Mortgage Payoff Lab
Enter your details to estimate your total monthly property expenses.
Enter your details to estimate your total monthly property expenses.
Planning to buy a home? Mortgage Payoff Lab helps you estimate your monthly housing costs so you can budget with confidence. This calculator includes the common components of a payment—principal, interest, property taxes, homeowners insurance, and HOA fees—so you can understand the true monthly cost.
When you use a mortgage calculator, it helps to understand the main parts of your payment:
Increase your down payment: A larger down payment reduces your loan balance and interest.
Compare loan terms: 15-year vs 30-year mortgages can drastically change total interest paid.
Pay extra principal: Even small extra payments can reduce interest and shorten payoff time (coming soon in Mortgage Payoff Lab).
Our calculator uses the industry-standard amortization formula used by banks and lenders. However, final loan terms depend on your specific lender, credit score, and local tax rates.
A 30-year term offers lower monthly payments, while a 15-year term helps you pay off the home faster and saves you significant money in total interest over the life of the loan.
Yes. Unlike many financial tools, we do not require a login or collect your data. Everything stays in your browser.
We use the standard amortization formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]. Where P is principal, i is monthly interest, and n is number of months. PITI represents Principal, Interest, Taxes, and Insurance.
Formula & Logic Last Updated: December 31, 2025