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Home Buying Tool

Smart Mortgage Calculator

Real all-in payment with taxes, insurance & PMI. See how extra payments save years.

Loan Details
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All-In Cost Estimates (optional)
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ⓘ Affiliate Disclosure: YieldsHub may earn a commission if you click lender links and apply for a loan. This never affects your rate or the accuracy of our calculator. We only feature lenders we'd recommend to a friend.

💡 Your Rate May Be Higher Than Average

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Monthly Payment Breakdown
All-In Monthly Payment
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Principal + Interest + Tax + Insurance + PMI
Principal & Interest Only
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Core loan payment
Principal & Interest—
Property Tax (monthly est.)—
Home Insurance (monthly est.)—
PMI (until 20% equity)—
Loan Amount
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Total Interest
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Total Cost
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Payoff Date
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⚡ Payment Accelerator — Save Years with Extra Payments

Tap a button to see how much you'd save by adding extra to your monthly payment.

With Extra Payments
Years Saved
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Interest Saved
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New Payoff Date
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New Total Cost
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Total Principal Paid
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Total Interest Paid
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Interest as % of Total
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Year Principal Paid Interest Paid Balance Remaining Equity
🏦 Compare Live Mortgage Rates →

Takes 2 minutes  ·  No credit check to compare  ·  Real rates from top lenders

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Top Lenders — Compare Rates

LendingTree
Compare 50+ lenders in one place
Purchase & Refi
Rates from ~6.5%
Get Rates →
Credible
Real prequalified rates, no hidden fees
Purchase & Refi
Rates from ~6.6%
Get Rates →
Rocket Mortgage
Fast online approval, trusted nationwide
Purchase & Refi
Rates from ~6.7%
Get Rates →
Better.com
No origination fees, 100% online
Purchase & Refi
Rates from ~6.6%
Get Rates →
Rates shown are estimates based on current market averages and may vary. Clicking a lender link may earn YieldsHub a commission at no cost to you. Always verify your actual rate directly with the lender before making any financial decision.
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Mortgage Tips

  • Put 20% down to skip PMI entirely
  • Even $50/month extra cuts years off
  • Rate drops of 0.5% can save tens of thousands
  • Check your rate every 2–3 years for refi opportunities

Did You Know?

On a 30-year loan, you pay roughly 2× the home price by the time it's paid off — half goes to interest. Extra payments attack that directly.

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How to Use This Mortgage Calculator

Enter your home price, down payment, interest rate, and loan term. Add your estimated property tax rate and annual insurance to get the true all-in monthly cost. Use the Accelerator to see how extra payments change your payoff timeline.

What Is PMI?

PMI (Private Mortgage Insurance) is required by most lenders when your down payment is less than 20% of the home value. It protects the lender — not you — and typically costs 0.5% to 1.5% of the loan amount per year. This calculator automatically adds it when your down payment is below 20% and stops it once you've built 20% equity.

15-Year vs 30-Year Mortgage

A 15-year mortgage has a higher monthly payment but dramatically less total interest paid. A 30-year mortgage gives you a lower required payment but costs far more over the life of the loan. Use the loan term selector to compare both side by side.

Frequently Asked Questions

How much house can I afford?

A common rule is that your total housing payment (PITI — principal, interest, taxes, insurance) should not exceed 28% of your gross monthly income. On a $6,000/month gross income, that's $1,680/month. Use this calculator to find the home price that hits that target at current rates.

How much does a 1% rate difference actually matter?

On a $400,000 30-year mortgage, a 1% rate difference changes your monthly payment by roughly $220/month — and your total interest by about $80,000 over the life of the loan. Even a 0.5% improvement is worth shopping for. Always check rates at multiple lenders before committing.

When does PMI go away?

PMI is automatically removed once you reach 20% equity (your loan balance drops to 80% of the original purchase price). You can also request early removal if your home has appreciated and you have an appraisal proving 20% equity. Some lenders require a written request — it won't always happen automatically.