Mortgage Calculator
Estimate your monthly payment, interest costs, and payoff timeline for a home loan.
What's included in the monthly payment estimate?
Principal and interest, plus property tax, homeowners insurance, HOA fees, and PMI if you include them — commonly referred to together as PITI.
What is PMI and when can I stop paying it?
Private mortgage insurance is typically required when your down payment is below 20% of the home's price. Once you reach roughly 20% equity, you can usually request that PMI be removed.
How does loan term affect total interest paid?
A shorter term, like 15 years instead of 30, means higher monthly payments but substantially less interest paid over the life of the loan, since less time is spent accruing interest on the remaining balance.
What does an extra monthly payment actually do?
Extra payments go directly toward your principal balance, which reduces the interest that accrues going forward and can shorten your payoff timeline.