Monthly payment, lifetime interest, extra-payment payoff, and how much house your income supports.
Extra payments go straight to principal and shorten the loan.
PMI applies automatically when the down payment is under 20%, and drops off once you reach 20% equity.
Uses the 28/36 rule: housing under 28% of gross income, total debt under 36%.
This mortgage calculator breaks your monthly payment into principal, interest, taxes, insurance, PMI, and HOA (PITI), shows the lifetime interest on the loan, and reveals how much sooner extra payments retire the balance. It also runs an affordability check against the lender's standard debt-to-income guidelines.
The principal and interest portion comes from the standard amortization formula using your loan amount, rate, and term. We then add property taxes, homeowners insurance, PMI (if your down payment is under 20%), and any HOA dues to give the full PITI payment.
Most lenders use the 28/36 rule: housing should stay under 28% of gross monthly income and total debt under 36%. The affordability section works backward from your income and debts to a maximum price, and you can adjust the ratios.
Yes. Every extra dollar goes straight to principal, which shrinks the balance that future interest is charged on. Even small monthly extras can cut years off the loan and save tens of thousands in interest.