Calculate your exact monthly payment, PMI insurance costs and amortization comparison — built specifically for US mortgage rules.
New to mortgage math? Understanding amortization helps you make smarter decisions about down payments, loan terms, and interest rates.
📖 Read the Amortization Guide✏️ Edit the fields with your details then tap Calculate. Learn about amortization →
Want to understand these numbers deeper? Our amortization guide explains where your payment goes, why interest matters, and how to save thousands.
Read the Full Guide →MortgageMasher uses correct US mortgage formulas — with monthly compounding — to give you an accurate monthly payment. Simply enter your home price, down payment, interest rate and loan term to instantly see your full mortgage picture.
US mortgages compound interest monthly (12 times per year), unlike Canadian mortgages which compound semi-annually. This makes the calculation straightforward for US borrowers. MortgageMasher uses the correct US formula throughout all calculations.
PMI is required when your down payment is less than 20% of the purchase price. It protects the lender if you default and is added to your monthly mortgage payment. You can request PMI removal once you reach 20% equity in your home.
Conventional: Standard loan requiring at least 5-20% down. Requires PMI if under 20%.
FHA: Government-backed loan requiring just 3.5% down. Includes mandatory Mortgage Insurance Premiums (MIP).
VA: Available to eligible military service members. Requires 0% down with VA funding fee.