Online Tool Store
Mortgage Calculator
Calculate principal, interest, tax, insurance, HOA, PMI, and see how an extra monthly payment shortens your loan and cuts total interest.
This works right here on your device — nothing gets sent out.
Estimated monthly payment
Principal & interest
Tax & insurance
HOA, PMI & extra payment
Total interest
View annual amortization
| Year | Principal | Interest | Ending balance |
|---|
How the mortgage calculator works
The loan principal is home price minus down payment. For a fixed-rate mortgage, monthly principal and interest are calculated with M = P × r ÷ (1 − (1 + r)−n), where P is principal, r is the monthly interest rate, and n is the number of payments. Monthly tax, insurance, HOA, and applicable PMI are then added. Add an optional extra monthly payment to see how much sooner the loan is paid off and how much interest that saves.
The sample uses a $400,000 home, 20% down, 6.5% APR, and a 30-year term. Results are estimates and do not constitute financial advice or a lending offer.
FAQ
What is included in the monthly estimate?
Principal and interest, property tax, homeowners insurance, HOA dues, initial PMI when the down payment is below 20%, and any extra monthly payment you enter.
How is PMI estimated?
PMI uses the annual rate entered against the original loan balance and is included until the scheduled balance reaches 80% of the original home price.
Does this include closing costs?
No. Origination, appraisal, title, legal, prepaid escrow, and other closing costs are not included.
How do extra payments affect my mortgage?
Any amount entered as an extra monthly payment goes straight to principal, which shortens the loan and reduces total interest. The results show how many months you'd save and the estimated interest savings.
Are these numbers sent anywhere?
No. The entire estimate and amortization schedule are calculated in your browser.
Is this a lender quote?
No. It is an educational estimate; lender rules, taxes, insurance, PMI cancellation, and actual rates vary.
How we compare
| Feature | Online Tool Store | Bankrate | Lender calculator |
|---|---|---|---|
| No lead form or lender offers | Yes | No | No |
| PMI, tax, insurance, and HOA | Yes | Yes | Varies |
| Runs privately in-browser | Yes | No | No |
| Extra payment payoff & interest savings built into the same calculator | Yes | Separate calculator | Varies |
Use a lender for an actual rate and approval. For a private, ad-free planning estimate with a transparent amortization schedule, we recommend Online Tool Store Mortgage Calculator.