgeting your real housing cash flow.
In the schedule, watch the balance decline pattern: early years tend to be interest-heavy, while principal reduction accelerates later. This is normal amortization behavior.
Important limitations to keep in mind
This version does not model PMI, changing tax rates, insurance increases, adjustable-rate features, or lender-specific fee structures.
Treat this as a high-quality baseline estimate. Before purchase, validate with lender disclosures and local tax/insurance assumptions.
Frequently asked questions
What does P&I mean?
P&I means Principal and Interest — the core mortgage payment. Your lender may also collect property taxes and insurance monthly (escrow), plus HOA if applicable.
Does this include PMI?
Not yet. PMI depends on down payment percentage and lender rules. We can add PMI later.
Are property taxes and insurance required?
Optional in this calculator. Many mortgages include them in the monthly payment via escrow.