Comprehensive Mortgage Calculator: Estimate Payments, Taxes, and LTV Ratio
Estimate your payment, total cost and loan-to-value instantly. Enter principal, rate, term, taxes and insurance; the calculator applies the standard amortization formula to every scenario. The average U.S. property-tax bite is 1.1 % of a home’s assessed value (Tax Foundation, 2022).
Mortgage Calculator
Mortgage Results
Monthly Payment:
Total Payment:
Total Property Tax:
Total Insurance Cost:
Total Cost:
Loan to Value Ratio:
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How to use the tool
Principal Amount ($) – Type the home price or loan target before down payment. Try $280,000 or $515,000.
Annual Interest Rate (%) – Enter the quoted yearly rate, not a decimal. Try 4.10 or 5.25.
Loan Term (Years) – Choose the repayment length. Try 18 or 25.
Down Payment ($) – Input the cash you will bring to closing. Try $56,000 or $103,000.
Annual Property-Tax Rate (%) – Use your county’s figure. Try 1.40 or 0.90.
Annual Insurance Rate (%) – Enter homeowners-insurance cost as a percent of value. Try 0.45 or 0.70.
Press Calculate Mortgage to view payment schedule, total costs and LTV.
Formulas the calculator applies
Monthly payment
$$
M = P \; rac{r(1+r)^{n}}{(1+r)^{n}-1}
$$
Annual add-ons
$$
\text{Tax} = V \times t \qquad \text{Insurance} = V \times i
$$
Loan-to-Value
$$
\text{LTV} = rac{P – D}{V} \times 100\%
$$
Example calculation
Principal $300,000, Down $60,000
Rate 4.10 %, Term 18 years
Tax 1.10 %, Insurance 0.60 %
Monthly payment: ≈ $1,572
Total payment: ≈ $339,552
Total tax: $59,400
Total insurance: $32,400
Total cost: ≈ $431,352
LTV: 80 %
Quick-Facts
Minimum down payment on many conventional loans: 3 % (Fannie Mae Selling Guide, 2023).
Lenders may cancel PMI when LTV reaches 78 % (CFPB, 2022).
Average U.S. property-tax rate: 1.1 % of assessed value (Tax Foundation, 2022).
Typical homeowners-insurance premium: $1,428 per year (Insurance Information Institute, 2022).
Average 30-year fixed mortgage rate in 2023: 6.54 % (Freddie Mac PMMS, 2023).
What does this mortgage calculator do?
The tool combines loan principal, interest, taxes and insurance to output your monthly payment, total lifetime cost and loan-to-value ratio in seconds. It runs the same amortization math lenders use, letting you preview housing costs before you apply (CFPB, 2022).
How is the monthly mortgage payment calculated?
The payment comes from the amortization formula above: principal times monthly rate, multiplied by the compound-interest factor, divided by the factor minus one. This spreads interest and principal evenly over the loan term (Fannie Mae Selling Guide, 2023).
What is a “good” LTV ratio?
An LTV at or below 80 % is desirable because you avoid private mortgage insurance and often qualify for lower rates (CFPB, 2022). “The loan-to-value ratio remains the single best indicator of default risk” (Federal Reserve Bulletin, 2021).
How much should I put down?
The median first-time buyer puts 13 % down (NAR, 2022). Larger down payments cut loan size, monthly cost and LTV, but tying up cash reduces liquidity.
How do property taxes affect my monthly cost?
Lenders usually collect one-twelfth of your annual tax bill each month. A 1.1 % tax rate on a $300,000 home adds about $275 to your monthly escrow (Tax Foundation, 2022).
When can I drop PMI?
For conventional loans, the lender must automatically cancel PMI when your scheduled balance hits 78 % of the original value; you can request removal at 80 % if payments are current (CFPB, 2022).
How does changing the term affect interest paid?
Shorter terms raise the monthly payment but slash interest. A 15-year loan at 6 % costs about 54 % less interest than a 30-year loan at the same rate on the same principal (Freddie Mac, 2023).
Are online calculators accurate?
They are accurate for principal and interest because the formula is fixed. Variance appears in taxes, insurance and fees, which depend on local rates and lender policies—verify those numbers with your county assessor and insurer (CFPB, 2022).
Important Disclaimer
The calculations, results, and content provided by our tools are not guaranteed to be accurate, complete, or reliable. Users are responsible for verifying and interpreting the results. Our content and tools may contain errors, biases, or inconsistencies. We reserve the right to save inputs and outputs from our tools for the purposes of error debugging, bias identification, and performance improvement. External companies providing AI models used in our tools may also save and process data in accordance with their own policies. By using our tools, you consent to this data collection and processing. We reserve the right to limit the usage of our tools based on current usability factors. By using our tools, you acknowledge that you have read, understood, and agreed to this disclaimer. You accept the inherent risks and limitations associated with the use of our tools and services.
