Mortgage Calculator - Sonraji.com

🏦 Loan Details

Enter mortgage parameters for comprehensive analysis

Loan Information

Home Price ($)

Down Payment ($)

Loan Amount ($)

Interest Rate (%)

Loan Term

Property Costs

Annual Property Tax ($)

Annual Home Insurance ($)

PMI Rate (% annually)

Monthly HOA Fees ($)

Generate amortization schedule

📊 Payment Analysis

Complete mortgage cost breakdown

Enter loan details to see mortgage calculations

📈 Payment Breakdown

Monthly payment components

📊 Principal vs Interest

Payment composition over time

Understanding Mortgages

A mortgage is a loan used to purchase real estate, where the property serves as collateral. Understanding the components of mortgage payments helps in making informed financial decisions.

Principal & Interest

Principal pays down the loan balance while interest is the cost of borrowing. Early payments are mostly interest.

Property Tax & Insurance

Often escrowed with mortgage payments. Property tax funds local services while insurance protects against damage.

PMI Requirements

Private Mortgage Insurance is required when down payment is less than 20%, protecting the lender against default.

Amortization

The gradual reduction of debt through regular payments. Early payments are interest-heavy, later payments reduce principal more.

Advanced Mortgage Calculator