Mortgage Calculator

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Mortgage Information

This is base value of your home which will be used to calculate the equity.
The is the amount of the purchase price you plan to pay as a down payment. You can enter by percent or dollar amount.
This is the total amount you will be borrowing from the lender for your mortgage. For a home purchase, the amount is the home price minus the down payment. For a refinance, the amount is usually the remaining balance of your current mortgage.
This is the equity of the home with new loan amount.
The number of months before your loan is paid off. For a 30 year mortgage, this would be 360 months, for a 15 year, 180, etc.
The interest rate of your loan as a percentage e.g. 3.875.
The primary loan will be used as the basis for comparison for all other loans.
Basic Purchase Refinance

Mortgage Payment Information

Principal & Interest:
This is the calculated monthly cost of principal and interest. Principal and interest make up the "P" and the "I" of the acronym "PITI".
This is the total amount of real estate taxes you pay in a year. Taxes are the "T" in "PITI".
This is the total amount of homeowners insurance you will pay in a year. Homeowners insurance is also sometimes referred to as hazard insurance. Insurance is the second "I" in "PITI".
Estimated Mortgage Insurance:
This is the estimated monthly cost of private mortgage insurance (PMI). This is generally only applicable if your loan to value (LTV) is greater than 80%. PMI is usually included in the monthly "PITI" total.
The monthly cost of Home Owners Association (HOA) dues. This mostly only applies to condominiums. HOA is usually included in the monthly "PITI" total.
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Total Monthly Payment

Loan Costs

Total Interest Paid:
This is the total interest you will pay over the life of the loan.
Total PMI Paid:
This is the total mortgage insurance you will pay before you can drop PMI at 22% equity.


Monthly Yearly
Total Interest:
Remaining Balance: