Mortgage Calculator | Use our Mortgage Calculator with Taxes, Insurance and Amortization Schedule

Use our mortgage calculator to generate an amortization schedule for your current mortgage or to figure out how much you can afford to borrow. Calculating mortgage payments monthly can help you figure out how much house you can afford. You can quickly see how much mortgage interest and mortgage principal you will monthly and annually by using our mortgage calculator. You can also view your total principal and interest payments. Our mortgage calculator also allows you to enter your estimated insurance and property taxes (PITI) for a total monthly payment amount. Try out our calculator to calculate mortgage payments.

Mortgage Calculator Definitions

Mortgage Loan Amount
Original balance for your mortgage loan if you are buying or expected mortgage balance if you are refinancing.
Mortgage Rate
Annual mortgage rate for this mortgage loan.
Mortgage Term in Years
The number of years over which you will repay this mortgage loan.
Monthly Mortgage Payment (PI)
Monthly mortgage loan principal and mortgage loan interest payment (PI).
Monthly Mortgage Payment (PITI)
Monthly mortgage loan payment including principal, interest, home owners insurance and property taxes.
Property Taxes Annual
The annual amount you expect to pay in local property taxes. This tax amount is divided by 12 to determine the monthly property tax included in PITI.
Homeowners Insurance Annual
The annual amount you expect to pay in home owners insurance. This amount is divided by 12 to determine the monthly home owners insurance included in PITI.
Total Mortgage Loan Payments
Total of all monthly mortgage loan payments over the full term of the mortgage loan. This assumes that there are no prepayments of mortgage principal.
Total Mortgage Loan Interest Payments
Total of all mortgage interest paid over the full term of the mortgage loan. This total interest amount assumes that there are no prepayments of mortgage principal.
Mortgage Prepayment Type
The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
Prepayment amount
Amount that will be prepaid on your mortgage loan. This amount will be applied to the mortgage principal balance, based on the prepayment type.
Start with payment
This is the payment number that your prepayments will begin with. For a one time mortgage prepayment, this is the payment number that the single prepayment will be included in.
Mortgage Prepayment Savings
Total amount of interest you will save by prepaying your mortgage loan.


The mortgage calculator and the results are made available to our website visitors as a self help tool. Monitor Bank Rates LLC cannot and does not guarantee the accuracy. The example above is hypothetical and is for illustrative means only.