Mortgage Calculator - Home Loan Payment Estimator with Amortization Schedule
Mortgage Calculator
Mortgage Payment Schedule:
Home Price
Down Payment
Loan Amount
Total Payment
Total Interest
Monthly Payment
Mortgage Payoff Date
Monthly Payment Breakdown
| Item | Monthly | Total |
|---|---|---|
| Mortgage Payment | ||
| Property Tax | ||
| Home Insurance | ||
| PMI | ||
| HOA Fee | ||
| Other Costs | ||
| Total Out-of-Pocket | With PMI: After PMI: |
Comprehensive Mortgage Payment Analysis - Yearly & Monthly Details
| No. of Instalment | Date | Total Out-of-Pocket | Principal | Interest | Principal Balance | Total Interest Paid | Total Principal Paid | Total P&I Paid | Total Balance Due | Interest Balance Due |
|---|
| Year | Date | Principal Balance | Total Interest Paid | Total Principal Paid | Total Payments Paid | Total Balance Due | Interest Balance Due |
|---|
Mortgage Payment Visualization - Balance, Interest & Payment Over Time
How to Use This Calculator
- Enter Basic Information: Input your home price, down payment, interest rate, and loan term
- Add Additional Costs: Include property taxes, insurance, PMI, HOA fees, and other monthly expenses
- Review Results: Analyze your monthly payments, total costs, and payment breakdown
- Explore Scenarios: Adjust values to compare different loan options and find the best fit
- Download Reports: Export detailed amortization schedules for your records
📊 Calculation Standards & Methodologies
Amortization Formula Standards
Source: Truth in Lending Act (TILA) - 12 CFR § 1026.17
Formula Used: M = P[r(1+r)^n]/[(1+r)^n-1]
Where: M = Monthly Payment, P = Principal, r = Monthly Interest Rate, n = Number of Payments
PMI Calculation Standards
Source: Homeowners Protection Act of 1998 (HPA)
Standard Rate: 0.3% - 1.5% of original loan amount annually
Removal Threshold: 78% LTV (automatic) or 80% LTV (borrower request)
Property Tax Estimation
Source: Tax Foundation, Local Assessment Data
National Average: 1.1% of assessed home value (varies by state: 0.3% - 2.5%)
Calculation: (Home Value × Tax Rate) ÷ 12 months
Authoritative References & Sources
- Consumer Financial Protection Bureau (CFPB): Official Home Buying Guide
- U.S. Department of Housing and Urban Development: HUD.gov - Housing Information
- Federal Housing Administration: FHA Loan Programs and Requirements
- Fannie Mae: Conventional Loan Guidelines
- Federal Reserve: Mortgage Shopping Tools (PDF)
- IRS Publication 936: Home Mortgage Interest Deduction
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