Mortgage Calculator

Purchase Price
$
Down Payment
%

$100,000 (20%)

Interest Rate (Base)
%

Rate at 0 points

Loan Term
Points / Credits
Discount Points vs Lender Credits

Points (positive): Upfront cost to lower your rate. 1 point = 1% of loan amount, typically reduces rate by ~0.25%.

Credits (negative): Lender pays closing costs in exchange for higher rate. Enter as negative number.
points

$0 upfront

Effective Rate: 6.50%

PMI
Private Mortgage Insurance

Required for conventional loans when down payment is less than 20%. Protects lender if you default.

Drops off: Auto-removed at 22% equity, or request at 20%.
% / yr

Not required (≥20% down)

MIP
Mortgage Insurance Premium (FHA)

Required for FHA loans regardless of down payment. Includes upfront (1.75%) and annual premium.

Duration: Life of loan if <10% down; 11 years if ≥10% down.
% / yr

For FHA loans only

Property Tax (Annual)
$
HOA Fees
$

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Detailed Analysis

Payment Breakdown by Year

Amortization Schedule