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Mortgage payment

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Your full monthly house payment, total interest, and how much extra principal payments save.

How this calculator works

Your total payment combines principal and interest (from the amortization formula), property tax, homeowners insurance, private mortgage insurance (PMI) when you put down less than 20%, and HOA dues. PMI falls off automatically once the balance reaches 78% of the original price. Adding extra principal each month shortens the loan and can save tens of thousands in interest.

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Mortgage affordabilityThe most house your income supports using the lender 28/36 guideline.Refinance break-evenFind out how many months it takes for a lower mortgage rate to pay back the closing costs, and what you save if you stay.Rent vs. buyCompare the full cost of renting and buying over time, including home value growth and what your down payment could earn if invested.

Disclaimer: These are ballpark estimates only. Real costs depend on your location, site conditions, materials, and the market. Get written quotes from licensed contractors and your lender before you set a budget.

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