Understand principal, interest, escrow, PMI, and extra payments. Compare terms, costs, and payoff dates easily. Plan smarter payments using clear tables, charts, and exports.
Use the fields below to estimate full monthly costs, amortization, payoff timing, and the impact of extra payments.
| Scenario | Home Price | Down Payment | Rate | Term | Tax | Insurance | HOA | Extra | Approx. First Month Total |
|---|---|---|---|---|---|---|---|---|---|
| Example A | $350,000 | 20% | 6.50% | 30 years | $4,200/year | $1,500/year | $75/month | $200/month | $2,519.79 |
| Example B | $275,000 | $27,500 | 5.90% | 20 years | $3,000/year | $1,080/year | $0/month | $100/month | Varies after calculation |
| Example C | $500,000 | 10% | 6.95% | 30 years | $6,800/year | $2,100/year | $180/month | $0/month | Varies after calculation |
The calculator first determines the financed loan amount:
For a fixed-rate mortgage, the monthly principal and interest payment is calculated with:
Where:
P = loan amount
r = monthly interest rate
n = total number of monthly payments
M = monthly principal and interest payment
Each month, the calculator also adds escrow-style items and optional costs:
Interest is based on the current balance. Principal equals scheduled principal plus any extra payment. PMI is estimated monthly until the selected loan-to-value threshold is reached.
1. Enter the home price and choose whether your down payment is a percent or fixed amount.
2. Add the annual interest rate, loan term, and the month your payments begin.
3. Include annual property tax, annual insurance, monthly HOA dues, and PMI rate if applicable.
4. Enter any extra monthly payment to see how faster principal reduction changes payoff timing.
5. Press Calculate Breakdown to show summary cards, a yearly summary, the full amortization table, and a Plotly graph above the form.
6. Use the CSV button for spreadsheet analysis or the PDF button for a printable report.
It combines scheduled principal and interest with property tax, homeowners insurance, HOA dues, estimated PMI, and any extra payment you choose.
PMI is estimated until the loan balance reaches the selected loan-to-value threshold. Many users model PMI stopping around 80% LTV.
Yes. Extra payments are applied to principal, which lowers future interest charges and usually shortens the payoff period.
Not always. Some lenders collect them monthly through escrow, while others allow direct payment. This tool includes them for a fuller ownership estimate.
Yes. Enter zero whenever a cost does not apply. The calculator will still build the payment schedule correctly.
Yes. When the interest rate is zero, the loan balance is divided evenly across the full number of monthly payments.
No. Closing costs are shown separately in cash-to-close and total paid calculations, but they are not spread into the monthly payment amount.
It is an estimate based on fixed monthly timing and the entered assumptions. Actual servicing rules, rate changes, and escrow adjustments may differ.
Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.