Mortgage Payoff Lab

Enter your details to estimate your total monthly property expenses.

Mortgage Payment Calculator

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.

Understanding Your Mortgage

When you use a mortgage calculator, it helps to understand the main parts of your payment:

  • P&I (Principal & Interest): Your base loan payment to the lender.
  • Escrow (Taxes & Insurance): Often collected monthly and paid out annually.
  • HOA: Monthly fees for managed communities (if applicable).

Tips to Save Money Over Time

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).

Trust & Transparency

How This Calculation Works

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.

Our Assumptions

  • Interest is compounded monthly.
  • Property taxes and insurance are estimated using annual figures divided by 12.
  • PMI is not included in this basic estimate.

Formula & Logic Last Updated: December 31, 2025