Free Mortgage Calculator
Use our free and advanced mortgage repayment calculator to estimate your monthly payments, explore loan options, and understand the true cost of homeownership.
Whether you’re buying your first home or refinancing, this tool helps you calculate your mortgage – including taxes, insurance, PMI, and HOA fees – all in one place.
Advanced Mortgage Repayment Calculator
Estimate your monthly payments, compare loan options, and see the impact of extra payments
Loan Details
Additional Costs
Your Monthly Payment
Loan Summary
Amortization Schedule
🧭 How to Use the Estate Skyline Mortgage Calculator
Our advanced home loan calculator helps you estimate monthly payments, compare loan options, and understand how extra costs like taxes and insurance impact your budget. Below is a complete guide to help you get the most accurate results.
🏠 Loan Details Section
- Home Price: Enter the total price of the property you’re buying or considering.
- Down Payment: Input how much you’re putting down upfront – either in dollars or as a percentage.
- Interest Rate (%): Type in your expected or actual mortgage interest rate.
- Loan Term (years): Choose how many years you’ll take to repay the loan – typically 15, 20, or 30 years.
💰 Additional Costs Section
- Property Tax (yearly): Estimate your annual property tax. If unsure, use 1–2% of the home price.
- Home Insurance (yearly): Input your expected annual premium.
- PMI (yearly): Add this if your down payment is less than 20%.
- HOA (monthly): Enter your HOA dues if applicable.
📈 Understanding the Results
Click “Recalculate Payment” and the calculator will update:
- Monthly Payment Breakdown: A color-coded chart showing Principal & Interest, Property Tax, Insurance, and any PMI/HOA fees.
- Total Monthly Cost: Displayed at the top of the chart.
📋 Loan Summary Includes:
- Loan Amount
- Down Payment
- Total Interest Paid
- Total Loan Payments
- Payoff Date
📊 Amortization Schedule
Shows how each monthly payment is split between principal and interest, and tracks your remaining loan balance over time.
📚 Glossary of Mortgage Terms
- Down Payment: Cash you contribute upfront. Larger down payments reduce your loan size and may eliminate PMI.
- Interest Rate: Annual percentage charged by the lender. Lower rates mean lower monthly and total payments.
- Loan Term: Total repayment time in years. Shorter terms save interest but raise monthly costs.
- Property Taxes: Annual taxes paid monthly into an escrow account.
- Homeowners Insurance: Coverage for damage, disasters, and loss.
- PMI: Required if you put down less than 20%. Protects the lender.
- HOA Fees: Monthly dues if you’re in a managed community.
🔁 Compare Different Loan Scenarios
Adjust interest rates, down payments, or loan terms to see how your monthly payment changes. Test freely – you won’t break anything!
📌 Final Tip:
Your monthly mortgage cost is more than just principal and interest. By using this calculator, you’re getting a comprehensive, real-world estimate of what homeownership will truly cost each month – so you can plan better, borrow smarter, and buy with confidence.
❓ Frequently Asked Questions
Yes! Enter your remaining loan balance, desired rate, and new term to estimate your new monthly payment when refinancing.
It provides a close estimate based on your inputs. Actual terms may vary depending on your lender, credit score, and location-specific costs.
Typically 20% or more helps you avoid PMI, but FHA loans allow as little as 3.5%. Use the calculator to see how different amounts affect your monthly payment.
Yes – you can input your expected annual property taxes and insurance to see a more complete monthly payment estimate.