Frequently Asked Questions

Find answers to common questions about our mortgage calculator and how to use it effectively.

What is this mortgage calculator?

A free online tool that calculates your estimated monthly mortgage payment including principal, interest, property taxes, homeowners insurance, PMI, and HOA fees. It also shows amortization schedules and the impact of extra payments.

How accurate is this mortgage calculator?

Our calculator uses standard mortgage amortization formulas — the same math used by lenders. Results are highly accurate for estimation. Actual loan terms may vary based on credit score, debt-to-income ratio, and lender requirements.

Is my data private and secure?

Yes. All calculations are performed entirely in your browser. No financial information is sent to our servers. Your inputs are saved only in local storage and never leave your device.

What's included in the monthly payment calculation?

Principal and interest (P&I), property taxes, homeowner's insurance, private mortgage insurance (PMI) if applicable, and HOA fees if specified. Together these make up your total monthly housing payment (PITI).

How is PMI calculated and when can I remove it?

PMI is required for conventional loans with less than 20% down. It costs 0.3%-1.2% of the loan amount annually. PMI can be removed at 20% equity and is automatically cancelled at 22% equity.

Can I export my results?

Yes. Click "Download PDF" after calculating to save a complete report including all inputs, payment breakdown, and loan summary.