Use this calculator for a complete breakdown of your mortgage, including principal, interest, property taxes, insurance, and PMI (Private Mortgage Insurance).
*** For 1-3, you may leave one space blank, and it will auto-fill.***
1. Enter the price of the home you are looking to buy.
2. Enter the down payment as a percent of the purchase price.
3. Enter the amount of the mortgage loan.
4. Enter the number of payments in months. It will be 180 for a 15-year mortgage and 360 for a 30-year mortgage.
5. Enter the interest rate for the mortgage.
6. Leave points at zero.
7. Enter annual property tax amount.
8. Enter homeowners insurance premium.
9. Enter the PMI (Private Mortgage Insurance) percentage.
10. Leave payment at ‘End-of-Period’.
11. Click ‘Calc’ button.
Once calculated, you’ll see the monthly payment, total interest cost, and total principal and interest cost. You will need to click on ‘Payment Schedule’ to see the full monthly payment. The monthly payment displayed by the calculator is only the principal and interest for the loan.
Click on ‘Payment Schedule’ to see the full payment schedule (including homeowner’s insurance, property taxes, and PMI) and the amortization of the mortgage during the life of the loan.