Mortgage Calculator
Complete mortgage calculator with amortization schedule, PMI, taxes, and insurance. Compare payment options and payoff scenarios.
How it works
Comprehensive mortgage calculator with full amortization schedule, PMI calculations, and total monthly payment including taxes and insurance.
Example
$400K home, 20% down, 6.5% rate, 30 years = $2,021/month P&I + $400 taxes + $100 insurance = $2,521 total payment.
FAQ
What's included in my monthly payment?
Principal, interest, property taxes, homeowners insurance, and PMI (if applicable). Some lenders also include HOA fees in escrow.
When is PMI required?
PMI is typically required on conventional loans when down payment is less than 20%. It can be removed when loan balance reaches 78% of original home value.
How does payment frequency affect the loan?
Bi-weekly payments result in 26 payments yearly (equivalent to 13 monthly payments), significantly reducing interest and loan term.
What's the difference between payment frequencies?
Monthly: 12 payments/year, Bi-weekly: 26 payments/year, Weekly: 52 payments/year. More frequent payments save interest and time.
How accurate is this calculator?
Very accurate for estimates. Actual payments may vary slightly due to lender-specific calculations, rounding, and exact payment dates.