Mortgage Payment Calculator

Estimate your monthly P&I, include escrow costs (taxes & insurance), and see how extra payments affect your payoff date.

Loan Details
Taxes, Insurance & Fees (Optional)
Advanced Settings (Currency & Frequency)
# Total Payment Interest Principal Extra Balance
Displaying first 360 rows. Download CSV for full data.

How to use

Enter the loan amount, interest rate, and term. Optionally add extra principal and escrow-related costs (taxes, insurance, PMI, HOA). Results update automatically and can be recalculated via the Calculate button.

Methodology

The calculator computes the periodic principal-and-interest payment using the fixed-rate amortization model. It then simulates the amortization schedule period-by-period, applying any extra principal payment each period, until the balance reaches zero.

  • “Monthly equivalent” is shown for easier comparison across payment frequencies.
  • Escrow costs are converted to monthly values and added to the monthly equivalent payment.
  • Payoff is shown as number of payments and an approximate time-to-payoff estimate.
Formulas

Fixed-Rate Amortization (principal & interest):

\[ M = P \cdot \frac{r(1+r)^{n}}{(1+r)^{n}-1} \]
  • $P$: Principal (loan amount)
  • $r$: Periodic interest rate (annual rate / payments per year)
  • $n$: Total number of payments (term in years × payments per year)
Citations

CFPB explainer (example): Mortgage payment calculation

Changelog
  • v1.0.0 — Initial release.
Verified by Ugo Candido
Last Updated: 2026-01-19
Version 1.0.0