Estimate the true monthly payment on an investment property, including principal, interest, taxes, insurance, PMI, and HOA. Then see how extra payments shorten the loan and whether the rent actually covers the bill. Free, instant, and no email required.
A mortgage payment has four standard parts: Principal, Interest, Taxes, and Insurance, or PITI. Principal and interest come from the amortization formula: each month you pay interest on the remaining balance (annual rate ÷ 12 × balance), and the rest of the fixed payment reduces principal. Early on, most of the payment is interest; the split flips over time. Property tax and insurance are usually escrowed and added on top, along with PMI (if you put down less than 20%) and HOA dues. On a $300,000 property with 20% down at 7% for 30 years, principal and interest alone run $1,596.73 a month; the calculator shows the full stack in a live donut breakdown.
Private mortgage insurance protects the lender, not you, and it applies when your down payment is under 20%. It typically costs 0.3% to 1.5% of the loan amount per year, billed monthly. By law (the Homeowners Protection Act), PMI must terminate automatically when your balance amortizes down to 78% of the original property value, and you can request cancellation at 80%. The calculator applies PMI only when your down payment is under 20% and drops it automatically in the schedule the month your balance crosses 78% LTV, so you'll see exactly when, and how much PMI you pay in total.
A 15-year loan carries a lower rate and dramatically less total interest, but a much higher payment that eats monthly cash flow. A 30-year loan maximizes cash flow and flexibility, and you can always pay it like a 15-year loan with extra principal payments, without being contractually locked in. Most buy-and-hold investors choose 30-year terms for the cash-flow cushion, then prepay when it suits them. Flip the term select between 30, 20, 15, and 10 years to compare payments and total interest side by side.
Every extra dollar goes straight to principal, which shrinks the balance that next month's interest is charged on, and the savings compound for the entire remaining life of the loan. On a $240,000 loan at 7% for 30 years, just $200 extra per month saves roughly $108,000 in interest and pays the loan off more than 8 years early. The calculator models a recurring monthly extra plus an optional one-time lump sum (a tax refund, a bonus), and shows interest saved, time saved, and your new payoff date next to the baseline.
Before buying a rental, check whether the rent actually covers the full monthly payment: PITI plus HOA. Enter your expected monthly rent and the calculator shows your surplus or shortfall and a coverage percentage. A property at 100% coverage is breaking even on the mortgage alone; vacancy, maintenance, management, and turnover still come out of your pocket, so experienced landlords look for meaningful surplus (lenders' DSCR programs typically want rent at 100% to 125% of the payment, or more). For the full deal analysis, pair this with our Cap Rate Calculator and Rental Property ROI Calculator.
Yes: 100% free, no account, no email, unlimited use. It's part of Advanced Collection Bureau's free toolkit for landlords and property managers.
Yes, it's built for them. Investment-property loans usually require 15% to 25% down and rates about 0.5% to 0.875% above owner-occupied loans; enter your quoted rate and terms and the math is identical. The rent-coverage check is specifically for rentals.
PMI is estimated as your entered annual percentage of the original loan amount, charged monthly until the balance reaches 78% of the purchase price, the standard automatic-termination point. Your actual PMI rate depends on credit score, LTV, and loan type, so confirm the exact premium with your lender.
Yes. Enter annual amounts and the calculator escrows them monthly into the total payment, exactly as most servicers do. Investment properties often lose homestead exemptions, so check the assessor's non-exempt rate, and price a landlord (dwelling-fire) policy rather than a standard homeowner's policy.
Paying extra earns a guaranteed return equal to your mortgage rate; at 7% or higher, that's hard to beat risk-free. But many investors prefer keeping cash for reserves or the next down payment. Use the extra-payment comparison to see the exact dollars saved, then weigh it against your alternatives.
The interest rate is what the amortization math uses, and that's what you enter here. APR bundles the rate with closing costs and fees to make loan offers comparable; it's a shopping tool, not a payment input.
Use the "What a better rate is worth" table. It re-runs the full amortization at every quarter-point from 1% below to 1% above your current rate and shows the monthly payment and lifetime-interest difference for each. On a $240,000 30-year loan, dropping from 7% to 6.75% saves about $40 a month and roughly $14,400 in interest over the term. Enter each lender's quoted rate, read the savings or cost straight off the table, and share the scenario link with your co-buyer or broker.
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