Mortgage Calculator
Estimate your monthly mortgage payment, including taxes, insurance and PMI.
This tool runs entirely in your browser. Your files are never uploaded to a server.
Property tax, insurance and PMI are added as simple monthly shares on top of principal and interest; they are not amortized and this is not a lender's official estimate.
1769.79
Principal & interest / mo
2161.46
Total monthly payment
357124.57
Total interest over term
778124.57
Total cost over term
280000.00
Loan amount
80.00%
Loan-to-value ratio
What this calculator does
Estimates a fixed-rate mortgage's monthly principal & interest payment, adds property tax, home insurance and PMI as monthly shares, and reports the loan amount, loan-to-value ratio, total interest and total cost over the full term.
How to use it
Enter the home price, a down payment as a percentage or a fixed amount, a nominal annual interest rate, a term in years up to 100, and optional annual property tax, annual home insurance and monthly PMI. Keep every monetary field in one currency.
Worked example
For a 350,000 home with a 20% down payment, a 280,000 loan at 6.5% over 30 years, 3,500 annual property tax and 1,200 annual insurance with no PMI, the estimated principal & interest payment is 1,769.79 per month, the total monthly payment is 2,161.46, total interest over the term is about 357,124.57, and total cost is about 778,124.57. Automated tests verify these figures.
Formula and loan-to-value
For loan amount L, monthly rate r and n monthly payments, principal & interest = L × r ÷ [1 − (1 + r)^−n]; at 0% interest the loan is divided evenly across the months. Loan-to-value = loan amount ÷ home price × 100 — a ratio many lenders use to decide whether private mortgage insurance is required, commonly above 80%.
What is added on top
Annual property tax and home insurance are divided by 12 and added to principal & interest; PMI is entered directly as a monthly amount. None of these three figures are amortized — each is a flat monthly share of the entered annual or monthly figure, not a lender's actual tax assessment, insurance premium or PMI schedule.
Assumptions and limits
The model assumes one constant nominal annual rate, monthly compounding, and every payment made in full for the entire term. It does not model adjustable rates, interest-only periods, closing costs, discount points, HOA dues, escrow shortages, automatic PMI cancellation once loan-to-value drops, or a lender's specific underwriting and rounding rules.
Currency and regional limits
The fields are currency-neutral: 350,000 can mean dollars, euros, lira or another unit, but every monetary field must use the same one. The entered rate is a nominal annual rate divided by 12, not necessarily a jurisdiction's APR/TAEG, effective cost disclosure or tax treatment.
Interpretation, sources and privacy
This is an educational estimate, not a loan offer, pre-approval, or financial, tax or legal advice. The payment formula and the loan-to-value/PMI convention were checked against Consumer Financial Protection Bureau mortgage and PMI guidance. Reviewed September 2026. Calculation runs locally in the browser; Quiklio does not upload the entered values. Confirm real terms with a lender's official Loan Estimate.
Frequently Asked Questions
- Why does the loan-to-value ratio matter?
- Loan-to-value is the loan amount divided by the home price. Many lenders require private mortgage insurance above roughly 80% loan-to-value; this tool does not calculate PMI for you, so enter it manually if it applies.
- What costs are left out of the total?
- Closing costs, discount points, HOA dues, escrow cushion adjustments, appraisal and inspection fees, and any rate changes are excluded — the total only reflects principal, interest, and the entered property tax, insurance and PMI shares.
- Is this the same as my lender's official quote?
- No. Lenders disclose an official Loan Estimate with an annual percentage rate, exact fees and escrow calculations; this tool uses the nominal rate you enter and a simplified monthly model, so treat the result as a planning estimate, not a quote.