Mortgage Payment Calculator

The Most Useful Mortgage Payment Calculator

What is The Mortgage Payment Calculator and How It Can Help You

Buying a home is easier with the use of simple online mortgage payment calculator that can help you answer all your financial questions and get you crucial and useful information about your mortgage repayment.


The mortgage or amortization table calculator is an online financial tool that is specially designed not only to calculate mortgage payments, rates and everything else, but it can be also use to compare different mortgage deals. It is the quickest way to decide, which home loan is the most suitable for you, how much will your payments be and how much money you can borrow from bank or some other financial institution.

Mortgage Payment Calculator
Currency Mortgage start date
Home Value
Mortgage Amount
Interest rate (%)
Amortization Period (Year)
Property Taxes (yearly)
Insurance (yearly)
PMI (yearly)
HOA (yearly)





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Many different calculators can be found online, but some of them are not giving you a whole picture because some important mortgage costs are not included in their calculation. The fact is that every loan has to be insured and you will have to pay for that, so before you start to calculate your mortgage, make sure that you use a proper mortgage payment calculator that takes into consideration also costs of insurance, especially costs of PMI (Private Mortgage Insurance) that can be very expensive.

Which Mortgage Payment Calculator is the best?

Every online calculator that can help you find out the amount of your home loan or your monthly payments, should include not only some basic information about your mortgage, like the mortgage amount, term and interest rate but also different taxes and costs.

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The mortgage payment calculator has to include annual income and property taxes that are based on home’s value, your income, property and so on. But taxes are not only additional expenses of your home loan – you will definitely have to pay for different insurances that protect the lender in case you stop paying your home loan.

One of those insurances is called PMI (Private Mortgage Insurance) and it is required for all borrowers with less than 20% down payment. Homeowners insurance is another important mortgage insurance and provides protection from different events that can cause damage to your property. It is sometimes included in HOA Fee (Homeowners Association Fee) that covers costs of various services (maintaining, snow removal, garbage collection, etc.) provided by community’s Homeowner Association.


The Mortgage Payment Calculator Will Help You Save Your Money

Make a Smart Financial Decision

Before you start paying for your home loan, it is good to have as many information about it as possible. You can get that with mortgage payment calculator that will give you a complete monthly or annual amortization table of your mortgage payments that can be calculated for loans with known payoff date.

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An amortization table is a schedule of periodic payments with all important details you should know about your mortgage. Using it you can easily see what your total payment principal is and what amount of interest you will have to pay every month or year. All you need to calculate it is the amount of total mortgage payment, the term of your home loan and a little help of properly designed mortgage payment calculator that will definitely help you find the most suitable mortgage scheme for you and help you also save some of your money.

The fact is that mortgages can be expensive, so it is important to choose the right one. The online mortgage payment calculator can help you compare different home loans even if you do not have any financial knowledge at all. The best way to find out the real total cost of any mortgage is using EIR (Effective Interest Rate).

It does not include only an interest rate of a home loan, but also different costs, fees, and charges, so when bank offers you a mortgage, do not forget to ask for its EIR, because you would need this information later, when you would want to compare different mortgages and decide which one is the most inexpensive option for you. Making that kind of important financial decision is a lot easier with the use of mortgage payment calculator, so find one online and start calculating the best options for your future!