Calculate mortgage payments, compare different loan terms, and analyze home loan affordability. Plan your home purchase with accurate mortgage calculations.
Enter your mortgage details and click calculate to see results
Monthly Payment = [P × R × (1+R)^N] / [(1+R)^N - 1]
Where P = Principal, R = Monthly Interest Rate, N = Number of Months
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home's value. It protects the lender in case you default on the loan.
A larger down payment reduces your loan amount, which means lower monthly payments and less interest paid over the life of the loan. It may also help you avoid PMI.
A 15-year mortgage has higher monthly payments but significantly less interest over the loan term. A 30-year mortgage has lower monthly payments but more total interest paid.