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Calcimator

Complete Mortgage Calculator

Comprehensive mortgage and home buying calculator. Calculate monthly payment, affordability, closing costs, PMI, and compare 15 vs 30-year terms. Includes rent vs buy analysis, refinance calculator, and amortization schedule.

Inputs

$

Purchase price of the home

%

Down payment as percentage of home price (< 20% requires PMI)

%

Annual mortgage interest rate

$

Additional principal payment each month

Summary

Total Monthly Payment

$2,427.62

Principal & Interest$2,022.62
Property Tax (Monthly)$163.33
Insurance (Monthly)$241.67
PMI (Monthly)$0
Loan Amount$320,000
Down Payment$80,000
Total Cash Needed$89,200
Estimated Closing Costs$9,200
Total Interest Paid$408,142
Total Loan Cost$728,142
PMI RequiredNo
Interest Saved (Extra Payments)$0
Years Saved0 years
15-Year Payment$2,787.54
30-Year Payment$2,022.62
Interest Saved (15 vs 30)$226,385
Max Affordable Home$414,315
Max Monthly Payment$2,500
Refinance Savings$0
Refinance Breakeven0 months
RecommendationRenting is better
Buying Breakeven Year0
StateCO
Property Tax Rate0.49%

Principal vs Interest by Year

Monthly Payment Breakdown

15 vs 30 Year Comparison

Amortization Schedule

360 rows
MonthPaymentPrincipalInterestBalance
1$2,022.62$289.28$1,733.33$319,710.72
2$2,022.62$290.85$1,731.77$319,419.86
3$2,022.62$292.43$1,730.19$319,127.44
4$2,022.62$294.01$1,728.61$318,833.43
5$2,022.62$295.6$1,727.01$318,537.82
6$2,022.62$297.2$1,725.41$318,240.62
7$2,022.62$298.81$1,723.8$317,941.8
8$2,022.62$300.43$1,722.18$317,641.37
9$2,022.62$302.06$1,720.56$317,339.31
10$2,022.62$303.7$1,718.92$317,035.62
11$2,022.62$305.34$1,717.28$316,730.27
12$2,022.62$307$1,715.62$316,423.28
How to Use This Calculator
  1. Enter your starting values to generate a projected timeline or schedule. The calculator will build a period-by-period breakdown so you can see how values change over time.
  2. Calculation Mode — Choose what you want to calculate Choose from: Calculate Monthly Payment, How Much Can I Afford?, Should I Refinance?, Rent vs Buy. default: 0.
  3. Home Price — Purchase price of the home Use the slider for quick adjustments or type a precise value. Accepts values from $50,000 to $2,000,000 (default: $400,000).
  4. Down Payment — Down payment as percentage of home price (< 20% requires PMI) Use the slider for quick adjustments or type a precise value. Accepts values from 0 % to 50 % (default: 20 %).
  5. Interest Rate — Annual mortgage interest rate Use the slider for quick adjustments or type a precise value. Accepts values from 2 % to 12 % (default: 6.5 %).
  6. Loan Term — Length of the loan in the specified time unit. Choose from: 15 years, 20 years, 30 years. default: 30.
  7. State — For property tax and closing cost estimates Choose from: Alaska (AK), Alabama (AL), Arkansas (AR), Arizona (AZ), California (CA), Colorado (CO), Connecticut (CT), District of Columbia (DC), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Iowa (IA), Idaho (ID), Illinois (IL), Indiana (IN), Kansas (KS), Kentucky (KY), Louisiana (LA), Massachusetts (MA), Maryland (MD), Maine (ME), Michigan (MI), Minnesota (MN), Missouri (MO), Mississippi (MS), Montana (MT), North Carolina (NC), North Dakota (ND), Nebraska (NE), New Hampshire (NH), New Jersey (NJ), New Mexico (NM), Nevada (NV), New York (NY), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Tennessee (TN), Texas (TX), Utah (UT), Virginia (VA), Vermont (VT), Washington (WA), Wisconsin (WI), West Virginia (WV), Wyoming (WY). default: 5.
  8. Extra Monthly Payment — Additional principal payment each month Use the slider for quick adjustments or type a precise value. Accepts values from $0 to $2,000 (default: $0).
  9. Expand "Advanced Options" for additional fine-tuning. These optional inputs let you model more specific scenarios:
  10. Monthly HOA Fee — enter a dollar amount. Accepts values from $0 to $2,000 (default: $0).
  11. Annual Household Income — For affordability calculation Accepts values from $0 to $2,000,000 (default: $100,000).
  12. Monthly Debt Payments — Car loans, student loans, credit cards, etc. Accepts values from $0 to $20,000 (default: $500).
  13. Max Debt-to-Income Ratio — Lenders typically allow 36-43% Accepts values from 20 % to 50 % (default: 36 %).
  14. Current Loan Balance — For refinance calculation Accepts values from $0 to $2,000,000 (default: $0).
  15. Current Interest Rate — Your current interest rate. Accepts values from 0 % to 15 % (default: 7.5 %).
  16. Current Monthly Payment — enter a dollar amount. Accepts values from $0 to $20,000 (default: $0).
  17. Years Remaining on Current Loan — enter a numeric value. Accepts values from 1 to 30 (default: 25).
  18. Current Monthly Rent — For rent vs buy comparison Accepts values from $0 to $10,000 (default: $2,000).
  19. Annual Rent Increase — enter a percentage value. Accepts values from 0 % to 10 % (default: 3 %).
  20. Home Appreciation Rate — enter a percentage value. Accepts values from -5 % to 10 % (default: 3 %).
  21. Investment Return Rate — Expected return if investing down payment instead Accepts values from 0 % to 15 % (default: 7 %).
  22. Years to Compare — enter a numeric value. Accepts values from 1 to 30 (default: 10).
  23. Once all inputs are set, review your results in the Results panel. Here's what each output means:
  24. Total Monthly Payment — P&I + taxes + insurance + HOA + PMI This is the primary result of this calculator.
  25. Principal & Interest — shown as a dollar amount.
  26. Property Tax (Monthly) — shown as a dollar amount.
  27. Insurance (Monthly) — shown as a dollar amount.
  28. PMI (Monthly) — shown as a dollar amount.
  29. Loan Amount — shown as a dollar amount.
  30. Down Payment — shown as a dollar amount.
  31. Total Cash Needed — Down payment + closing costs
  32. Estimated Closing Costs — shown as a dollar amount.
  33. Total Interest Paid — shown as a dollar amount.
  34. Total Loan Cost — shown as a dollar amount.
  35. PMI Required — your calculated result.
  36. Interest Saved (Extra Payments) — shown as a dollar amount.
  37. Years Saved — shown as a numeric value.
  38. 15-Year Payment — shown as a dollar amount.
  39. 30-Year Payment — shown as a dollar amount.
  40. Interest Saved (15 vs 30) — shown as a dollar amount.
  41. Max Affordable Home — shown as a dollar amount.
  42. Max Monthly Payment — shown as a dollar amount.
  43. Refinance Savings — shown as a dollar amount.
  44. Refinance Breakeven — shown as a numeric value.
  45. Recommendation — your calculated result.
  46. Buying Breakeven Year — shown as a numeric value.
  47. State — your calculated result.
  48. Property Tax Rate — shown as a numeric value.
  49. Scroll down to explore 3 charts (Principal vs Interest by Year, Monthly Payment Breakdown, 15 vs 30 Year Comparison) for a visual breakdown of the data.
  50. Check the Amortization Schedule for a detailed row-by-row breakdown. This is useful for spotting trends or finding values at specific points.
  51. Explore the related calculators below if you need deeper analysis or want to approach this topic from a different angle.
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