Mortgage Payment Calculator
Mortgage P&I calculator with +1% stress check, optional 15-year comparison, extra principal payoff estimate, methodology, and a long-form guide—beyond a single headline number.
Summary: This page estimates monthly principal & interest (P&I) for a fixed-rate, level-payment loan. It does not include taxes, insurance, HOA, mortgage insurance, or closing costs — and it is not a Loan Estimate or underwriting decision.
What this tool does — and does not (tap to expand)
- Does: estimates monthly principal & interest (P&I) for a level-payment, fixed-rate loan using a standard amortization model.
- Does not: include property taxes, homeowners insurance, HOA, mortgage insurance, or closing costs. It is not a Loan Estimate, pre-approval, or underwriting engine.
Educational use only. Rates, programs, and rules change; always verify numbers with a licensed mortgage professional and your official disclosures.
Monthly payment calculator
Enter your loan details below. After you calculate, you will see a +1% rate stress check, an optional 15-year comparison (when you choose a 30-year term), first-payment split (interest vs principal), and—if you add an extra monthly amount—an approximate early payoff timeline.
Assumptions & methodology (short)
- Payments are assumed equal each month (fully amortizing).
- Rate is the nominal annual note rate, compounded monthly (common simplification).
- Extra payment is applied to principal after the scheduled P&I each month (simplified model; lenders may apply prepayments differently).
- Rounding differs by lender; totals may differ slightly from your statement.