OpusDesk Hub What this tool does
Estimate fixed-rate mortgage payments and entered recurring costs. Loan principal = price − down payment. Principal/interest uses the monthly amortization formula, with principal divided by months at zero interest. Tax = price × annual tax percentage/100/12; insurance = annual insurance/12. The PMI field is a monthly percentage of original principal: principal × PMI/100.
How to use Mortgage Calculator
- Prepare the input. Enter price, down payment, annual interest and term.
- Run or configure the tool. Enter annual tax percentage, annual insurance amount and the monthly PMI percentage carefully.
- Check and use the output. Compare the breakdown with an actual lender estimate and local costs.
How this tool works
Loan principal = price − down payment. Principal/interest uses the monthly amortization formula, with principal divided by months at zero interest. Tax = price × annual tax percentage/100/12; insurance = annual insurance/12. The PMI field is a monthly percentage of original principal: principal × PMI/100.
Worked example
Input: Price 120,000; down payment 0; interest 0%; 30 years; tax, insurance and PMI all 0
Output: Principal/interest and total monthly estimate $333.33.
Limits, assumptions and interpretation
The PMI field is monthly, not an annual rate automatically divided by twelve. Enter 0 when no PMI applies.
- PMI stays based on original principal; automatic cancellation, eligibility rules and lender decisions are not modeled.
- No closing costs, fees, variable rates, rate resets or changing tax/insurance are included.
- Use a non-negative down payment below the price and meaningful non-negative costs. This is a planning estimate, not financial advice or a lender offer.
Supported inputs and limits
- Price 120,000; down payment 0; interest 0%; 30 years; tax, insurance and PMI all 0
- The PMI field is monthly, not an annual rate automatically divided by twelve. Enter 0 when no PMI applies.
- PMI stays based on original principal; automatic cancellation, eligibility rules and lender decisions are not modeled.
- No closing costs, fees, variable rates, rate resets or changing tax/insurance are included.
- Use a non-negative down payment below the price and meaningful non-negative costs. This is a planning estimate, not financial advice or a lender offer.
Sources and specifications
Planning assumptions
Rates are your inputs, not live quotations. A fixed-rate amortization estimate excludes fees, taxes, insurance, penalties and changing interest unless explicitly entered. Confirm the lender's actual schedule.
CFPB loan estimate explanationFrequently asked questions
What does this tool actually do?
Loan principal = price − down payment. Principal/interest uses the monthly amortization formula, with principal divided by months at zero interest. Tax = price × annual tax percentage/100/12; insurance = annual insurance/12. The PMI field is a monthly percentage of original principal: principal × PMI/100.
What should I check before using the result?
The PMI field is monthly, not an annual rate automatically divided by twelve. Enter 0 when no PMI applies. PMI stays based on original principal; automatic cancellation, eligibility rules and lender decisions are not modeled. No closing costs, fees, variable rates, rate resets or changing tax/insurance are included. Use a non-negative down payment below the price and meaningful non-negative costs. This is a planning estimate, not financial advice or a lender offer.
Is information sent to a server?
Tool inputs are processed in this browser. This product does not use analytics or send your input to an external API. Clicking an external website link still visits that website.