Mortgage Details

Required Inputs

Home Price

Down Payment

20% of home price

Interest Rate (%)

Loan Term (Years)

Property Tax (Annual)

Home Insurance (Annual)

Optional Inputs

PMI (if down payment < 20%)

Monthly Private Mortgage Insurance

HOA Fees (Monthly)

Mortgage Summary

Monthly Payment (P&I)

Total Monthly Payment

Loan Amount

APR (Annual Percentage Rate) ⓘ

0.000%

Interest Rate: 0.000%

Total Interest Paid

Total Cost

Payoff Date

Amortization Schedule (First 12 Months)

Month	Payment	Principal	Interest	Balance

Understanding Mortgages

How Mortgages Work

A mortgage is a loan used to purchase real estate. Your monthly payment typically includes: Principal & Interest (P&I), Property Tax, Home Insurance, and possibly PMI and HOA fees.

Down Payment Tips

20% down payment avoids PMI (Private Mortgage Insurance)
Larger down payment = lower monthly payment and less interest
FHA loans allow as little as 3.5% down
VA loans offer 0% down for eligible veterans

15-Year vs 30-Year Mortgage

30-Year: Lower monthly payment, more total interest
15-Year: Higher monthly payment, significantly less total interest
15-year rates are typically 0.5-0.75% lower than 30-year

Mortgage Calculator