Mortgage Calculator & Payment Planner
Calculate your monthly mortgage payments, view detailed amortization schedules, and compare different loan scenarios to make informed home buying decisions.
Our mortgage calculator includes all costs (taxes, insurance, PMI, HOA) and provides detailed amortization schedules to help you understand the true cost of homeownership.
Loan Details
Monthly P&I
Total Monthly
Total Interest
Total Cost
Amortization Schedule
Key Mortgage Insights
Interest Rate Impact
A 1% interest rate increase on a $400K loan adds ~$240/month to your payment.
Down Payment Benefits
20% down eliminates PMI and reduces your monthly payment significantly.
Loan Term Trade-offs
15-year loans have higher payments but save significantly on total interest.
Total Cost of Ownership
Your total cost includes more than just principal and interest payments.
Principal vs Interest
Early payments are mostly interest. Principal portion grows over time.
Affordability Rule
Keep total housing costs under 28% of gross monthly income for comfort.
Mortgage Calculator FAQ
Calculator Basics
Payment Components
Amortization & Payment Strategies
Affordability & Planning
Important Disclaimer
Estimation Tool Only: This mortgage calculator provides estimates for planning purposes. Actual loan terms, payments, and costs may vary based on lender requirements, credit score, debt-to-income ratio, loan programs, and market conditions.
Rate Assumptions: Interest rates used in calculations are for estimation purposes only. Actual rates depend on many factors including credit score, down payment, loan type, and market conditions. Always get official rate quotes from lenders.
Additional Costs: Property taxes, insurance, PMI, and HOA fees are estimates. Actual costs vary by location, property type, coverage levels, and local regulations. Contact local authorities and insurance providers for accurate figures.
Loan Approval: Calculator results do not guarantee loan approval or specific terms. Lenders evaluate multiple factors including employment history, assets, debts, and property type when making lending decisions.
Professional Advice: Consult with qualified mortgage professionals, financial advisors, and real estate professionals before making any home purchase or financing decisions. This tool supplements but does not replace professional advice.
Accuracy Disclaimer: While we strive for accuracy, we make no warranties about the completeness or accuracy of calculations. Always verify important financial calculations with multiple sources and professionals.
Last updated: May 30, 2025
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