Mortgage Calculator

Calculate your monthly mortgage payment and see your full amortization schedule

Loan Details

Leave blank to auto-calculate (required if down payment < 20%)

Comparison Mode

What Is a Mortgage Calculator?

A mortgage calculator helps you estimate your monthly mortgage payment, including principal, interest, property taxes, insurance, and HOA fees. By entering your home price, down payment, interest rate, and loan term, you can see exactly how much your monthly payment will be and how much interest you'll pay over the life of the loan.

Why Use This Mortgage Calculator

Understanding your mortgage payment is crucial when buying a home. This calculator not only shows your monthly payment but also provides a complete amortization schedule, shows when PMI drops off (if applicable), and lets you compare different scenarios like 15-year vs 30-year mortgages or different down payment amounts. You can also see how extra payments can save you thousands in interest and shorten your loan term.

Understanding Your Mortgage Payment

Your total monthly mortgage payment typically includes four main components, often called PITI:

  • Principal: The amount that goes toward paying down your loan balance
  • Interest: The cost of borrowing money, paid to your lender
  • Property Taxes: Annual taxes on your property, typically collected monthly by your lender
  • Insurance: Homeowners insurance to protect your property

Additionally, if your down payment is less than 20%, you'll likely need to pay PMI (Private Mortgage Insurance), which protects the lender in case of default. PMI typically drops off once you reach 20-22% equity in your home. If your home is in an HOA community, you'll also need to budget for monthly HOA fees.

15-Year vs 30-Year Mortgage: Which Is Right for You?

The most common decision homebuyers face is choosing between a 15-year and 30-year mortgage:

30-Year Mortgage: Lower monthly payments make homeownership more affordable month-to-month, but you'll pay significantly more interest over the life of the loan. This is ideal if you want to keep monthly costs low or plan to invest the difference elsewhere.

15-Year Mortgage: Higher monthly payments but you'll build equity faster and save tens (or hundreds) of thousands in interest. This is ideal if you can comfortably afford the higher payment and want to own your home outright sooner.

How to Use the Mortgage Calculator

  • Enter your target home price or purchase price
  • Set your down payment as a dollar amount or percentage
  • Choose your loan term (15, 20, or 30 years)
  • Enter your interest rate (APR) - check current rates from lenders
  • Add your estimated property taxes (annual amount or percentage of home value)
  • Include homeowners insurance and HOA fees if applicable
  • Optionally use advanced settings to add extra payments or one-time payments
  • Click Calculate Mortgage to see your complete payment breakdown and amortization schedule
  • Use comparison mode to evaluate different scenarios side-by-side

This calculator helps you plan your home purchase with confidence. Understanding your total monthly payment, including all costs beyond just principal and interest, ensures you're not surprised after closing. Use the amortization schedule to see exactly how your loan balance decreases over time and how much equity you'll build.

Embed This Calculator on Your Site

Want to add this Mortgage Calculator to your website? Copy the snippet below and paste it into your page.

<iframe 
  src="https://tangibill.net/embed/mortgage?homePrice=400000&downPayment=80000&downPaymentType=dollar&loanTerm=30&interestRate=6.5&propertyTax=5000&propertyTaxType=dollar&homeInsurance=1200&hoaFees=0&pmi=&pmiOverride=false&showAdvanced=false&startDate=2026-03&extraMonthlyPayment=0&oneTimePayment=&oneTimePaymentMonth=12&propertyAppreciation=3&annualTaxIncrease=2&annualInsuranceIncrease=3&comparisonMode=none" 
  width="100%" 
  height="1400" 
  style="border:0;"
  title="Mortgage Calculator"
  loading="lazy">
</iframe>

The calculator will automatically adapt to your website's design.