Tiny Toolkit

Mortgage Calculator — Monthly Payment & Amortization Schedule

Estimate your monthly mortgage payment from home price, down payment, interest rate, and loan term. Optionally add property tax and insurance to see your complete monthly housing cost. A visual breakdown shows exactly how much of each payment goes to principal versus interest over the life of the loan.

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Frequently Asked Questions

What's included in the monthly payment?
The core payment is principal and interest (P&I), calculated from your loan amount, rate, and term. You can optionally add monthly property tax and insurance estimates to see your total housing cost.
What is PMI and when do I need it?
Private Mortgage Insurance is typically required when your down payment is less than 20% of the home price. This calculator doesn't include PMI, so factor in an extra $50–$200/mo if your down payment is below 20%.
How does the loan term affect my payment?
A 30-year term gives a lower monthly payment but much higher total interest. A 15-year term roughly doubles the monthly payment but can save tens of thousands in interest over the life of the loan.

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