Mortgage Calculator

Calculate monthly mortgage payments with down payment, PMI, and a full amortization schedule. Supports multiple loan terms and down payment options.

How to Use the Mortgage Calculator

  1. Enter the home purchase price.
  2. Set your down payment as a dollar amount or percentage.
  3. Enter the annual interest rate and select your loan term.
  4. Optionally adjust the PMI rate (applies when down payment is less than 20%).
  5. Click Calculate to see your monthly payment breakdown and amortization schedule.

What is PMI?

Private Mortgage Insurance (PMI) is required by most lenders when your down payment is less than 20% of the home price. PMI protects the lender in case of default. Once your loan-to-value ratio drops below 80%, PMI is typically removed. Common PMI rates range from 0.3% to 1.5% annually.

Features

  • Down payment in dollars or percentage
  • Automatic PMI calculation when LTV exceeds 80%
  • Full amortization schedule with PMI column
  • Support for 15, 20, 25, and 30 year terms
  • Visual cost breakdown chart
  • Copy schedule as tab-separated data
  • 100% client-side for full privacy