Using Our Mortgage Calculator

Our calculator is quite simple and straight forward to use. The information it provides should give you some solid insight into your proposed home mortgage.

The first step is to enter your mortgage details into the fields:

  • Purchase Price - The price that you will pay for your home
  • Down Payment - The amount of money that you will be putting down yourself, generally this needs to be at least 10% of the purchase price
  • Term (Years) - The number of years that your mortgage will run over, 30 years is standard
  • Interest Rate - The interest rate or annual percentage rate (APR) that you will pay on the mortgage
  • Property Tax (Per Year) - If you would like to add in taxes to the equation, enter whatever you estimate they will come to each year
  • Property Insurance (Per Year) - If you would like to add insurance to the equation, enter whatever you estimate it will cost each year
  • PMI - PMI or Private Mortgage Insurance is generally required if you are financing more that 80% of the value of your home. Enter the PMI % here. Once the remaining principal on your loan drops below 80% of the purchase price, PMI will be dropped from your monthly payments
  • Mortgage Start Date - This is the day that you sign your mortgage, the first payment will come one month later

Once you enter your details click "Calculate" and your mortgage information will be generated.

Understanding the Results

There are three main sections to the results:

Mortgage Summary

This section is really broken in two, the left side gives you a brief rundown on the main numbers you need to know, the monthly payment, loan amount, total cost and pay-off date. This is all the information that most people will want or need.

The right side of the mortgage summary section provides a breakdown of the costs over the term of your mortgage so that you can easily see what contributes to your payments. The totals for principal, interest, tax, insurance and PMI are all provided in table and chart form.

Amortization Chart

Directly below the mortgage summary information is a chart that visually displays the yearly amortization over the life of your mortgage. The light blue/grey at the top of the bars represents the tax, insurance and PMI that you would pay that year, the blue in the middle of the bars represents the interest you would pay that year and the dark blue at the bottom of the bars represents the principal that you would pay that year. Finally, the black line shows the balance remaining on the mortgage at the end of the year.

Hover your mouse over any part of the chart for a tooltip that contains the exact values.

Amortization Tables

The final section is the amortization tables, there are two tabs here, the first shows your mortgage amortized yearly and the second shows the monthly amortization for people who need full details.

Each line on these tables gives you a snapshot of your mortgages position at the end of the specified year or month and tells you exactly how much principal, interest and tax/insurance/PMI you would pay and the remaining balance on the mortgage at that point in time.

Final Note

While this mortgage calculator should be highly accurate and give you a solid idea about the costs of a proposed mortgage, it should not be relied upon to make your final decision. Always talk to your lender directly and fully understand what you are getting into before signing a mortgage contract.


Purchase Price Down Payment
Term (Years) Interest Rate
Property Tax (Per Year) Property Insurance (Per Year)
PMI Mortgage Start Date
Mortgage Summary

Monthly payment
($1,593.27 after May 2023)

Loan Amount

Over 360 Payments

Oct 2046
Pay-off Date

Cost Breakdown of $580,981.76 Over 30 Year Mortgage Period

Mortgage Amortization Chart
YearPrincipalInterestTax, Insurance & PMITotalBalance
Totals: $225,000.00 $209,825.51 $146,156.25 $580,981.76  
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