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Mortgage Calculator

Free mortgage calculator with monthly payment, total interest, and full amortization schedule. Includes PMI, taxes, and insurance estimates. No signup required.

Formula

M = P × [r(1+r)^n] / [(1+r)^n - 1]

Example

A $400,000 home with 20% down at 7% for 30 years = $2,128/month P&I

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GET https://leadhunting.app/api/tools/mortgage-calculator

Frequently Asked Questions

How is the monthly mortgage payment calculated?

Using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is total number of payments.

What is PMI and when is it required?

Private Mortgage Insurance (PMI) is required when down payment is less than 20%. It typically costs 0.5-1% of the loan amount annually and can be canceled once you reach 80% LTV.

Does this calculator include taxes and insurance?

This calculator shows principal and interest. Use our PITI calculator for the full payment including property taxes and insurance.

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