Advanced Mortgage Calculator with Taxes, PMI & Amortization
See your true monthly cost — including property tax, insurance, HOA, and PMI. Compare 15 vs 30 year, extra payments, and find out how much house you can afford.
30-year fixed
15-year fixed
Amortization schedule (principal & interest only)
| Period | Principal | Interest | Total paid | Balance |
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🏡 Affordability estimator (28/36 rule)
How this mortgage calculator works
This advanced mortgage calculator with taxes, PMI, and amortization gives you a complete picture of your monthly payment. It includes principal & interest, property tax, homeowners insurance, PMI, and HOA fees. Use the amortization schedule calculator to see exactly how each payment reduces your balance over time. The PMI calculator automatically cancels PMI at 78% LTV, saving you money. You can also add extra payments to see how much interest and time you save — a true extra payment mortgage calculator. Compare 15-year vs 30-year mortgage side by side, and use the affordability estimator to answer “how much house can I afford” based on the 28/36 rule.
Principal + interest
Property tax (annual/12)
Homeowners insurance
Private mortgage insurance
Homeowners association fees
Pay down faster
The 28/36 rule: your housing costs should not exceed 28% of gross income, and total debt payments should stay below 36%. Our affordability estimator applies this rule with your specific numbers.
Frequently asked questions
How is my monthly payment calculated?
We use the standard fixed-rate mortgage formula: M = P × r(1+r)^n / ((1+r)^n − 1). Then we add monthly taxes, insurance, PMI, and HOA.
When does PMI cancel?
PMI automatically cancels when your loan balance reaches 78% of the original home price (U.S. Homeowners Protection Act). We track this and show you the exact month.
How do extra payments help?
Extra payments reduce your principal faster, saving you interest and shortening your loan term. We recalculate the full amortization with your extra payment.
15-year vs 30-year: which is better?
15-year loans have higher monthly payments but much lower total interest. We show a side-by-side comparison with your exact numbers.
What does the total cost include?
Total cost includes all P&I, taxes, insurance, PMI, and HOA fees over the full loan term, minus any extra payment savings.