Mortgage Repayment Calculator

Estimate your monthly mortgage repayment with principal, interest, property tax, homeowners insurance, PMI, HOA fees, and optional extra payments. The calculator also shows total interest, payoff timing, and a year-by-year amortization table so the monthly payment is not the only number you see.

Core payment formula
M = P x r(1 + r)^n / ((1 + r)^n - 1)

Mortgage Repayment Calculator

PITI + extra payment
$
$
%
%
Annual property tax as a percent of the home price.
$
Annual homeowners insurance estimate.
%
Applied only when down payment is below 20%.
$
$
Optional extra amount used to estimate payoff time and interest savings.
Estimated monthly payment
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Loan amount
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Principal & interest
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Total interest
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Loan cost before taxes/fees
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Monthly Payment Breakdown

Separate principal and interest from the recurring ownership costs that often make the real monthly payment higher than the headline mortgage payment.

Principal & interest
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The standard amortized loan payment before taxes, insurance, PMI, or HOA fees.

Property tax
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Estimated monthly tax from the annual rate you entered.

Home insurance
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Annual insurance divided into a monthly escrow-style estimate.

PMI
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Estimated private mortgage insurance when the down payment is below 20%.

HOA fees
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Monthly homeowners association dues, if applicable.

Interest saved
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Estimated savings from the extra monthly principal payment.

Mortgage Repayment Calculator Examples

Load a common scenario to compare a standard 30-year loan, a low down payment with PMI, extra principal payments, or a shorter 15-year term.

$400,000 home with 20% down

A baseline monthly mortgage repayment with taxes and insurance but no PMI.

5% down payment with PMI

Shows how PMI and HOA fees can change the real monthly house payment.

$250 extra principal each month

Tests how an extra monthly payment may shorten payoff time and reduce total interest.

15-year mortgage comparison

Useful for comparing a higher monthly payment against lower lifetime interest.

Year-by-Year Amortization Table

The yearly table summarizes principal, extra payments, interest, and remaining balance so you can audit how the repayment plan changes over time.

Year Principal paid Extra paid Interest paid Ending balance

Mortgage Repayment Formula

The calculator uses the standard fixed-rate mortgage formula for principal and interest, then adds taxes, insurance, PMI, HOA fees, and optional extra principal payments.

Monthly principal and interest

M = P x r(1 + r)^n / ((1 + r)^n - 1)

M is monthly principal and interest, P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.

Loan amount

Loan amount = Home price - Down payment

The calculator treats the down payment as upfront equity and calculates repayment only on the financed amount.

PITI-style payment

Total monthly = P&I + tax + insurance + PMI + HOA + extra principal

Taxes, insurance, PMI, and HOA fees are estimates and may not match an actual lender escrow statement.

Extra payment effect

Interest saved = original interest - interest with extra payments

Extra payments are applied to principal each month after scheduled principal and interest.

How to Use the Mortgage Repayment Calculator

Use the tool as a planning estimate before comparing lender quotes, mortgage terms, or refinance scenarios.

1

Enter price and down payment

Use the purchase price and the amount you expect to pay upfront. The calculator derives the loan amount automatically.

2

Set rate and term

Choose a 30-year, 15-year, or other fixed repayment term and enter the annual interest rate quoted by the lender.

3

Add ownership costs

Include property tax, homeowners insurance, PMI, and HOA fees so the monthly payment estimate is closer to the real housing cost.

4

Test extra payments

Add an optional extra monthly principal payment to estimate interest savings and the shorter payoff timeline.

Mortgage Repayment Assumptions and Edge Cases

Mortgage calculators are estimates. These assumptions can change the real amount you pay.

PMI may stop later

This calculator estimates PMI from the starting loan-to-value ratio. Actual PMI cancellation rules depend on your loan type, payment history, and lender.

Taxes and insurance change

Property taxes and insurance premiums can rise over time, so escrow payments may change even when the fixed-rate loan payment stays the same.

Extra payments need lender handling

When making extra payments, confirm they are applied to principal rather than future scheduled payments.

APR is not the note rate

APR includes certain loan costs. For the monthly payment formula, use the interest rate on the mortgage note when possible.

Mortgage Repayment Calculator FAQ

Answers to common questions about monthly repayments, PITI, PMI, extra payments, and amortization.

A complete mortgage repayment calculator should show principal and interest, estimated property tax, homeowners insurance, PMI when applicable, HOA fees, total interest, and an amortization view.

The fixed-rate loan payment uses M = P x r(1 + r)^n / ((1 + r)^n - 1). The calculator then adds estimated monthly tax, insurance, PMI, HOA fees, and optional extra principal payments.

It covers the main payoff use case by letting you add extra monthly principal payments and estimate interest savings and payoff time. It does not model one-time lump-sum prepayments or changing interest rates.

Principal and interest are only the loan repayment. Property taxes, insurance, PMI, and HOA fees can add a meaningful amount to the monthly housing cost.

No. Use it for planning and comparison. Lender quotes can include closing costs, escrow rules, APR, fees, loan program limits, and underwriting assumptions that are not included here.

Compare the full payment before you shop by monthly price

Change the down payment, rate, term, property tax, and extra payment to see which assumption moves the total cost most.

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