Methodology

Core Formula (Fixed-Rate Mortgage)

We use the standard amortization formula:

M = P × r × (1 + r)n ÷ ((1 + r)n − 1)

• P = principal (loan amount)
• r = monthly interest rate (APR / 12)
• n = total number of payments (years × 12)

Taxes, Insurance, PMI, HOA

These are added to the monthly payment as user inputs. PMI is typically applicable when down payment < 20% and may drop at 20% equity.

Limitations

• We do not guarantee lender approval or rate availability.
• Local taxes and insurance vary; enter your own estimates for precision.