Mortgage tool
Mortgage Payment Calculator
Estimate a mortgage payment, total monthly housing cost, taxes, insurance, PMI, HOA dues, total interest, payoff timing, and a complete amortization schedule.
- No email required
- Calculates in your browser
- Editable assumptions
How to use: Replace the example values with the scenario you want to explore. Results update as you type. Open the detailed sections for assumptions, breakdowns, and schedules.
Privacy: Rich Direction does not connect your calculator entries to your email address by default. Calculator values are not used to create advertising audiences.
Questions this tool helps answer
Compare the result, cost, and tradeoffs.
- What is the estimated principal-and-interest payment and total monthly housing cost?
- How much interest is paid over the selected mortgage term?
- How could optional extra principal change payoff timing and total interest?
Method
How the calculation works
The required payment uses the fixed-rate amortizing-loan formula. Each schedule row applies interest to the beginning balance, then scheduled and optional additional principal. The final payment is reduced to avoid a negative balance.
Important definitions
Understand the result.
- Loan-to-value (LTV)
- The mortgage principal divided by the purchase price.
- PMI
- Private mortgage insurance entered as a direct monthly amount or an annual percentage estimate.
- Estimated equity
- Original purchase price minus the remaining balance; it does not assume property appreciation or selling costs.
Important limitations
Verify material decisions.
The estimate does not constitute a loan offer or approval. Actual payments can differ because of lender calculations, escrow changes, adjustable terms, taxes, insurance, PMI rules, fees, and payment timing.
Use the calculator as an educational comparison tool and confirm important figures with source documents, providers, lenders, taxing authorities, or qualified professionals as appropriate.