🏠 Mortgage Payment Calculator

Complex Calculation Example: This mortgage calculator demonstrates advanced features including the PMT function, named variables, currency formatting, and conditional styling. All calculations happen in real-time!

Loan Details

Home Price

Total purchase price of the home

Down Payment

Initial payment (typically 10-20%)

Down Payment %

Calculated automatically

Loan Amount

Amount to be financed

Interest Rate (Annual %)

Annual interest rate (e.g., 6.5 for 6.5%)

Loan Term (Years)

Length of mortgage (15, 20, or 30 years)

Monthly Payment

Monthly Payment (P&I)

Additional Costs

Property Tax (Monthly)

Estimated monthly property tax

Home Insurance (Monthly)

Monthly home insurance premium

PMI (if down payment < 20%)

Private Mortgage Insurance

HOA Fees (Monthly)

Homeowners association dues

Total Monthly Payment

Loan Summary

Total of 360 Payments
Total Interest Paid
Total Cost (Principal + Interest)
Debt-to-Income Ratio (Monthly Payment / $5,000 Income)

First Year Amortization Schedule (Preview)

Understanding Your Payments

Principal: The portion that pays down your loan balance
Interest: The cost of borrowing (goes to the lender)
Balance: Remaining amount you owe
In early years, most of your payment goes toward interest!

Month	Payment	Principal	Interest	Remaining Balance