Mortgage Calculator with Amortization

See your full monthly payment, total interest and how extra payments shorten the loan. Everything runs in your browser; nothing is uploaded.

Loan

Home price ($)

Down payment (%)

Interest rate (%)

Term (years)

Extra principal ($/mo)

Housing costs

Property tax ($/yr)

Home insurance ($/yr)

HOA ($/mo)

PMI (% of loan/yr, until 80% LTV)

Results

Principal & interest

Total monthly payment

PMI (first month)

Loan amount

Total interest

Total PMI

Payoff time

Year	Principal	Interest	Balance

How the mortgage payment is calculated

The principal & interest payment uses the standard amortization formula P = L × r ÷ (1 − (1 + r)⁻ⁿ), where L is the loan amount, r the monthly rate and n the number of monthly payments. Your total monthly payment (PITI) adds property tax, homeowners insurance, HOA dues and private mortgage insurance (PMI).

PMI

Conventional loans with less than 20% down usually carry PMI. This calculator charges PMI as an annual percentage of the original loan until the balance falls to 80% of the home price, then drops it.

Extra payments

Every extra dollar of principal reduces the balance that interest is charged on. The amortization table shows how much faster the loan is paid off and how much interest you save — compare the total interest with and without an extra payment.

Buying a rental? Run the numbers in the rental cash flow calculator.

FAQ

What is included in a mortgage payment?

Principal and interest, plus usually property tax, homeowners insurance, HOA dues and PMI (often called PITI).

When does PMI go away?

On conventional loans PMI can typically be removed at 80% loan-to-value and ends automatically around 78%; FHA mortgage insurance follows different rules.

How much do extra payments save?

It depends on rate and timing; early extra payments save the most interest. Enter an amount above to see the payoff time and total interest change.

Is this an official loan estimate?

No. Lenders' figures include fees, escrow and exact rates; use this for planning.