What does a mortgage calculator include?

It estimates fixed-rate principal and interest and separately adds the property tax, home insurance, mortgage insurance, and HOA figures you enter.

How much down payment should I enter?

Enter the amount or percentage you actually plan to pay. The calculator converts it to loan amount and initial loan-to-value; it does not decide what is affordable for you.

Does the calculator automatically decide when PMI ends?

No. Mortgage-insurance rules vary by loan and country. Enter a quoted monthly premium or annual rate and the duration from your lender disclosure.

Mortgage Calculator

Estimate fixed-rate principal and interest plus entered property tax, insurance, mortgage insurance, and HOA dues.

Fixed-rate mortgage estimate

Enter the mortgage interest rate, not APR. Currency changes display only. The formula divides the entered nominal annual rate by 12; it does not translate jurisdiction-specific compounding or disclosure conventions. Property tax, insurance, HOA, and mortgage insurance stay separate from principal and interest.

Purchase and loan

Currency

Home price ($)

Down payment (%)

Fixed annual interest rate (%)

APR can include fees and is not the rate used by this payment formula.

Loan term (years)

Taxes, insurance, and association dues

Use current quotes or notices. These amounts can change after closing.

Annual property tax ($)

Annual homeowners insurance ($)

Monthly HOA or association dues ($)

Mortgage insurance input

Explore More Finance Tools

Continue with related pages to compare results and improve decision making.

View Finance Category Read the Mortgage Calculator Guide

How This Mortgage Calculator Works

This calculator models a level-payment fixed-rate mortgage. It creates a monthly amortization schedule and adds only the ownership costs and mortgage-insurance duration you enter.

Formula and Calculation

The core formula used by this mortgage calculator is: Monthly principal and interest = P x r / (1 - (1 + r)^-n). Initial housing estimate adds monthly property tax, homeowners insurance, entered mortgage insurance, and HOA dues.

P is home price minus down payment, r is the fixed monthly interest rate, and n is the number of payments. Taxes, insurance, and dues are displayed separately because they do not reduce loan balance and can change.

A $300,000 home with 20% down, a 6.5% fixed rate, and a 30-year term has about $1,516.96 in monthly principal and interest. Adding $3,600 annual property tax and $1,200 annual insurance raises the initial estimate to about $1,916.96.

How to Use This Calculator

Enter home price and down payment as an amount or percentage.
Enter the fixed interest rate, not APR, and the loan term.
Add current property-tax, insurance, HOA, and mortgage-insurance figures if applicable.
Review principal and interest separately from the initial total housing estimate and amortization schedule.

Why Use This Mortgage Calculator?

See how down payment changes loan amount and loan-to-value.
Separate amortized principal and interest from other monthly costs.
Compare fixed-rate terms and total scheduled interest.
Export the full schedule with taxes, insurance, mortgage insurance, and HOA shown in separate columns.