Mortgage Calculators

Payments, insurance, points, refinancing and payoff schedules. 7 calculators for buyers and owners. Property values, rent and closing costs sit under Real Estate.

PITI payment is where to start, because a mortgage quote is almost never the whole payment. PITI stands for Principal, Interest, Taxes and Insurance, and the last two often add 25 to 40% on top of the loan payment people actually budget around. A quote of $1,600 in principal and interest can land near $2,100 once escrow is in it.

PMI (Private Mortgage Insurance) is charged when the down payment is under 20%, and it protects the lender rather than you. The number worth knowing is when it stops. On a conventional loan it cancels at 80% loan-to-value on request and automatically at 78%, and that schedule comes from the original amortisation rather than from the market, so a rise in the home’s value does not clear it by itself.

Discount points turn entirely on how long you keep the loan. Sell or refinance before the break-even and buying the rate down lost money.