Mortgage calculator
Monthly mortgage payment with tax, insurance and extra payments
How to use it
- Enter your numbers.
- The result updates as you type.
- Change any value to see a different outcome.
Questions
How is a mortgage payment calculated?
The principal and interest part uses the loan payment formula: loan × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the monthly rate and n the number of months. For $320,000 at 6.5% over 30 years that is about $2,023. Property tax, insurance, HOA and PMI are added on top.
When does PMI stop?
Private mortgage insurance usually applies while you owe more than 80% of the home’s value. This calculator stops PMI once the balance falls to 80% of the purchase price. Your lender’s rules may differ.
What does this calculator leave out?
Closing costs, points, rate changes on adjustable loans, and tax deductions. Treat the result as an estimate and ask your lender for a Loan Estimate.
Is anything I enter stored?
No. Calculations happen in your browser and nothing you type is sent or saved.
Is it free?
Yes, you can use it for free. A subscription removes limits and unlocks premium tools.