Mortgage Calculator with Taxes & Insurance

This Mortgage Calculator takes into account taxes and insurance and generates a loan amortization schedule for your mortgage. It displays the interest you will pay as well as the principal balances.

Additionally, this calculator calculates the savings if you were to make additional periodic principal prepayments over the term of the mortgage. Press the "View Report" button to generate your amortization schedule.


This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing “Install ActiveX Control”.
    You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!

Mortgage Calculator with Taxes & Insurance - Definition

Mortgage amount - Original or expected balance for your mortgage loan.
Interest rate - Annual interest rate for this mortgage loan.
Term in years - The number of years over which you will repay this mortgage loan. The most common mortgage terms are 15 years and 30 years.
Monthly payment (PI) - Monthly loan principal and interest payment (PI).
Monthly payment (PITI) - Monthly payment including loan principal, interest, property taxes and home owners insurance (PITI).
Annual property taxes - The annual amount you expect to pay in property taxes. This amount is divided by 12 to determine the monthly property tax included in PITI.
Annual home insurance - The annual amount you expect to pay in home owners insurance. This amount is divided by 12 to determine the monthly home owners insurance< included in PITI.
Total payments - Total of all monthly payments over the full term of the mortgage loan. This total payment amount assumes that there are no prepayments of principal.
Total interest - Total of all interest paid over the full term of the mortgage loan. This total interest amount assumes that there are no prepayments of principal.
Prepayment type - The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
Prepayment amount - Amount that will be prepaid on your mortgage loan - loan prepayment. This amount will be applied to the mortgage principal balance, based on the prepayment type.
Start with payment - This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assumed to happen before the first payment of the loan.