Mortgage Calculator
Overview
Buying a home is easier when you know the true monthly cost. This mortgage calculator estimates your payment with a complete breakdown of principal, interest, property taxes, home insurance, PMI, and HOA dues. Enter your home price, down payment, APR, and term to see the core P&I amount. Then add local tax rates, annual insurance, and optional PMI to reflect a real escrowed payment. You can also include extra monthly payments to see how much interest you'll save and how soon you can be debt-free. The tool generates a month-by-month amortization schedule, highlights the payoff date, and supports CSV export for planning. Everything runs in your browser—fast, private, and flexible.
About
About Mortgage Calculator
The calculator implements the closed-form mortgage payment formula and a month-level amortization loop. Interest is computed on the current balance; principal equals the payment minus interest, plus any extra payment. PMI is modeled as an annualized percentage of the outstanding balance and automatically removed at 80% LTV (or disabled if initial LTV ≤ 80%). By separating P&I from taxes, insurance, and HOA, the tool mirrors how lenders quote payments while letting you customize local assumptions.
Features:
- Complete payment breakdown: P&I, taxes, insurance, PMI, and HOA
- Automatic PMI removal at 80% LTV threshold
- Extra payment modeling with payoff acceleration
- Month-by-month amortization schedule with cumulative interest
- Interactive chart showing principal vs interest over time
- CSV export for detailed payment schedule
- Toggle between monthly and yearly chart views
- 100% client-side calculation for privacy
Regional Mortgage Calculators
This Mortgage Calculator works for every U.S. state — including Hawaii, Alabama, Maine, and Nebraska. Whether you are estimating payments for a home in Honolulu or comparing options in Birmingham, the math is the same: loan amount, interest rate, and term determine your monthly principal-and-interest payment. For local accuracy, use your lender's quoted rate and consider adding regional taxes and insurance to your budget. Try it for: Mortgage Calculator Hawaii, Mortgage Calculator Alabama, Mortgage Calculator Maine, and Mortgage Calculator Nebraska.
FAQ
Does this include taxes and insurance?
Yes—enter your annual amounts and they're prorated monthly. The calculator adds property taxes, home insurance, PMI (if applicable), and HOA dues to your principal and interest payment for a complete monthly housing cost.
How is PMI handled?
If your starting LTV is above 80%, PMI is added monthly until the balance falls to 80% of the home price. The calculator automatically removes PMI once you reach this threshold, just like real mortgages.
What if my interest rate is 0%?
Payments evenly retire principal over the term; interest is zero. The calculator handles this edge case by dividing the loan amount by the number of months.
Can I model bi-weekly payments?
Use extra payments to approximate bi-weekly by adding half a monthly payment each month. This simulates the effect of making 13 full payments per year instead of 12.
Is my data saved?
No. All calculations occur locally in your browser. No data is transmitted to any server or stored anywhere.
How accurate is the amortization schedule?
The calculator uses the standard mortgage payment formula (PMT = L × r / (1 − (1 + r)^(−n))) with monthly compounding. Results match what lenders use for fixed-rate mortgages.
Can I use this mortgage calculator for Hawaii, Alabama, Maine, or Nebraska?
Yes. The calculator works for any U.S. state, including Hawaii, Alabama, Maine, and Nebraska. Enter your loan amount, rate, and term to estimate monthly payments. If you want to reflect local taxes or insurance, add those to your budget separately.
Does this calculator account for regional mortgage rates?
It uses the interest rate you enter. Because rates vary by lender and region, enter a rate that reflects the offer you received in your state to see an accurate estimate.