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Tool

Mortgage Calculator with Amortization

Calculate PITI payments, amortization schedules, extra payments, and home affordability.

Finance / Percentage Calculators

What this tool does

Estimate monthly mortgage payments with a full PITI breakdown, generate an amortization schedule, model extra payments, or reverse-solve how much house you can afford.

How to use

  1. Choose Payment, Amortization, Extra payments, or Affordability mode.
  2. Enter home price, down payment, rate, and term.
  3. Add property tax, insurance, PMI, and HOA for total monthly cost.
  4. Download the amortization schedule as CSV when ready.

Formula

M = P × [r(1+r)^n] / [(1+r)^n − 1]; total monthly = P&I + tax + insurance + PMI + HOA

Examples

$450K home, 20% down, 30-year fixed

Input: home=450000, down=90000, rate=6.5%, tax=4200/yr

Output: P&I plus PITI total with amortization table

Standard owner-occupied purchase estimate.

Learn more

Why amortization schedules matter

Early payments are mostly interest; principal paydown accelerates over time. An amortization table shows how much equity you build each year.

Compare 15-year vs 30-year terms to see total interest paid—not just monthly payment differences.

Assumptions

  • Fixed-rate fully amortizing loan unless extra payment mode changes payoff.
  • Affordability mode uses target DTI minus existing debts and escrow.

Common use cases

  • Estimate monthly payment before making an offer
  • Compare extra payment scenarios
  • Find max affordable home price from income and DTI

FAQ

What is PITI?

Principal, interest, taxes, and insurance — your total housing payment.

How is PMI estimated?

If LTV exceeds 80%, a default ~0.5% annual PMI estimate applies unless you override it.

Can I export the schedule?

Yes. Download CSV from the Amortization or Extra payments tab.

Is this financial advice?

No. Rates and costs vary; use for planning estimates only.

Source notes

  • Standard US mortgage amortization formula.
  • Use the simple loan payment calculator for non-mortgage loans.

Explore related workflows

Last reviewed: 2026-05-23