Mortgage Calculator • Amortization Engine
Mortgage Calculator with PMI and Taxes
Estimate your true monthly mortgage payment, analyze live amortization schedules, test extra principal savings, and calculate refinance break-even dates.
3-in-1
Payment • Refi • Afford
4 Loans
Conv • FHA • VA • USDA
$0
100% Free Forever
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Loan Details
Conventional
Conventional: Standard loan. PMI required if down payment is under 20%. PMI drops off at 80% LTV.
$400,000
$
$80,000 (20%)
%
⚠️ Down payment <20% — PMI / MIP will apply.
30 years
6.75%
%
Jul 2026
Taxes & Insurance (Annual)
1.20%
% / yr
$1,500/yr
$
$0/mo
$
/mo
⚡ Add Extra Monthly Payment (pay off sooner)
$0/mo
$
/mo
Your estimated payment
Edit detailsYour Estimated Monthly Payment
$2,487
Principal + Interest + Taxes + Insurance + HOA
P&I
$2,071
Property Tax
$400
Insurance
$125
HOA + PMI
$0
Loan Amount
$320,000
20% down
Total Interest
$185K
37% of loan
Payoff Date
Jun 2056
360 payments
🐝 Beelinger Freedom Insight
Extra Payments = Years of Your Life Back
Pay $200/mo extra → save
~$31K interest
Pay $200/mo extra → finish
4.5 yrs sooner
Pay $500/mo extra → save
~$66K interest
Pay $500/mo extra → finish
9 yrs sooner
Total Payment Breakdown
Amortization Schedule
| Year / Month | Payment | Principal | Interest | Balance |
|---|
Take this calculator to open houses
The Beelinger Mortgage Calculator Android app includes bi-weekly calculators, closing costs, and PDF export for your lender.
ARMBi-weeklyClosing costsRent vs. buyPDF export
Free on Android
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Affordability Inputs
Your Income & Budget
$85,000/yr
$/yr
$350/mo
$/mo
Down Payment & Loan
$40,000
$
6.75%
%
30 years
1.20%
% / yr
$1,500/yr
$
What you can afford
Edit detailsMaximum Home Price
$320,000
Based on the 28% housing ratio rule
28% Rule Max Payment
$1,983/mo
36% DTI Max Payment
$2,200/mo
Recommended Price
$280,000
Est. Monthly Payment
$2,100
Max Loan Amount
$280,000
14% down
Monthly Housing Budget
$1,983
At 28% of gross income
Income Needed
—
At 28% rule
Budget Breakdown
🔄
Refinance Details
Current Loan
$280,000
$
7.50%
%
27 years
New Loan
6.25%
%
30 years
$6,000
$
Your refinance break-even
Edit detailsBreak-Even Point
24
months until refinancing pays for itself
Monthly Savings
$250
New vs. current payment
Current Payment
$1,958
At 7.50%
New Payment
$1,724
At 6.25%
Closing Costs
$6,000
Recovered at break-even
Lifetime Interest Comparison
Keep Current Loan
After Refinance
Know Before You Sign
The Real Truth About Mortgages Most People Learn Too Late
A mortgage is the largest liability most households ever manage. Understanding the true amortization curve protects you from overpaying thousands in bank interest.
What Is a Mortgage, Really?
A mortgage is a secured loan on real property. Each payment is split between principal and interest. In early years, up to 80% of your payment covers interest charges rather than actual home equity.
The Beelinger Lens: A mortgage is not wealth; it is a financial instrument. True wealth comes from your underlying savings rate and the compounding assets you build beside the mortgage.
The 4 Core Components of Any Mortgage
Loan Amount
Home price minus down payment. The higher this number, the greater the compounding drag on your monthly cash flow.
Down Payment
20% down avoids Private Mortgage Insurance (PMI) on conventional loans and reduces starting loan balances.
Loan Term
30 years lowers payments but doubles interest. 15 years carries lower rates and cuts lifetime interest in half.
Interest Rate
Even a 0.5% rate difference on a $320,000 mortgage equals over $30,000 in additional interest charges.
Every Cost You Will Pay as a Homeowner
| Cost Category | Typical Amount | Frequency |
|---|---|---|
| Principal & Interest | Varies by loan rate | Monthly |
| Property Taxes | ~1.1% of value/yr (US Avg) | Monthly Escrow |
| Homeowners Insurance | $1,000–$2,500/yr | Monthly Escrow |
| PMI / MIP | 0.3%–1.9% of loan/yr | Monthly (if <20% down) |
| HOA Dues | $50–$500+/mo | Monthly (Community dependent) |
| Routine Maintenance | 1%–2% of home value/yr | Annual Reserve |
Helpful Next Tools
Planning down payment and cash flow logistics?
Work with Beelinger Money Coach to review your wallet, eliminate fee leaks, and design a balanced housing plan.
Mortgage Calculator FAQ
How accurate is this mortgage calculator?
It uses standard bank amortization formulas and includes property taxes, PMI, insurance, and HOA dues. Exact lender quotes will depend on your verified credit score and closing date.
What is the 28/36 rule for home affordability?
The 28% rule states your total housing payment should not exceed 28% of gross income. The 36% rule states all debt payments combined (housing + cars + student loans) should not exceed 36% of gross income.