La guía de abajo aún no está disponible en español y se muestra en inglés. La calculadora está totalmente traducida.
Cómo usar esta calculadora
- Choose your currency and enter the home price.
- Enter your down payment as a percentage of the price. Below 20% usually means private mortgage insurance (PMI) applies.
- Set the loan term (commonly 15 or 30 years) and the annual interest rate offered by your lender.
- Add yearly property tax and homeowners insurance, plus any monthly HOA dues, to see your full housing payment.
- Optionally add an extra monthly payment to see how much interest and time you can save.
Fórmula
The principal-and-interest portion uses the standard amortization formula, where L is the loan amount, r the monthly interest rate (annual rate ÷ 12) and n the number of monthly payments. Taxes, insurance, PMI and HOA are added on top.
M = L × r / (1 − (1 + r)^−n)
Total monthly = M + tax/12 + insurance/12 + PMI + HOA
Example calculation
- Home price $400,000 with 20% down → loan amount L = $320,000.
- Rate 6.5% per year → r = 0.065 ÷ 12 = 0.0054167; term 30 years → n = 360.
- M = 320,000 × 0.0054167 / (1 − 1.0054167^−360) ≈ $2,022.62 principal and interest.
- Add $4,800 ÷ 12 = $400 tax and $1,500 ÷ 12 = $125 insurance → about $2,547.62 per month.
How amortization works
With a fixed-rate mortgage, each monthly payment is the same, but its composition changes over time. Early payments are mostly interest because the balance is high. As the balance falls, more of each payment goes to principal.
The amortization schedule below the calculator shows this month by month and year by year, and you can download it as a CSV file to use in a spreadsheet.
Preguntas frecuentes
What is included in a mortgage payment?
Most lenders collect principal and interest plus escrow for property taxes and homeowners insurance (often called PITI). If your down payment is under 20% on a conventional loan you may also pay PMI, and condo or community owners may pay HOA dues separately.
How is PMI calculated here?
PMI is estimated as an annual percentage of the original loan amount (typically 0.3%–1.5%), divided by 12. It is shown until your balance falls to 78% of the original home value, when US lenders must cancel it automatically on conventional loans.
Do extra payments really save money?
Yes. Extra payments go directly to principal, which reduces the balance that interest is charged on. Even small extra amounts can cut years off a 30-year loan. Check that your lender applies extra payments to principal and has no prepayment penalty.
Is a 15-year or 30-year mortgage better?
A 15-year loan has a higher monthly payment but usually a lower rate and far less total interest. A 30-year loan keeps the payment lower and leaves more monthly flexibility. Compare both with this calculator to see the trade-off.
Does this work for countries outside the US?
The amortization math is universal, so the principal-and-interest figure applies anywhere with a fixed-rate loan and monthly payments. PMI and the 78% rule are US conventions; set the PMI rate to 0 if they do not apply to you. Some countries (e.g. Canada) compound mortgage interest semi-annually, which slightly changes the result.