Decision instrument

Mortgage Calculator

Estimate fixed-rate principal, interest, taxes, insurance, HOA, and PMI from your inputs.

Your inputs

Adjust the fields and review the result in this workbench.

Mortgage inputs

Enter PMI only if you expect to pay it. PMI terms vary by loan and borrower; this calculator does not estimate whether it applies, its premium, or when it ends.

Interpretation

How Mortgage Calculation works

The Mortgage Calculator estimates regular principal and interest for a fixed-rate mortgage, then adds the property-tax rate and the monthly insurance, HOA, and optional PMI estimates you enter. It does not determine lender fees, PMI eligibility, an exact PMI premium, or when PMI may be removed.

Example

Key features

A realistic example to show how this tool can support an actual decision.

Formula

Monthly P&I = P × [r(1 + r)^n] / [(1 + r)^n − 1], where P is loan amount, r is monthly interest rate, and n is the number of payments.

  • Fixed-rate principal-and-interest payment estimate
  • Property tax, insurance, HOA, and user-entered PMI estimates
  • First-year and final-payment amortization view
  • Clear exclusions for lender-specific costs and PMI rules

Avoid mistakes

Common mistakes

A few things that can lead to misleading results or poor decisions.

Check each lender estimate for origination charges, escrow requirements, and PMI terms. Those details can materially change the cash needed at closing and the monthly payment.

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