Finance Calculators
Mortgage Calculator
Estimate mortgage principal and interest plus user-entered tax, insurance, PMI, and HOA costs.
Fixed-rate mortgage and housing-cost estimate
Calculate principal and interest, then keep user-entered tax, insurance, PMI, and HOA estimates visible as separate monthly amounts.
Subtracted from home price to determine the modeled loan principal.
Nominal annual rate used for principal and interest only.
User-entered estimate divided by 12; no local tax data is loaded.
User-entered estimate divided by 12; actual premiums can change.
Enter a lender or insurer estimate. This calculator does not derive PMI or a cancellation date.
Enter zero when no homeowners association dues apply.
Calculation assumptions
- *Models a fixed-rate, fully amortizing mortgage with principal-and-interest payments at month-end.
- *The nominal annual interest rate is divided by 12; adjustable rates, balloon payments, points, and closing costs are excluded.
- *Property tax and insurance are annual user estimates divided by 12. PMI and HOA are user-entered monthly estimates.
- *The added housing costs are not treated as guaranteed escrow amounts and are excluded from loan amortization.
- *Internal P&I calculations remain unrounded; currency displays use cents and the final payment is reconciled to zero.
Enter your values and press Calculate Mortgage Estimate.
Results and breakdowns will appear here after a valid calculation.
Mortgage payment and amortization method
Loan principal equals home price minus down payment. The regular month-end P&I payment is M = P x r x (1 + r)^n / ((1 + r)^n - 1), using monthly rate r and n monthly payments. At 0%, principal is divided evenly by n.
The schedule uses unrounded balances and adjusts the final P&I payment for any sub-cent remainder. Property tax, homeowners insurance, PMI, and HOA estimates never reduce principal and do not change scheduled interest.
Verified principal-and-interest example
A $300,000 principal at 6% for 30 years produces an estimated monthly P&I payment of $1,798.65. The first payment includes $1,500.00 interest and about $298.65 principal. The full unrounded schedule estimates $347,514.57 of total interest and ends at zero.
If annual property tax is $3,600, annual homeowners insurance is $1,200, monthly HOA dues are $150, and PMI is $0, the added monthly estimates total $550. The estimated combined monthly housing payment is then $2,348.65.
Housing-cost and disclosure limitations
Tax, insurance, PMI, and HOA values are supplied by the user. Calzivo does not load local tax records, insurer quotes, lender PMI rules, escrow requirements, cancellation dates, points, fees, or current market rates.
Calculation methodology is maintained by Calzivo and checked against the sources listed below. Actual lender figures may differ. Review the official Loan Estimate and Closing Disclosure rather than treating this educational calculation as approval, affordability advice, or a lender quote.
Quick answers
What this calculator answers
- Result: Separates fixed principal and interest from user-entered monthly estimates for property tax, insurance, PMI, and HOA dues.
- Method: Uses a fixed-rate month-end amortization schedule with an explicitly reconciled final P&I payment.
- Scope: Educational estimate only, not an affordability decision, lender quote, approval, tax database, or live mortgage-rate tool.
- Compare borrowing cost: Use the APR Calculator to model how an upfront finance charge can affect annualized borrowing cost. APR Calculator
Transparency note
Accuracy and limitations
Calzivo tools are built for practical estimates, conversions, and checks. Some tools use standard formulas or simplified assumptions, and results can be affected by input accuracy, rounding, units, local rules, or changing official requirements.
Finance results are planning estimates, not financial advice. Actual costs or returns can change because of fees, taxes, rates, timing, provider rules, and personal circumstances.
Reference check
Sources and references
These references provide background context for the topic. They do not replace official advice or documents for personal decisions.
- How do mortgage lenders calculate monthly payments?
Consumer Financial Protection Bureau
- Principal and interest payment versus total monthly payment
Consumer Financial Protection Bureau
- Loan Estimate Explainer
Consumer Financial Protection Bureau
How to Use This Tool
Use these steps to enter the right inputs and interpret the result correctly.
Enter home price, down payment, fixed annual rate, and loan term.
Optionally enter your own annual tax and insurance estimates plus monthly PMI and HOA amounts.
Compare principal and interest with the estimated total, then review the official Loan Estimate and Closing Disclosure.
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Related Guides
Background reading and explanations related to Mortgage Calculator.
How to Calculate EMI (Step-by-Step + Real Loan Examples)
A step-by-step guide to loan math.
APR vs Interest Rate Explained
Understand interest rate, APR, fees, and why monthly payment still matters.
Loan Eligibility Factors Explained
See how income, obligations, tenure, rates, and lender assumptions affect eligibility estimates.
Frequently Asked Questions
Common questions about Mortgage Calculator and how to read the result.
What is included in the estimated total monthly payment?
It adds fixed principal and interest to the annual tax and insurance amounts divided by 12, plus user-entered monthly PMI and HOA estimates.
Are taxes and insurance treated as escrow?
No. They are simple user-entered monthly estimates. Whether a lender collects them through escrow depends on the transaction and lender requirements.
How is PMI calculated?
It is not calculated. Enter a monthly estimate from a relevant lender or insurer. Actual PMI depends on the loan, down payment, lender, insurer, and borrower profile.
What happens when down payment equals home price?
The modeled loan principal and P&I payment are zero. Any entered tax, insurance, PMI, or HOA values remain separate ownership-cost estimates.
Is mortgage interest rate the same as APR?
No. This calculator applies the entered interest rate to principal. APR can include eligible finance charges and other transaction-specific borrowing costs.
Is this mortgage estimate a lender approval?
No. It is an educational estimate and does not assess income, credit, eligibility, underwriting, property value, or affordability.