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Comprehensive Mortgage Calculator

Calculate payments including taxes, PMI, HOA, annual cost increases, and extra payment impact.

1. Loan Information Core Inputs
Home Price $
Down Payment
Loan Term Years
Interest Rate %
2. Extra Payments Optional
Monthly Extra
Yearly Extra
$
3. Taxes & Insurance Annual Costs & Increases
Property Tax
Home Ins.
PMI Insurance
HOA Fee
Other Costs
Property Tax Increase %
Home Ins. Increase %
HOA Fee Increase %
Other Costs Increase %

Monthly Payment:

Principal & Interest:
Tax & Insurance:
One-Time Payments:

Mortgage Calculation Logic

Calculating a mortgage involves determining the fixed monthly payment required to pay off the principal and interest over the loan term.

1. The "Extra Pay" Effect

Adding even $100 to your monthly payment can shorten a 30-year mortgage by several years and save you tens of thousands in interest.

Mathematical Formula
Component Formula
Monthly P&I $P \times \frac{r(1+r)^n}{(1+r)^n - 1}$
Monthly Tax $(\text{Property Value} \times \text{Tax Rate}) / 12$
Common Definitions
  • PMI: Private Mortgage Insurance, usually required if down payment is < 20%.
  • HOA: Homeowners Association fees for community maintenance.
  • Amortization: The process of paying off debt over time in regular installments.