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Mortgage Calculator Excel

Mortgage Calculator Excel spreadsheet is an advanced PITI mortgage calculator with PMI, taxes, and insurance, monthly and bi-weekly payments, and multiple extra payments options to calculate your mortgage payments. The mortgage calculator spreadsheet has a mortgage amortization schedule that is printable and exportable to excel and pdf.

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Home Value
$
Down Payment
Mortgage Amount
$
Loan Terms
Interest Rate
PMI (Yearly)
Property Tax (Yearly)
Home Insurance (Yearly)
HOA Fees (Monthly)
Payment Frequency
First Payment Date

Amortization Schedule
Extra Payments
One Time
$ On Date
Monthly or Biweekly
$ Starting Date
Quarterly
$ Starting Date
Yearly
$ Starting Date
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PITI Mortgage Calculator

Home Value: $300,000.00
Mortgage Amount: $255,000.00
Monthly Principal & Interest: $1,570.08
Monthly Extra Payment: $0.00
Monthly Property Tax: $250.00
Monthly Home Insurance: $125.00
Monthly PMI: (Until Aug, 2028) $106.25
Monthly HOA Fees: $0.00
Total Monthly Payment:
$2,051.33
Total # Of Payments: 360
Start Date: Mar, 2024
Payoff Date: Feb, 2054
Down Payment: $45,000.00
Principal: $255,000.00
Total Extra Payment: $0.00
Total Interest Paid: $310,228.39
Total Tax, Insurance, PMI and Fees: $140,737.50
Total of all Payments:
$750,965.89

Mortgage Amortization Schedule

Payment Date Payment # Interest Principal Tax, Insurance, PMI & Fees Total Payment Balance
Mar, 2024 1 $1,328.13 $241.95 $481.25 $2,051.33 $254,758.05
Apr, 2024 2 $1,326.86 $243.21 $481.25 $2,051.33 $254,514.83
May, 2024 3 $1,325.60 $244.48 $481.25 $2,051.33 $254,270.35
Jun, 2024 4 $1,324.32 $245.75 $481.25 $2,051.33 $254,024.60
Jul, 2024 5 $1,323.04 $247.03 $481.25 $2,051.33 $253,777.56
Aug, 2024 6 $1,321.76 $248.32 $481.25 $2,051.33 $253,529.24
Sep, 2024 7 $1,320.46 $249.61 $481.25 $2,051.33 $253,279.63
Oct, 2024 8 $1,319.16 $250.91 $481.25 $2,051.33 $253,028.71
Nov, 2024 9 $1,317.86 $252.22 $481.25 $2,051.33 $252,776.49
Dec, 2024 10 $1,316.54 $253.53 $481.25 $2,051.33 $252,522.96
Jan, 2025 11 $1,315.22 $254.86 $481.25 $2,051.33 $252,268.10
Feb, 2025 12 $1,313.90 $256.18 $481.25 $2,051.33 $252,011.92
Mar, 2025 13 $1,312.56 $257.52 $481.25 $2,051.33 $251,754.40
Apr, 2025 14 $1,311.22 $258.86 $481.25 $2,051.33 $251,495.55
May, 2025 15 $1,309.87 $260.21 $481.25 $2,051.33 $251,235.34
Jun, 2025 16 $1,308.52 $261.56 $481.25 $2,051.33 $250,973.78
Jul, 2025 17 $1,307.16 $262.92 $481.25 $2,051.33 $250,710.85
Aug, 2025 18 $1,305.79 $264.29 $481.25 $2,051.33 $250,446.56
Sep, 2025 19 $1,304.41 $265.67 $481.25 $2,051.33 $250,180.89
Oct, 2025 20 $1,303.03 $267.05 $481.25 $2,051.33 $249,913.84
Nov, 2025 21 $1,301.63 $268.44 $481.25 $2,051.33 $249,645.39
Dec, 2025 22 $1,300.24 $269.84 $481.25 $2,051.33 $249,375.55
Jan, 2026 23 $1,298.83 $271.25 $481.25 $2,051.33 $249,104.30
Feb, 2026 24 $1,297.42 $272.66 $481.25 $2,051.33 $248,831.64
Mar, 2026 25 $1,296.00 $274.08 $481.25 $2,051.33 $248,557.56
Apr, 2026 26 $1,294.57 $275.51 $481.25 $2,051.33 $248,282.05
May, 2026 27 $1,293.14 $276.94 $481.25 $2,051.33 $248,005.11
Jun, 2026 28 $1,291.69 $278.39 $481.25 $2,051.33 $247,726.73
Jul, 2026 29 $1,290.24 $279.84 $481.25 $2,051.33 $247,446.89
Aug, 2026 30 $1,288.79 $281.29 $481.25 $2,051.33 $247,165.60
Sep, 2026 31 $1,287.32 $282.76 $481.25 $2,051.33 $246,882.84
Oct, 2026 32 $1,285.85 $284.23 $481.25 $2,051.33 $246,598.61
Nov, 2026 33 $1,284.37 $285.71 $481.25 $2,051.33 $246,312.90
Dec, 2026 34 $1,282.88 $287.20 $481.25 $2,051.33 $246,025.70
Jan, 2027 35 $1,281.38 $288.70 $481.25 $2,051.33 $245,737.00
Feb, 2027 36 $1,279.88 $290.20 $481.25 $2,051.33 $245,446.80
Mar, 2027 37 $1,278.37 $291.71 $481.25 $2,051.33 $245,155.09
Apr, 2027 38 $1,276.85 $293.23 $481.25 $2,051.33 $244,861.86
May, 2027 39 $1,275.32 $294.76 $481.25 $2,051.33 $244,567.11
Jun, 2027 40 $1,273.79 $296.29 $481.25 $2,051.33 $244,270.82
Jul, 2027 41 $1,272.24 $297.84 $481.25 $2,051.33 $243,972.98
Aug, 2027 42 $1,270.69 $299.39 $481.25 $2,051.33 $243,673.60
Sep, 2027 43 $1,269.13 $300.95 $481.25 $2,051.33 $243,372.65
Oct, 2027 44 $1,267.57 $302.51 $481.25 $2,051.33 $243,070.14
Nov, 2027 45 $1,265.99 $304.09 $481.25 $2,051.33 $242,766.05
Dec, 2027 46 $1,264.41 $305.67 $481.25 $2,051.33 $242,460.38
Jan, 2028 47 $1,262.81 $307.26 $481.25 $2,051.33 $242,153.11
Feb, 2028 48 $1,261.21 $308.86 $481.25 $2,051.33 $241,844.25
Mar, 2028 49 $1,259.61 $310.47 $481.25 $2,051.33 $241,533.77
Apr, 2028 50 $1,257.99 $312.09 $481.25 $2,051.33 $241,221.68
May, 2028 51 $1,256.36 $313.72 $481.25 $2,051.33 $240,907.97
Jun, 2028 52 $1,254.73 $315.35 $481.25 $2,051.33 $240,592.62
Jul, 2028 53 $1,253.09 $316.99 $481.25 $2,051.33 $240,275.62
Aug, 2028 54 $1,251.44 $318.64 $481.25 $2,051.33 $239,956.98
Sep, 2028 55 $1,249.78 $320.30 $375.00 $1,945.08 $239,636.68
Oct, 2028 56 $1,248.11 $321.97 $375.00 $1,945.08 $239,314.71
Nov, 2028 57 $1,246.43 $323.65 $375.00 $1,945.08 $238,991.06
Dec, 2028 58 $1,244.75 $325.33 $375.00 $1,945.08 $238,665.73
Jan, 2029 59 $1,243.05 $327.03 $375.00 $1,945.08 $238,338.70
Feb, 2029 60 $1,241.35 $328.73 $375.00 $1,945.08 $238,009.97
Mar, 2029 61 $1,239.64 $330.44 $375.00 $1,945.08 $237,679.52
Apr, 2029 62 $1,237.91 $332.16 $375.00 $1,945.08 $237,347.36
May, 2029 63 $1,236.18 $333.89 $375.00 $1,945.08 $237,013.46
Jun, 2029 64 $1,234.45 $335.63 $375.00 $1,945.08 $236,677.83
Jul, 2029 65 $1,232.70 $337.38 $375.00 $1,945.08 $236,340.45
Aug, 2029 66 $1,230.94 $339.14 $375.00 $1,945.08 $236,001.31
Sep, 2029 67 $1,229.17 $340.91 $375.00 $1,945.08 $235,660.40
Oct, 2029 68 $1,227.40 $342.68 $375.00 $1,945.08 $235,317.72
Nov, 2029 69 $1,225.61 $344.47 $375.00 $1,945.08 $234,973.26
Dec, 2029 70 $1,223.82 $346.26 $375.00 $1,945.08 $234,627.00
Jan, 2030 71 $1,222.02 $348.06 $375.00 $1,945.08 $234,278.93
Feb, 2030 72 $1,220.20 $349.88 $375.00 $1,945.08 $233,929.06
Mar, 2030 73 $1,218.38 $351.70 $375.00 $1,945.08 $233,577.36
Apr, 2030 74 $1,216.55 $353.53 $375.00 $1,945.08 $233,223.83
May, 2030 75 $1,214.71 $355.37 $375.00 $1,945.08 $232,868.46
Jun, 2030 76 $1,212.86 $357.22 $375.00 $1,945.08 $232,511.23
Jul, 2030 77 $1,211.00 $359.08 $375.00 $1,945.08 $232,152.15
Aug, 2030 78 $1,209.13 $360.95 $375.00 $1,945.08 $231,791.20
Sep, 2030 79 $1,207.25 $362.83 $375.00 $1,945.08 $231,428.37
Oct, 2030 80 $1,205.36 $364.72 $375.00 $1,945.08 $231,063.64
Nov, 2030 81 $1,203.46 $366.62 $375.00 $1,945.08 $230,697.02
Dec, 2030 82 $1,201.55 $368.53 $375.00 $1,945.08 $230,328.49
Jan, 2031 83 $1,199.63 $370.45 $375.00 $1,945.08 $229,958.04
Feb, 2031 84 $1,197.70 $372.38 $375.00 $1,945.08 $229,585.66
Mar, 2031 85 $1,195.76 $374.32 $375.00 $1,945.08 $229,211.34
Apr, 2031 86 $1,193.81 $376.27 $375.00 $1,945.08 $228,835.07
May, 2031 87 $1,191.85 $378.23 $375.00 $1,945.08 $228,456.84
Jun, 2031 88 $1,189.88 $380.20 $375.00 $1,945.08 $228,076.64
Jul, 2031 89 $1,187.90 $382.18 $375.00 $1,945.08 $227,694.46
Aug, 2031 90 $1,185.91 $384.17 $375.00 $1,945.08 $227,310.29
Sep, 2031 91 $1,183.91 $386.17 $375.00 $1,945.08 $226,924.12
Oct, 2031 92 $1,181.90 $388.18 $375.00 $1,945.08 $226,535.93
Nov, 2031 93 $1,179.87 $390.20 $375.00 $1,945.08 $226,145.73
Dec, 2031 94 $1,177.84 $392.24 $375.00 $1,945.08 $225,753.49
Jan, 2032 95 $1,175.80 $394.28 $375.00 $1,945.08 $225,359.21
Feb, 2032 96 $1,173.75 $396.33 $375.00 $1,945.08 $224,962.88
Mar, 2032 97 $1,171.68 $398.40 $375.00 $1,945.08 $224,564.48
Apr, 2032 98 $1,169.61 $400.47 $375.00 $1,945.08 $224,164.01
May, 2032 99 $1,167.52 $402.56 $375.00 $1,945.08 $223,761.45
Jun, 2032 100 $1,165.42 $404.65 $375.00 $1,945.08 $223,356.80
Jul, 2032 101 $1,163.32 $406.76 $375.00 $1,945.08 $222,950.04
Aug, 2032 102 $1,161.20 $408.88 $375.00 $1,945.08 $222,541.16
Sep, 2032 103 $1,159.07 $411.01 $375.00 $1,945.08 $222,130.15
Oct, 2032 104 $1,156.93 $413.15 $375.00 $1,945.08 $221,716.99
Nov, 2032 105 $1,154.78 $415.30 $375.00 $1,945.08 $221,301.69
Dec, 2032 106 $1,152.61 $417.47 $375.00 $1,945.08 $220,884.23
Jan, 2033 107 $1,150.44 $419.64 $375.00 $1,945.08 $220,464.59
Feb, 2033 108 $1,148.25 $421.83 $375.00 $1,945.08 $220,042.76
Mar, 2033 109 $1,146.06 $424.02 $375.00 $1,945.08 $219,618.74
Apr, 2033 110 $1,143.85 $426.23 $375.00 $1,945.08 $219,192.51
May, 2033 111 $1,141.63 $428.45 $375.00 $1,945.08 $218,764.05
Jun, 2033 112 $1,139.40 $430.68 $375.00 $1,945.08 $218,333.37
Jul, 2033 113 $1,137.15 $432.93 $375.00 $1,945.08 $217,900.45
Aug, 2033 114 $1,134.90 $435.18 $375.00 $1,945.08 $217,465.27
Sep, 2033 115 $1,132.63 $437.45 $375.00 $1,945.08 $217,027.82
Oct, 2033 116 $1,130.35 $439.73 $375.00 $1,945.08 $216,588.09
Nov, 2033 117 $1,128.06 $442.02 $375.00 $1,945.08 $216,146.08
Dec, 2033 118 $1,125.76 $444.32 $375.00 $1,945.08 $215,701.76
Jan, 2034 119 $1,123.45 $446.63 $375.00 $1,945.08 $215,255.13
Feb, 2034 120 $1,121.12 $448.96 $375.00 $1,945.08 $214,806.17
Mar, 2034 121 $1,118.78 $451.30 $375.00 $1,945.08 $214,354.87
Apr, 2034 122 $1,116.43 $453.65 $375.00 $1,945.08 $213,901.22
May, 2034 123 $1,114.07 $456.01 $375.00 $1,945.08 $213,445.21
Jun, 2034 124 $1,111.69 $458.39 $375.00 $1,945.08 $212,986.83
Jul, 2034 125 $1,109.31 $460.77 $375.00 $1,945.08 $212,526.06
Aug, 2034 126 $1,106.91 $463.17 $375.00 $1,945.08 $212,062.88
Sep, 2034 127 $1,104.49 $465.58 $375.00 $1,945.08 $211,597.30
Oct, 2034 128 $1,102.07 $468.01 $375.00 $1,945.08 $211,129.29
Nov, 2034 129 $1,099.63 $470.45 $375.00 $1,945.08 $210,658.84
Dec, 2034 130 $1,097.18 $472.90 $375.00 $1,945.08 $210,185.95
Jan, 2035 131 $1,094.72 $475.36 $375.00 $1,945.08 $209,710.58
Feb, 2035 132 $1,092.24 $477.84 $375.00 $1,945.08 $209,232.75
Mar, 2035 133 $1,089.75 $480.32 $375.00 $1,945.08 $208,752.42
Apr, 2035 134 $1,087.25 $482.83 $375.00 $1,945.08 $208,269.60
May, 2035 135 $1,084.74 $485.34 $375.00 $1,945.08 $207,784.26
Jun, 2035 136 $1,082.21 $487.87 $375.00 $1,945.08 $207,296.39
Jul, 2035 137 $1,079.67 $490.41 $375.00 $1,945.08 $206,805.98
Aug, 2035 138 $1,077.11 $492.96 $375.00 $1,945.08 $206,313.01
Sep, 2035 139 $1,074.55 $495.53 $375.00 $1,945.08 $205,817.48
Oct, 2035 140 $1,071.97 $498.11 $375.00 $1,945.08 $205,319.37
Nov, 2035 141 $1,069.37 $500.71 $375.00 $1,945.08 $204,818.66
Dec, 2035 142 $1,066.76 $503.32 $375.00 $1,945.08 $204,315.34
Jan, 2036 143 $1,064.14 $505.94 $375.00 $1,945.08 $203,809.41
Feb, 2036 144 $1,061.51 $508.57 $375.00 $1,945.08 $203,300.84
Mar, 2036 145 $1,058.86 $511.22 $375.00 $1,945.08 $202,789.62
Apr, 2036 146 $1,056.20 $513.88 $375.00 $1,945.08 $202,275.73
May, 2036 147 $1,053.52 $516.56 $375.00 $1,945.08 $201,759.17
Jun, 2036 148 $1,050.83 $519.25 $375.00 $1,945.08 $201,239.92
Jul, 2036 149 $1,048.12 $521.95 $375.00 $1,945.08 $200,717.97
Aug, 2036 150 $1,045.41 $524.67 $375.00 $1,945.08 $200,193.30
Sep, 2036 151 $1,042.67 $527.41 $375.00 $1,945.08 $199,665.89
Oct, 2036 152 $1,039.93 $530.15 $375.00 $1,945.08 $199,135.74
Nov, 2036 153 $1,037.17 $532.91 $375.00 $1,945.08 $198,602.83
Dec, 2036 154 $1,034.39 $535.69 $375.00 $1,945.08 $198,067.14
Jan, 2037 155 $1,031.60 $538.48 $375.00 $1,945.08 $197,528.66
Feb, 2037 156 $1,028.80 $541.28 $375.00 $1,945.08 $196,987.37
Mar, 2037 157 $1,025.98 $544.10 $375.00 $1,945.08 $196,443.27
Apr, 2037 158 $1,023.14 $546.94 $375.00 $1,945.08 $195,896.33
May, 2037 159 $1,020.29 $549.79 $375.00 $1,945.08 $195,346.55
Jun, 2037 160 $1,017.43 $552.65 $375.00 $1,945.08 $194,793.90
Jul, 2037 161 $1,014.55 $555.53 $375.00 $1,945.08 $194,238.37
Aug, 2037 162 $1,011.66 $558.42 $375.00 $1,945.08 $193,679.95
Sep, 2037 163 $1,008.75 $561.33 $375.00 $1,945.08 $193,118.62
Oct, 2037 164 $1,005.83 $564.25 $375.00 $1,945.08 $192,554.37
Nov, 2037 165 $1,002.89 $567.19 $375.00 $1,945.08 $191,987.18
Dec, 2037 166 $999.93 $570.15 $375.00 $1,945.08 $191,417.03
Jan, 2038 167 $996.96 $573.12 $375.00 $1,945.08 $190,843.92
Feb, 2038 168 $993.98 $576.10 $375.00 $1,945.08 $190,267.82
Mar, 2038 169 $990.98 $579.10 $375.00 $1,945.08 $189,688.72
Apr, 2038 170 $987.96 $582.12 $375.00 $1,945.08 $189,106.60
May, 2038 171 $984.93 $585.15 $375.00 $1,945.08 $188,521.45
Jun, 2038 172 $981.88 $588.20 $375.00 $1,945.08 $187,933.26
Jul, 2038 173 $978.82 $591.26 $375.00 $1,945.08 $187,342.00
Aug, 2038 174 $975.74 $594.34 $375.00 $1,945.08 $186,747.66
Sep, 2038 175 $972.64 $597.43 $375.00 $1,945.08 $186,150.22
Oct, 2038 176 $969.53 $600.55 $375.00 $1,945.08 $185,549.67
Nov, 2038 177 $966.40 $603.67 $375.00 $1,945.08 $184,946.00
Dec, 2038 178 $963.26 $606.82 $375.00 $1,945.08 $184,339.18
Jan, 2039 179 $960.10 $609.98 $375.00 $1,945.08 $183,729.20
Feb, 2039 180 $956.92 $613.16 $375.00 $1,945.08 $183,116.05
Mar, 2039 181 $953.73 $616.35 $375.00 $1,945.08 $182,499.70
Apr, 2039 182 $950.52 $619.56 $375.00 $1,945.08 $181,880.14
May, 2039 183 $947.29 $622.79 $375.00 $1,945.08 $181,257.35
Jun, 2039 184 $944.05 $626.03 $375.00 $1,945.08 $180,631.32
Jul, 2039 185 $940.79 $629.29 $375.00 $1,945.08 $180,002.03
Aug, 2039 186 $937.51 $632.57 $375.00 $1,945.08 $179,369.46
Sep, 2039 187 $934.22 $635.86 $375.00 $1,945.08 $178,733.60
Oct, 2039 188 $930.90 $639.17 $375.00 $1,945.08 $178,094.42
Nov, 2039 189 $927.58 $642.50 $375.00 $1,945.08 $177,451.92
Dec, 2039 190 $924.23 $645.85 $375.00 $1,945.08 $176,806.07
Jan, 2040 191 $920.86 $649.21 $375.00 $1,945.08 $176,156.86
Feb, 2040 192 $917.48 $652.60 $375.00 $1,945.08 $175,504.26
Mar, 2040 193 $914.08 $655.99 $375.00 $1,945.08 $174,848.27
Apr, 2040 194 $910.67 $659.41 $375.00 $1,945.08 $174,188.86
May, 2040 195 $907.23 $662.85 $375.00 $1,945.08 $173,526.01
Jun, 2040 196 $903.78 $666.30 $375.00 $1,945.08 $172,859.71
Jul, 2040 197 $900.31 $669.77 $375.00 $1,945.08 $172,189.95
Aug, 2040 198 $896.82 $673.26 $375.00 $1,945.08 $171,516.69
Sep, 2040 199 $893.32 $676.76 $375.00 $1,945.08 $170,839.93
Oct, 2040 200 $889.79 $680.29 $375.00 $1,945.08 $170,159.64
Nov, 2040 201 $886.25 $683.83 $375.00 $1,945.08 $169,475.81
Dec, 2040 202 $882.69 $687.39 $375.00 $1,945.08 $168,788.42
Jan, 2041 203 $879.11 $690.97 $375.00 $1,945.08 $168,097.44
Feb, 2041 204 $875.51 $694.57 $375.00 $1,945.08 $167,402.87
Mar, 2041 205 $871.89 $698.19 $375.00 $1,945.08 $166,704.68
Apr, 2041 206 $868.25 $701.83 $375.00 $1,945.08 $166,002.86
May, 2041 207 $864.60 $705.48 $375.00 $1,945.08 $165,297.38
Jun, 2041 208 $860.92 $709.16 $375.00 $1,945.08 $164,588.22
Jul, 2041 209 $857.23 $712.85 $375.00 $1,945.08 $163,875.37
Aug, 2041 210 $853.52 $716.56 $375.00 $1,945.08 $163,158.81
Sep, 2041 211 $849.79 $720.29 $375.00 $1,945.08 $162,438.52
Oct, 2041 212 $846.03 $724.04 $375.00 $1,945.08 $161,714.47
Nov, 2041 213 $842.26 $727.82 $375.00 $1,945.08 $160,986.66
Dec, 2041 214 $838.47 $731.61 $375.00 $1,945.08 $160,255.05
Jan, 2042 215 $834.66 $735.42 $375.00 $1,945.08 $159,519.64
Feb, 2042 216 $830.83 $739.25 $375.00 $1,945.08 $158,780.39
Mar, 2042 217 $826.98 $743.10 $375.00 $1,945.08 $158,037.29
Apr, 2042 218 $823.11 $746.97 $375.00 $1,945.08 $157,290.32
May, 2042 219 $819.22 $750.86 $375.00 $1,945.08 $156,539.46
Jun, 2042 220 $815.31 $754.77 $375.00 $1,945.08 $155,784.69
Jul, 2042 221 $811.38 $758.70 $375.00 $1,945.08 $155,025.99
Aug, 2042 222 $807.43 $762.65 $375.00 $1,945.08 $154,263.34
Sep, 2042 223 $803.45 $766.62 $375.00 $1,945.08 $153,496.72
Oct, 2042 224 $799.46 $770.62 $375.00 $1,945.08 $152,726.10
Nov, 2042 225 $795.45 $774.63 $375.00 $1,945.08 $151,951.47
Dec, 2042 226 $791.41 $778.66 $375.00 $1,945.08 $151,172.81
Jan, 2043 227 $787.36 $782.72 $375.00 $1,945.08 $150,390.09
Feb, 2043 228 $783.28 $786.80 $375.00 $1,945.08 $149,603.29
Mar, 2043 229 $779.18 $790.90 $375.00 $1,945.08 $148,812.39
Apr, 2043 230 $775.06 $795.01 $375.00 $1,945.08 $148,017.38
May, 2043 231 $770.92 $799.16 $375.00 $1,945.08 $147,218.22
Jun, 2043 232 $766.76 $803.32 $375.00 $1,945.08 $146,414.91
Jul, 2043 233 $762.58 $807.50 $375.00 $1,945.08 $145,607.41
Aug, 2043 234 $758.37 $811.71 $375.00 $1,945.08 $144,795.70
Sep, 2043 235 $754.14 $815.93 $375.00 $1,945.08 $143,979.76
Oct, 2043 236 $749.89 $820.18 $375.00 $1,945.08 $143,159.58
Nov, 2043 237 $745.62 $824.46 $375.00 $1,945.08 $142,335.12
Dec, 2043 238 $741.33 $828.75 $375.00 $1,945.08 $141,506.37
Jan, 2044 239 $737.01 $833.07 $375.00 $1,945.08 $140,673.31
Feb, 2044 240 $732.67 $837.41 $375.00 $1,945.08 $139,835.90
Mar, 2044 241 $728.31 $841.77 $375.00 $1,945.08 $138,994.14
Apr, 2044 242 $723.93 $846.15 $375.00 $1,945.08 $138,147.98
May, 2044 243 $719.52 $850.56 $375.00 $1,945.08 $137,297.43
Jun, 2044 244 $715.09 $854.99 $375.00 $1,945.08 $136,442.44
Jul, 2044 245 $710.64 $859.44 $375.00 $1,945.08 $135,583.00
Aug, 2044 246 $706.16 $863.92 $375.00 $1,945.08 $134,719.08
Sep, 2044 247 $701.66 $868.42 $375.00 $1,945.08 $133,850.66
Oct, 2044 248 $697.14 $872.94 $375.00 $1,945.08 $132,977.72
Nov, 2044 249 $692.59 $877.49 $375.00 $1,945.08 $132,100.24
Dec, 2044 250 $688.02 $882.06 $375.00 $1,945.08 $131,218.18
Jan, 2045 251 $683.43 $886.65 $375.00 $1,945.08 $130,331.53
Feb, 2045 252 $678.81 $891.27 $375.00 $1,945.08 $129,440.26
Mar, 2045 253 $674.17 $895.91 $375.00 $1,945.08 $128,544.35
Apr, 2045 254 $669.50 $900.58 $375.00 $1,945.08 $127,643.77
May, 2045 255 $664.81 $905.27 $375.00 $1,945.08 $126,738.50
Jun, 2045 256 $660.10 $909.98 $375.00 $1,945.08 $125,828.52
Jul, 2045 257 $655.36 $914.72 $375.00 $1,945.08 $124,913.80
Aug, 2045 258 $650.59 $919.49 $375.00 $1,945.08 $123,994.31
Sep, 2045 259 $645.80 $924.28 $375.00 $1,945.08 $123,070.04
Oct, 2045 260 $640.99 $929.09 $375.00 $1,945.08 $122,140.95
Nov, 2045 261 $636.15 $933.93 $375.00 $1,945.08 $121,207.02
Dec, 2045 262 $631.29 $938.79 $375.00 $1,945.08 $120,268.23
Jan, 2046 263 $626.40 $943.68 $375.00 $1,945.08 $119,324.55
Feb, 2046 264 $621.48 $948.60 $375.00 $1,945.08 $118,375.95
Mar, 2046 265 $616.54 $953.54 $375.00 $1,945.08 $117,422.41
Apr, 2046 266 $611.58 $958.50 $375.00 $1,945.08 $116,463.91
May, 2046 267 $606.58 $963.50 $375.00 $1,945.08 $115,500.41
Jun, 2046 268 $601.56 $968.51 $375.00 $1,945.08 $114,531.90
Jul, 2046 269 $596.52 $973.56 $375.00 $1,945.08 $113,558.34
Aug, 2046 270 $591.45 $978.63 $375.00 $1,945.08 $112,579.71
Sep, 2046 271 $586.35 $983.73 $375.00 $1,945.08 $111,595.98
Oct, 2046 272 $581.23 $988.85 $375.00 $1,945.08 $110,607.13
Nov, 2046 273 $576.08 $994.00 $375.00 $1,945.08 $109,613.13
Dec, 2046 274 $570.90 $999.18 $375.00 $1,945.08 $108,613.96
Jan, 2047 275 $565.70 $1,004.38 $375.00 $1,945.08 $107,609.58
Feb, 2047 276 $560.47 $1,009.61 $375.00 $1,945.08 $106,599.96
Mar, 2047 277 $555.21 $1,014.87 $375.00 $1,945.08 $105,585.09
Apr, 2047 278 $549.92 $1,020.16 $375.00 $1,945.08 $104,564.94
May, 2047 279 $544.61 $1,025.47 $375.00 $1,945.08 $103,539.47
Jun, 2047 280 $539.27 $1,030.81 $375.00 $1,945.08 $102,508.66
Jul, 2047 281 $533.90 $1,036.18 $375.00 $1,945.08 $101,472.48
Aug, 2047 282 $528.50 $1,041.58 $375.00 $1,945.08 $100,430.90
Sep, 2047 283 $523.08 $1,047.00 $375.00 $1,945.08 $99,383.90
Oct, 2047 284 $517.62 $1,052.45 $375.00 $1,945.08 $98,331.44
Nov, 2047 285 $512.14 $1,057.94 $375.00 $1,945.08 $97,273.51
Dec, 2047 286 $506.63 $1,063.45 $375.00 $1,945.08 $96,210.06
Jan, 2048 287 $501.09 $1,068.98 $375.00 $1,945.08 $95,141.08
Feb, 2048 288 $495.53 $1,074.55 $375.00 $1,945.08 $94,066.53
Mar, 2048 289 $489.93 $1,080.15 $375.00 $1,945.08 $92,986.38
Apr, 2048 290 $484.30 $1,085.77 $375.00 $1,945.08 $91,900.60
May, 2048 291 $478.65 $1,091.43 $375.00 $1,945.08 $90,809.17
Jun, 2048 292 $472.96 $1,097.11 $375.00 $1,945.08 $89,712.06
Jul, 2048 293 $467.25 $1,102.83 $375.00 $1,945.08 $88,609.23
Aug, 2048 294 $461.51 $1,108.57 $375.00 $1,945.08 $87,500.66
Sep, 2048 295 $455.73 $1,114.35 $375.00 $1,945.08 $86,386.31
Oct, 2048 296 $449.93 $1,120.15 $375.00 $1,945.08 $85,266.16
Nov, 2048 297 $444.09 $1,125.98 $375.00 $1,945.08 $84,140.18
Dec, 2048 298 $438.23 $1,131.85 $375.00 $1,945.08 $83,008.33
Jan, 2049 299 $432.34 $1,137.74 $375.00 $1,945.08 $81,870.58
Feb, 2049 300 $426.41 $1,143.67 $375.00 $1,945.08 $80,726.91
Mar, 2049 301 $420.45 $1,149.63 $375.00 $1,945.08 $79,577.29
Apr, 2049 302 $414.47 $1,155.61 $375.00 $1,945.08 $78,421.67
May, 2049 303 $408.45 $1,161.63 $375.00 $1,945.08 $77,260.04
Jun, 2049 304 $402.40 $1,167.68 $375.00 $1,945.08 $76,092.36
Jul, 2049 305 $396.31 $1,173.76 $375.00 $1,945.08 $74,918.59
Aug, 2049 306 $390.20 $1,179.88 $375.00 $1,945.08 $73,738.72
Sep, 2049 307 $384.06 $1,186.02 $375.00 $1,945.08 $72,552.69
Oct, 2049 308 $377.88 $1,192.20 $375.00 $1,945.08 $71,360.49
Nov, 2049 309 $371.67 $1,198.41 $375.00 $1,945.08 $70,162.08
Dec, 2049 310 $365.43 $1,204.65 $375.00 $1,945.08 $68,957.43
Jan, 2050 311 $359.15 $1,210.93 $375.00 $1,945.08 $67,746.51
Feb, 2050 312 $352.85 $1,217.23 $375.00 $1,945.08 $66,529.27
Mar, 2050 313 $346.51 $1,223.57 $375.00 $1,945.08 $65,305.70
Apr, 2050 314 $340.13 $1,229.95 $375.00 $1,945.08 $64,075.76
May, 2050 315 $333.73 $1,236.35 $375.00 $1,945.08 $62,839.40
Jun, 2050 316 $327.29 $1,242.79 $375.00 $1,945.08 $61,596.61
Jul, 2050 317 $320.82 $1,249.26 $375.00 $1,945.08 $60,347.35
Aug, 2050 318 $314.31 $1,255.77 $375.00 $1,945.08 $59,091.58
Sep, 2050 319 $307.77 $1,262.31 $375.00 $1,945.08 $57,829.27
Oct, 2050 320 $301.19 $1,268.88 $375.00 $1,945.08 $56,560.39
Nov, 2050 321 $294.59 $1,275.49 $375.00 $1,945.08 $55,284.89
Dec, 2050 322 $287.94 $1,282.14 $375.00 $1,945.08 $54,002.76
Jan, 2051 323 $281.26 $1,288.81 $375.00 $1,945.08 $52,713.94
Feb, 2051 324 $274.55 $1,295.53 $375.00 $1,945.08 $51,418.41
Mar, 2051 325 $267.80 $1,302.27 $375.00 $1,945.08 $50,116.14
Apr, 2051 326 $261.02 $1,309.06 $375.00 $1,945.08 $48,807.08
May, 2051 327 $254.20 $1,315.88 $375.00 $1,945.08 $47,491.21
Jun, 2051 328 $247.35 $1,322.73 $375.00 $1,945.08 $46,168.48
Jul, 2051 329 $240.46 $1,329.62 $375.00 $1,945.08 $44,838.86
Aug, 2051 330 $233.54 $1,336.54 $375.00 $1,945.08 $43,502.32
Sep, 2051 331 $226.57 $1,343.50 $375.00 $1,945.08 $42,158.81
Oct, 2051 332 $219.58 $1,350.50 $375.00 $1,945.08 $40,808.31
Nov, 2051 333 $212.54 $1,357.54 $375.00 $1,945.08 $39,450.78
Dec, 2051 334 $205.47 $1,364.61 $375.00 $1,945.08 $38,086.17
Jan, 2052 335 $198.37 $1,371.71 $375.00 $1,945.08 $36,714.46
Feb, 2052 336 $191.22 $1,378.86 $375.00 $1,945.08 $35,335.60
Mar, 2052 337 $184.04 $1,386.04 $375.00 $1,945.08 $33,949.56
Apr, 2052 338 $176.82 $1,393.26 $375.00 $1,945.08 $32,556.30
May, 2052 339 $169.56 $1,400.51 $375.00 $1,945.08 $31,155.79
Jun, 2052 340 $162.27 $1,407.81 $375.00 $1,945.08 $29,747.98
Jul, 2052 341 $154.94 $1,415.14 $375.00 $1,945.08 $28,332.84
Aug, 2052 342 $147.57 $1,422.51 $375.00 $1,945.08 $26,910.32
Sep, 2052 343 $140.16 $1,429.92 $375.00 $1,945.08 $25,480.40
Oct, 2052 344 $132.71 $1,437.37 $375.00 $1,945.08 $24,043.03
Nov, 2052 345 $125.22 $1,444.85 $375.00 $1,945.08 $22,598.18
Dec, 2052 346 $117.70 $1,452.38 $375.00 $1,945.08 $21,145.80
Jan, 2053 347 $110.13 $1,459.94 $375.00 $1,945.08 $19,685.86
Feb, 2053 348 $102.53 $1,467.55 $375.00 $1,945.08 $18,218.31
Mar, 2053 349 $94.89 $1,475.19 $375.00 $1,945.08 $16,743.12
Apr, 2053 350 $87.20 $1,482.88 $375.00 $1,945.08 $15,260.24
May, 2053 351 $79.48 $1,490.60 $375.00 $1,945.08 $13,769.64
Jun, 2053 352 $71.72 $1,498.36 $375.00 $1,945.08 $12,271.28
Jul, 2053 353 $63.91 $1,506.17 $375.00 $1,945.08 $10,765.11
Aug, 2053 354 $56.07 $1,514.01 $375.00 $1,945.08 $9,251.10
Sep, 2053 355 $48.18 $1,521.90 $375.00 $1,945.08 $7,729.21
Oct, 2053 356 $40.26 $1,529.82 $375.00 $1,945.08 $6,199.38
Nov, 2053 357 $32.29 $1,537.79 $375.00 $1,945.08 $4,661.59
Dec, 2053 358 $24.28 $1,545.80 $375.00 $1,945.08 $3,115.79
Jan, 2054 359 $16.23 $1,553.85 $375.00 $1,945.08 $1,561.94
Feb, 2054 360 $8.14 $1,561.94 $375.00 $1,945.08 $0.00

Compare Monthly vs. Bi-weekly

Payment Frequency Monthly Bi-weekly
Payments / Year 12 26
Each Payment $2,051.33 $1,007.15
Total Extra Payments $0.00 $0.00
Total Interest $310,228.39 $241,305.54
Total Tax, Insurance, PMI & Fees $140,737.50 $113,134.62
Total Payment $750,965.89 $654,440.16
Total Savings $0 $96,525.73
Payoff Date Feb, 2054 May, 2048



How Does a Mortgage Work?

A mortgage is a loan between a lender and borrower to help the borrower finance the purchase of a house. In return, the borrower agrees to pay back the loan plus interest over the course of 15 or 30 years. The main parts of a mortgage are made up by

  • Loan Amount - this is the amount of money that the borrower asks for
  • Interest Rate - the borrower must pay back the loan with interest, and the interest rate determines how much the borrower should pay in interest payment.
  • Loan Terms - the borrower is given a certain amount of years to pay off the mortgage. 15 and 30-year terms are the most common types of mortgages.

On a 30-year fixed-rate mortgage, the payment is divided up by monthly payments where a borrower will pay the same amount each month for 30 years. In the beginning, most of your monthly payment goes towards paying interest instead of the principal. As time passes, the ratio between interest and principal payment will reverse. With our amortization schedule, you can easily view each payment to learn exactly how much of your monthly payment is for interest.


How to Calculate Monthly Mortgage Payments?

The monthly payment formula on how to calculate mortgage payments is given below. A = (P x i/100/12) / (1 - 1 / (1 + i/100/12)^ n)), where A = monthly payment P = principal amount i = interest rate n = the loan term in months


Monthly Mortgage Payment Example

Let's calculate the monthly payment on a $500,000 30-year fixed mortgage with a 5% interest rate. A = (P *i/100/12) / (1 - 1 / (1 + i/100/12)^ n)) A = 500,000 *5/100/12) / (1 - 1 / (1 + 5/100/12)^ 360)) A = 500,000 x 0.004167/(1 - 1/(1 + 0.004167) ^ 360) A = 2,083.5/(1 - 1/1.004167^360) A = 2,083.5/(1- 1/4.46828) A = 2,083.5/(1 - 0.2238) A = 2,083.5/(0.7762) A = 2,684.11 Therefore, the monthly mortgage payment for a 30-year $500,000 mortgage with a 5% interest rate is $2,684.11. There are other costs of owning a house other than the monthly mortgage, such as the tax and insurance, and possibly private mortgage insurance if the down payment is less than 20%. We will go over each of the items below.



Typical Costs of a Mortgage Payment

A mortgage payment can get complicated when you factor in other costs, such as PMI, taxes and insurance. Taxes and insurance are the two other parts in addition to principal and interest that made up your monthly mortgage payment. Principal, interest, taxes and insurance, or PITI are the core components of a mortgage payment since no matter where you live, you have to pay taxes and insurance on your house. Taxes and insurance vary state by state, and city by city. With the comprehensive mortgage calculator PITI, you can quickly calculate these costs and see how much you need to pay each month. Principal - The amount you borrow. Each payment reduces your principal. Interest - The interest that you pay to the bank for lending you money. Property Tax - A tax that you need to pay the government for your house and land. Insurance - Homeowners are required to buy home insurance to cover their losses in the case of fire, storms, flood, and other damages. PMI - private mortgage insurance is mortgage insurance that homeowners have to pay if their down payment is less than 20%. They have to pay the PMI until their equity in the house is over 20%. Our PITI mortgage calculator has a built-in function to include taxes and insurance, so you can quickly include them in your calculation.


What is Private Mortgage Insurance?

Private mortgage insurance or PMI is insurance that a borrower needs to pay if his down payment on the house is less than 20%. The PMI is a protection for the banks and lenders to protect themselves in case the borrower defaults or stops making payments. The banks want the borrower to have more equity in the house to reduce their risks of making a loan. The more down payment a borrower puts down on a house, the less likely that he is to walk away from his mortgage payments. For borrowers who put down less than 20%, PMI is an extra cost for the mortgage. Once the borrower's equity on the house is over 20%, then he can contact the lenders and remove the PMI charges. Our mortgage calculator with PMI has a field called "PMI Yearly" that allows you to enter a PMI by percentage or dollar money.


How to Pay Off Mortgage Earlier?

There are a few ways a borrower can pay off his mortgage earlier and faster, biweekly and extra payments.


What Are Bi-Weekly Payments?

By default, most mortgage payments are paid on a monthly basis. However, some people may want to choose bi-weekly payment. A bi-weekly payment is not the same as paying twice a month. When making monthly payments, a borrower pays 12 times a year. There are 52 weeks in a year, making bi-weekly payments means a borrower makes 26 payments a year. Since the bi-weekly payment is half of the monthly payment amount (not including tax & insurance & other fees), a borrower who chooses a bi-weekly payment is essentially making 13 payments a year compared to the regular monthly payments. The main reason why anyone would want to make bi-weekly payments is that it allows a borrower to save a lot of money on interest, and pay off the mortgage many years earlier than the monthly payment. One extra payment a year may not seem like a lot. However, each extra payment towards principal reduces both your mortgage and the interest you are paying. For example, a borrower pays about $373,023.14 in interest payments on a mortgage of $400,000 with a 30-year term and a fixed interest rate of 5%. The amount of interest that a borrower pays at the end of the term is almost the size of the mortgage amount. However, if the borrower chooses to make a bi-weekly payment, he or she will pay about $304,367.27 in interest payment, which is a saving of $68,655.87. On top of that, the borrower is able to pay off his mortgage 5 years earlier. If we include other costs such as PMI, the savings may be even bigger with the biweekly mortgage payments. Our mortgage calculator allows you to choose payment frequency (monthly & bi-weekly) and get an amortization schedule with a breakdown of each payment in detail. You will also get a comparison table that shows you exactly how much you will save in interest payments, and how many years earlier you will pay off your mortgage.



What Are Extra Payments?

There are other ways that a borrower chooses to pay off his or her mortgage earlier and save money on interest payments. One such option is to make extra payments toward the principal. A borrower can make a one-time lump sum payment or increase his monthly payment. By increasing the monthly payment, you pay off your mortgage faster and cut down on interest payments.


Is Bi-weekly Payment or Extra Payment Right For You?

There are situations where a borrower does not want to make bi-weekly payments or extra payments.

  • Are you planning to move out of the house after a couple of years? If you are, making an extra payment or bi-weekly payment may not be worth the effort. Most of the savings on interest payments are saved after you live in the house for a decade or more.

  • Can you use the extra money for other better investments? If you have better use for your money such as stocks, bonds, real estate, business, or other opportunities.

  • Can you afford it? If your salary doesn't increase and you are not able to cut your spending, then you may not afford to make extra payments.

PITI Mortgage Calculator

Our advanced mortgage payment calculator with PMI, multiple extra payments, tax, and insurance, has all the variables built in so that you can estimate exactly how much you will be paying each month. Mortgage Calculator With PMI is a mortgage amortization calculator that has an option to include Private Mortgage Insurance or PMI. The PMI is calculated only if the down payment is less than 20% of the property value, and the borrower will have to pay for the mortgage insurance until the balance is less than or equal to 80% of the home value. One can enter the PMI as a dollar amount or as a percentage of the home value. The mortgage calculator with taxes and insurance allows a borrower to include property taxes and homeowner's insurance so that one can get a complete breakdown of the amortization schedule and see how much one has to pay monthly or biweekly. Every little thing adds up such as taxes and fees, a borrower should make sure he or she is able to pay the monthly payments before making the down payments for a house. The mortgage affordability calculator will help you estimate how much house can I afford using your annual income and monthly debt. The mortgage calculator with extra payments gives borrowers four ways to include extra payments for their payments in case they want to pay off their mortgage earlier. The extra payment options are a one-time extra payment, recurring biweekly, monthly, quarterly, and yearly plan. All you have to do is to toggle the yes button next to the extra payment option and enter the amount, and a starting date accordingly.


PITI Mortgage Calculator Terms

Following are the terms for the PITI mortgage calculator with multiple extra payments. Home Value - the estimated value of your home or property Down Payment - how much are you putting down on the property? You can enter a percentage or a dollar amount. Mortgage Amount - how much do you need to get a mortgage to finance the purchase of your dream home? This field is automatically calculated based on your home value and down payment. Loan Terms - how long will the loan last. The most common terms are 15-year and 30-year term mortgages. You have the option to enter the loan terms in years or months. Interest Rate - how much interest are you going to pay each month? The interest rate determines your interest payment and is agreed upon upfront between the lender and the borrower. PMI (Yearly) - if your down payment is less than 20% of the property, you may be required to pay for private mortgage insurance or PMI. Enter a percentage or dollar value for the PMI, and it will be included in the mortgage calculation. Once your equity on the house is over 20%, it will be automatically removed from our calculation. You may have to contact your lender or bank to have them remove the PMI payment once your equity is over 20%. Property Tax (Yearly) - property tax is a tax that you have to pay by owning the house. You can enter a property tax amount or as a percentage of your house. Home Insurance (Yearly) - every house needs to pay home insurance in case of unforeseen damages such as fire, flooding, and hurricane. HOA Fees (Monthly) - some houses are required to pay a monthly homeowners association fee or HOA fees. Payment Frequency - you have the option to choose monthly and bi-weekly payments. The amortization schedule will be shown accordingly. By default, the monthly payment option is selected. First Payment Date - if your payment doesn't start today, you can choose a date from the past or in the future when you start your mortgage payment. Amortization Schedule - you have the option to see the breakdown of each payment or group by them by year and only show how much you will be paying and the balance remaining each year. Extra Payment - if you want to pay off your mortgage earlier, you can choose to make an extra payment towards the principal. Our mortgage calculator supports four types of extra payments, one-time lump sum payments, recurring monthly, quarterly, or yearly extra payments. You can even combine multiple extra payments in a single calculation. To get the most accurate mortgage report, enter as many relevant fields as possible. For example, if your down payment is less than 20%, you will likely need to pay for the PMI each month, then you should input the percentage for the PMI.



Amortization Schedule

The mortgage calculator with PMI comes with a downloadable and printable mortgage amortization schedule that you can save and print as a pdf file. The mortgage amortization schedule has all the details of each monthly mortgage payment such as monthly fees, principal, interest, taxes and insurance, and the total monthly or biweekly payment. You will see the payoff date, the total interest, principal as well as the total payments made after the mortgage is paid off.


You will also get a mortgage comparison table that compares the monthly and biweekly payment options. A borrower will be able to see the total interest, extra payment, fees, payoff date for each payment frequency as well as the amount of savings if one chooses the bi-weekly payment option.


Mortgage Calculator App

The all-in-one mortgage calculator is available for download on the Play Store. If you have an Android device, you can install the free mortgage calculator app in your pocket. The advanced mortgage calculator app offers the same functionalities as the online mortgage calculator which includes options for extra payments, PMI, taxes and insurance. There is also a simple version that requires only the mortgage amount, loan terms, and interest rate which can be used as a loan calculator for any type of loan. Just like our online mortgage calculator, you can print, save and export the results to pdf. The app is one of the best mortgage calculator apps for Android with a rating of 4.6.


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