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Mortgage Calculators
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Mortgage PITI
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| How much will my actual mortgage payment be, including taxes and insurance? |
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Calculate the monthly payments for a mortgage including principal, interest, taxes and insurance (PITI). Enter your sale price, down payment, the interest rate and the term of the loan. This calculator will then show you the monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. Enter the anticipated costs for property tax, homerowner's insurance, and PMI (Private Mortgage Insurance) to get a much more accurate monthly mortgage payment than just principal and interest (P&I). You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the entire amortization schedule for your loan.
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Mortgage Payment
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| How much will my mortgage payments be? |
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Calculate the monthly payments for a mortgage loan. Enter your sale price, any down payment you're making, the interest rate and the term of the loan. This calculator will then show you the monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the amortization schedule for your loan.
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Mortgage Comparison
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| Help me compare mortgages with different terms. |
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Calculate and compare (formatted side by side) the monthly payments for up to 4 mortgage loans. Enter your sale price, any down payment you're making, the interest rate and the term of each loan. This calculator will then show you the monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time.
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Mortgage Refinance
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| How could refinancing my mortgage affect my payment or payoff time? |
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Use this calculator to help determine if you should refinance your mortgage. Enter your current mortgage principal and interest payment, your current mortgage balance, the new interest rate, term of the refinanced loan, points and closing costs. This calculator will then show you the new monthly principal and interest payment amount, the amount of money you can save each month and how many months you will pay on the new loan before you actually start saving money (months to break even). (Note: this calculator may show negative monthly savings and months to break if your monthly payment actually goes up. That may happen if the interest rate is higher or the length of your refinanced loan is shorter - for instance, if you refinance a 30 year loan to a 15 year loan.) You can display and/or print the amortization schedule for your loan.
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Mortgage Refinance Comparison
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| Help me compare mortgage refinances with different terms. |
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Calculate and compare (formatted side by side) up to 4 mortgage refinance loans to help determine if you should refinance your mortgage. Enter your current mortgage principal and interest payment, your current mortgage balance, the new interest rate, term of the refinanced loan, points and closing costs. This calculator will then show you the new monthly principal and interest payment amount, the amount of money you can save each month and how many months you will pay on the new loan before you actually start saving money (months to break even). (Note: this calculator may show negative monthly savings and months to break if your monthly payment actually goes up. That may happen if the interest rate is higher or the length of your refinanced loan is shorter - for instance, if you refinance a 30 year loan to a 15 year loan.)
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Adjustable Rate Mortgage (A.R.M.)
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| How much might my payments be with an adjustable rate mortgage? |
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Calculate the monthly payments for an adjustable rate mortgage (A.R.M.) loan. Note that this calculator is designed to show you the worst case scenario or maximum possible payout for an A.R.M., which is not likely to actually happen. The calculator has the interest rate always go up after the minimum length between steps and it always goes up the maximum step percent until the interest rate reaches the maximum. Enter your sale price and any down payment you're making. Then enter the initial fixed interest rate and the guaranteed fixed rate length, the maximum interest rate adjustment and the minimum length of time between adjustments, and the maximum interest rate for the loan. Also enter the length of the entire loan. This calculator will then show you the initial fixed rate monthly principal and interest payment, your maximum monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the amortization schedule for your loan.
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A.R.M. Comparison
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| Help me compare adjustable rate mortgages with different terms. |
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Calculate and compare (formatted side by side) the monthly payments for up to 4 adjustable rate mortgage loans. The calculator has the interest rate always go up after the minimum length between steps and it always goes up the maximum step percent until the interest rate reaches the maximum. Therefore, this calculator is designed to show you the worst case scenario or maximum possible payout for an A.R.M., which is not likely to actually happen. Enter your sale price, any down payment you're making, the initial fixed interest rate and the guaranteed fixed rate length, the maximum interest rate adjustment and the minimum length of time between adjustments, the maximum interest rate and the entire length of each loan. This calculator will then show you the initial fixed rate monthly principal and interest payment, your maximum monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time.
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Bi-Weekly Mortgage Payment
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| How much will my payments be with a true bi-weekly mortgage loan? |
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Calculate the payment amount for a bi-weekly (every 2 weeks) mortgage loan. Bi-Weekly mortgages may work well if you get paid every 2 weeks (i.e. every other Friday) and want to make a payment on your home each payday instead of just once a month. Note that this is a true bi-weekly calculation amortized over the length entered. It is not necessarily the same as paying half a monthly mortgage payment every 2 weeks, which would pay the loan sooner than its original length. Enter your sale price, any down payment you're making, the interest rate and the length of the loan. This calculator will then show you the bi-weekly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to add to each bi-weekly payment to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the amortization schedule for your loan.
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Bi-Weekly Mortgage Comparison
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| Help me compare bi-weekly mortgages with different terms. |
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Calculate and compare (formatted side by side) the payment amounts for up to 4 bi-weekly mortgage loans. Enter your sale price, any down payment you're making, the interest rate and the term of each loan. This calculator will then show you the bi-weekly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter an additional amount you intend to add to each payment to work down your principal and the calculator will show you the anticipated payoff time.
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Interest-Only Mortgage Payment
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| How much will my payments be with an interest-only mortgage? |
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Calculate the payment amount for an interest-only mortgage loan. An interest-only loan pays no principal in the early years of the loan then converts to a traditional amortized loan for the remainder of the mortgage length. The payments are lower during the interest-only period since no principal is being paid. The payment goes up sharply after the interest-only period since you must pay the balance of principal plus interest during the remaining loan years. Enter your sale price, any down payment you're making, the length of the loan, and the points and closing costs. Then enter the interest rates, lengths, and any additional principal amounts you plan to pay each month for the interest-only and amortized periods of the loan. This calculator will then show you the monthly payment amounts for the interest-only and amortized periods. It will also calculate the total amount of interest you will pay, the total amount of money you will spend over the life of the loan, and the anticipated payoff time. You can also display and/or print the full amortization schedule for your loan.
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Interest-Only Mortgage Comparison
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| Help me compare interest-only mortgages with different terms. |
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Calculate and compare (formatted side by side) the payment amounts for up to 4 interest-only mortgage loans. Enter your sale price, any down payment you're making, the interest rates and the lengths for the interest-only and amortized periods for each loan. This calculator will then show you the interest-only and amortized (after interest-only period) payment amounts, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter additional payment amounts during the interest-only and amortized periods and the calculator will show you each loan's anticipated payoff time.
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Balloon Payment
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| How much will my monthly payments and payoff amount be with a balloon mortgage? |
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Calculate the monthly payments for a balloon mortgage loan. Enter your sale price, any down payment you're making, the interest rate, the length of balloon payments, and the amortized length used to calculate the monthly payment. This calculator will then show you the monthly principal and interest payment, the final balloon payment amount, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to pay each month to work down your principal to reduce the final balloon payment amount. You can display and/or print the amortization schedule for your loan.
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Balloon Payment Comparison
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| Help me compare balloon mortgages with different terms. |
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Calculate and compare (formatted side by side) the monthly payments and final balloon payment amount for up to 4 balloon mortgage loans. Enter your sale price, any down payment you're making, the interest rate, the length of balloon payments, and the amortized length used to calculate the monthly payment. This calculator will then show you the monthly principal and interest payment, the final balloon payment amount, the total amount of interest you will pay and the total amount of money you will spend over the life of each loan. You can also enter the points and other closing costs and roll those into your loans. You can even enter an additional payment amount you intend to pay each month to work down your principal to reduce the final balloon payment amount.
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Mortgage Qualification
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| What home price can I afford? |
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Use this calculator to help you determine the most expensive house you would qualify for. Enter your monthly income, all monthly debt expenses (credit card payments, car payments, loan payments, and any other expenses), and information about your mortgage (down payment amount, loan term, interest rate, property tax rate, private mortgage insurance (PMI), and monthly association dues). This calculator will then show you the highest monthly payment you can afford and the highest priced home you can afford to keep your total monthly housing expenses less than 28% and your debt ratio less than 36% of your total gross monthly income. In general, most lenders do not want your total monthly housing expenses (including property taxes, private mortgage insurance (PMI), and association dues) to exceed 28% of your total gross monthly income. And your total debt ratio cannot exceed 36% of your total gross monthly income.
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Mortgage Early Payoff
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| I'm interested in paying off my mortgage early, how much additional should I pay each month to pay off my home by the time I choose? |
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How much additional would you need to pay each month to pay off a home mortgage in a certain number of years and months? Run this calculator to find out your mortgage early payoff time. Enter your mortgage balance, the principal and interest amount of your current monthly payment, the interest rate, and the desired number of years and months to pay off the home and this Mortgage Early Payoff calculator will show you how much additional you must pay each month to meet that payoff time. It also shows how much time and money you will save by paying off the mortgage early vs. paying as scheduled.
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Existing Mortgage Payoff
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| How will my existing mortgage be affected if I make extra mortgage payments to pay down the mortgage? |
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If you want to pay down a loan ahead of schedule by adding a fixed amount to each payment, this extra payment calculator will show you how much quicker you'll reach loan pay off time and how much money you'll save. Almost every other loan pay off calculator out there uses initial loan amount, rate, date and term of loan. They assume you have not made any additional payments to your principal. If you have, your balance will not match and your answer will not be accurate. This one is smart enough to take that into consideration and use only your current balance, loan rate and payment amount. Accurate data to begin with gives an accurate answer. (Thanks user Jeff for noticing and pointing that out!)
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Existing Mortgage Analysis
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| How long have I been paying my mortgage? How much have I paid and how much more remains? |
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Are you paying on a loan and wondering how long you've been paying or how much longer you'll be paying? Just enter your loan balance, interest rate, the original length of the loan, and the current monthly payment and this calculator will show you how long you've been paying and the remaining time to payoff, as well as how much interest and the total paid so far and how much interest and the total remaining to be paid.
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Debt Ratio
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| What is my debt to income ratio or debt ratio? |
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Calculate your debt to income ratio or what percentage of your monthly income is used to pay fixed monthly costs. Enter your monthly income, monthly rent or mortgage expense, and other monthly expenses. This calculator will then show you your debt to income ratio which is the percentage your monthly income goes to pay monthly debts and expenses. In general, most mortgage lenders do not want your total monthly housing debt ratio or housing expenses (including property taxes, private mortgage insurance (PMI), and association dues) to exceed 28% of your total gross monthly income. And your total debt to income ratio percentage cannot exceed 36% of your total gross monthly income.
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Available Home Equity
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| How much equity do I have in my home and how much could I borrow? |
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Find out how much equity you currently have with your home or real estate and how much you could borrow against that equity. Enter your home or real estate's current market value, the amount of debt that is currently secured using the property as collateral, and the maximum percentage of market value you could borrow and let this calculator give you the numbers you need to make decisions regarding your home's equity.
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