Calculators › Mortgage Calculator
FinancingEstimate the full monthly payment on a rental or a home, including taxes and insurance, plus the total interest over the life of the loan. Enter the four basics and the payment updates as you type; open the details for taxes, insurance, and fees.
Loan basics
Only applied when your down payment is under 20%.
Extra toward principal each month. Shortens the loan and cuts interest.
Enter a home price and loan term to see the payment.
| Year | Interest | Principal | Balance |
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An estimate, not a loan offer. Actual rate, taxes, insurance, and PMI depend on your lender, location, and qualification.
The four basics set your principal and interest. The optional fields add the rest of what lenders call PITI: property taxes and homeowner's insurance, usually collected monthly into an escrow account, plus any HOA dues and private mortgage insurance. PMI typically applies when you put less than 20% down and falls off once you reach about 78% loan-to-value, so this tool only adds it below a 20% down payment.
On a $300,000 home with 20% down at 7% over 30 years, the loan is $240,000 and principal and interest run about $1,597 a month. Add $3,600 of annual taxes and $1,500 of insurance and the full payment is roughly $2,022. Over the life of the loan you would pay around $335,000 in interest, which is why even a small rate change moves the number so much.
Principal, Interest, Taxes, and Insurance, the four parts of a typical escrowed mortgage payment. This tool also lets you add HOA dues and PMI.
Private mortgage insurance generally applies when you put less than 20% down and can be removed once your loan balance reaches about 78% of the original value. This calculator only includes it below a 20% down payment.
Yes. Enter the investment terms your lender quotes. To analyze the deal itself, pair it with the Rental Property Calculator.
Quite a bit. Extra payments reduce the balance interest is charged on, so they compound into years off the loan and large interest savings over time.
Ready Utilities was founded by Cedrick Reese, a retired veteran and web developer who enjoys building free, user-friendly online tools that simplify everyday tasks. My journey began in the early 2000s with affiliate marketing and niche site development, which grew into a passion for creating practical digital utilities and calculators. After retiring, I earned a Computer Systems Technician certificate from UEI College, completed Electro-Mechanical Technologies at Tulsa Welding School, and finished the Carpentry program at Florida State College at Jacksonville. Today, I combine my technical background and craftsmanship by building furniture using traditional woodworking methods, gardening, and developing helpful online tools for users worldwide.