Mortgage Calculator
Calculate your monthly payments and total costs
Mortgage Amount
$0
Monthly Payment
$0
Property Tax
$0
Heating Cost
$0
Total Monthly Cost
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Free Mortgage Calculator - Estimate Your Home Loan Payments
Our comprehensive mortgage calculator helps you estimate your monthly payments, total interest, and amortization schedule for any home loan. Whether you're looking for a simple mortgage calculator, reverse mortgage calculator, or home loan comparison tool, our calculator provides accurate results instantly. Calculate your debt to income ratio, loan to value ratio, and mortgage insurance cost with this powerful home finance calculator.
Why Use Our Mortgage Calculator?
Complete Mortgage Analysis
Our mortgage loan calculator provides detailed breakdowns of principal, interest, taxes, and insurance (PITI).
Loan Comparison
Compare different mortgage rates and terms with our home loan comparison feature.
Amortization Schedule
View complete mortgage amortization schedule showing principal vs. interest over time.
DTI & LTV Calculations
Calculate your debt to income ratio for mortgage and loan to value ratio instantly.
How to Calculate Your Mortgage Payments
Enter Home Price
Input your property value for accurate home loan calculator results.
Set Interest Rate
Use current mortgage interest rates or compare different rates.
Choose Loan Term
Select 15, 20, or 30 year terms for your home loan EMI calculator.
Get Results
View your monthly mortgage payment and total loan cost instantly.
Types of Mortgage Calculators
Basic Mortgage Calculator
Estimate payments with our simple mortgage calculator for quick results.
Reverse Mortgage Calculator
Calculate potential payments with our HECM calculator for seniors.
Bank-Specific Calculators
Specialized tools like SBI home loan calculator for bank-specific rates.
Commercial Property Calculator
Analyze business loans with our commercial property loan calculator.
Key Mortgage Concepts Explained
Amortization
Amortization refers to the process of paying off your mortgage through regular payments over time. Our mortgage amortization calculator shows how each payment is split between principal and interest.
Understanding amortization helps you see how much equity you're building and how much interest you'll pay over the life of your home loan.
Debt-to-Income Ratio (DTI)
Your debt to income ratio is a key factor lenders use to determine mortgage eligibility. Our DTI calculator helps you understand this critical metric.
A good debt to income ratio for mortgage approval is typically below 43%, though some lenders may accept higher ratios for qualified borrowers.
Loan-to-Value Ratio (LTV)
The loan to value ratio compares your mortgage amount to the home's value. Our LTV calculator helps determine if you'll need private mortgage insurance (PMI).
Most conventional loans require PMI if your LTV ratio exceeds 80%, making our mortgage insurance cost calculator an essential tool.
Comparison Rates
When comparing loans, the home loan comparison rate includes both the interest rate and most fees to show the true cost.
Our mortgage comparison tools help you evaluate different mortgage quotes to find the best deal for your situation.
Mortgage Calculator FAQs
1. How accurate is this mortgage calculator?
Our mortgage estimator provides highly accurate estimates based on current mortgage interest rates and standard calculations used by lenders.
2. What's the difference between a mortgage calculator and home loan calculator?
While both our mortgage calculator and home loan calculator estimate payments, the home loan version often includes additional features specific to certain markets.
3. Can I use this for a reverse mortgage calculation?
Yes, our reverse mortgage calculator (also called HECM calculator) helps seniors estimate potential payments from a reverse mortgage.
4. How do I calculate my debt-to-income ratio?
Our DTI calculator automatically computes your debt to income ratio for mortgage qualification when you input your monthly debts and income.
5. What's included in the amortization schedule?
The mortgage amortization schedule shows how each payment is split between principal and interest over the life of your loan.
Start Calculating Your Mortgage Today!
Whether you're a first-time homebuyer using our house budget calculator, comparing mortgage rates with our mortgage rate estimator, or checking your SBI home loan eligibility, our comprehensive mortgage loan calculator provides all the tools you need for informed financial decisions.
Use our home finance calculator to estimate payments for conventional loans, Fannie Mae home value estimator compatible mortgages, or property loan calculator for investment properties. Get started now with our mortgage pre qualification calculator to understand what you can afford!