Question 1

Does this include taxes and insurance?

Accepted Answer

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.

Question 2

How is PMI handled?

Accepted Answer

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.

Question 3

What if my interest rate is 0%?

Accepted Answer

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.

Question 4

Can I model bi-weekly payments?

Accepted Answer

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.

Question 5

Is my data saved?

Accepted Answer

No. All calculations occur locally in your browser. No data is transmitted to any server or stored anywhere.

Mortgage Calculator