Mortgage Calculator

Calculate your monthly mortgage payment including taxes, insurance, and PMI. Free mortgage calculator with amortization schedule and affordability analysis.

principal

loan

Result

1,516.96

Breakdown

Loan Amount
240,000

Frequently Asked Questions

How are monthly mortgage payments calculated?▼
Monthly mortgage payments use the amortization formula M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is the monthly interest rate, and n is the number of payments.
What is PMI and when do I need it?▼
PMI (Private Mortgage Insurance) is typically required when your down payment is less than 20% of the home price. It protects the lender, not you.

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