Mortgage Calculator
Calculate monthly mortgage payments including principal, interest, taxes, and insurance. View full amortization schedule and find affordable home prices.
Mortgage Calculator
Calculate monthly payments & amortization
Loan Details
$80,000
Additional Costs (Optional)
Total Monthly Payment
$2,628.97
Payment Breakdown
Loan Summary
Related Tools
Calculate your new salary after a hike with HRA, DA, allowances and bonus.
Project 8th CPC pay with city-based HRA, TA and arrears.
Estimate LIC policy maturity with bonus, loyalty, and payment frequency factors.
Break an amount into optimal bills/coins for USD, EUR, GBP, INR or custom sets.
Convert pay between annual, monthly, weekly, daily, and hourly amounts with explicit work assumptions.
Measure total return, ROI, and annualized growth from a starting investment and ending value.
Frequently Asked Questions
How is a mortgage payment calculated?
Monthly mortgage payment is calculated using the formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is number of payments.
What is PMI and when is it required?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price. It protects the lender if you default on the loan.
What costs are included in total monthly payment?
Your total monthly payment includes: Principal and Interest (P&I), Property Tax, Homeowner's Insurance, PMI (if applicable), and HOA fees (if applicable).
How much house can I afford?
A common guideline is the 28/36 rule: spend no more than 28% of gross income on housing costs and no more than 36% on total debt. Use our affordability calculator for personalized results.