Mortgage Calculator
Advanced mortgage analysis with escrow, PMI, extra payments, payoff date, and amortization schedule.
Loan and property details
Escrow and fees
Monthly P&I:
Monthly escrow + fees:
Monthly PMI:
Total monthly payment:
Loan payoff date:
Total interest paid:
Total amount paid:
Total payments:
Amortization schedule
| # | Date | Payment | Principal | Interest | Extra | Balance |
|---|
What's included in this estimate
Beyond principal and interest, this calculator estimates escrow (property tax and homeowners insurance, plus any HOA dues) and PMI (private mortgage insurance, charged automatically when your down payment is below 20%). Adding extra monthly principal shortens the amortization schedule and reduces total interest paid, which is reflected in the payoff date and schedule below.
Frequently asked questions
Why is PMI included, and when does it go away? PMI protects the lender (not you) when your down payment is under 20% of the price. It typically drops off automatically once your loan balance falls to 78% of the original home value, though this calculator doesn't model that cutoff — treat the PMI figure as an ongoing estimate for the early years of the loan.
Why does my total interest look so high over 30 years? Interest compounds on a large starting balance for a long time — even a "reasonable" rate produces a large cumulative interest bill over three decades. Adding extra monthly principal (or choosing a shorter term) is the most direct way to reduce it.
Does the escrow amount change over time? In reality, property tax and insurance premiums usually rise over time and your escrow payment is periodically reanalyzed and adjusted by your servicer — this calculator assumes they stay constant for simplicity.