Full payment, not just P&I
Principal and interest is the smallest part of what you will write a check for. Tax, insurance, HOA and PMI are all modelled separately and shown as their own line items so you can see exactly what is driving the total.
About this tool
The mortgage calculator that shows the full picture
Most calculators return a principal-and-interest figure and leave you to guess the rest. MortgageTheGuide starts with the complete payment — tax, insurance, HOA and PMI included — then shows you concrete moves that change it, priced from your own numbers.
What this calculator actually does
Regional autofill
Pick your state or province and real regional averages fill in for property tax and homeowners insurance. A New Jersey payment and a Hawaii payment start from different numbers — because they are different numbers.
PMI modelled to the month
Private mortgage insurance is priced from your credit band and loan-to-value, then removed from the amortization schedule at the exact month you cross 20% equity. The automatic 22% termination date is shown too.
Concrete suggestions, not generic tips
The suggestion panel prices specific moves — a bigger down payment, a shorter term, extra monthly payments — against your scenario. Every suggestion shows the monthly change and the lifetime interest saved side by side.
Canadian rules, correctly applied
The Canadian calculator uses semi-annual compounding as required by the Interest Act, models CMHC default insurance premiums tier-by-tier, and shows both your actual payment and the stress-test qualification payment lenders use.
Sources you can verify
Rate data is sourced from Freddie Mac and the Bank of Canada. The methodology page documents every formula and every assumption. Cross-check links go directly to Bankrate, Fannie Mae and the CFPB so you can confirm any number independently.
What we believe about mortgage calculators
A mortgage is the largest financial commitment most people make. The number that decides whether it fits a budget is not the loan amount — it is the total monthly payment, and whether that payment can be improved given the buyer's actual situation.
Most free calculators hide half the payment behind defaults no one chose, or make the full-cost inputs hard to find. The result is a number that looks affordable in the browser and surprises you at closing.
MortgageTheGuide puts every assumption on the surface. Nothing is hidden behind a "standard" you did not set. If the defaults are wrong for your situation — change them. The tool recalculates live.
We link to our sources, document our formulas, and tell you what we do not model. A number you can check is a number you can act on.
Where the data comes from
- US mortgage rates Freddie Mac Primary Mortgage Market Survey — the most widely cited weekly rate series in the US, published every Thursday.
- Canadian mortgage rates Bank of Canada published conventional mortgage rate averages, updated weekly.
- Property tax rates State and provincial effective tax rates compiled from public assessment records and the Tax Foundation's annual survey data.
- Homeowners insurance Regional annual premium averages drawn from Insurance Information Institute and provincial insurance bureau data, by state and province.
- PMI pricing MGIC and Urban Institute rate tables, by loan-to-value band and credit score tier.
- CMHC premiums Published Canada Mortgage and Housing Corporation premium schedule, applied by down-payment tier as legislated.
Questions about this tool
Is MortgageTheGuide really free?
Yes, completely. There is no sign-up, no paywall, and no upsell to a paid tier. The calculator, the amortization schedule, the action plan PDF and all the guides are free to use without creating an account.
Where does the rate data come from?
US rates are pulled from Freddie Mac's Primary Mortgage Market Survey, the longest-running weekly rate series in the US. Canadian rates come from the Bank of Canada's published averages. Both are refreshed weekly and stamped with an observation date so you always know how fresh the number is.
How are property tax and insurance estimates calculated?
State and provincial averages are compiled from public tax assessment data and insurance industry surveys, then held in a lookup table keyed to your selected region. They autofill when you pick a state or province, but you can override either figure — your actual quotes are always more accurate than an average.
Does the calculator store my data?
Scenarios you save stay in your browser's local storage — nothing is sent to a server or tied to an account. Clearing your browser data removes them. The "My analyses" page reads that local store directly.
Who built this and why?
MortgageTheGuide was built by people frustrated with calculators that produce a principal-and-interest number and stop there. The real payment includes tax, insurance, HOA and PMI — and the decision that matters is what to do about it. The goal is to give anyone the same clarity a mortgage professional has, without having to call one first.
How is the Canadian calculator different from the US one?
Canadian mortgages use semi-annual compounding under the Interest Act, not monthly compounding. The monthly rate is (1 + annual rate ÷ 2)^(1/6) − 1 rather than annual rate ÷ 12. The Canadian version also models CMHC default insurance premiums, the mortgage stress test qualification payment, and amortization periods up to 30 years for eligible buyers.
Can I trust the numbers here to make a real decision?
The estimates are as accurate as publicly available data allows, and the methodology is fully documented on the "How we calculate" page. That said, this tool produces estimates, not a loan offer or financial advice. Property tax rates, insurance premiums and PMI costs vary by lender and property — always confirm with a licensed mortgage professional before committing.
Ready to run your numbers?
See your full monthly payment in under a minute, then explore what changes it.
US mortgage calculator PMI, state tax & insurance averages, 30- and 15-year rates Canadian mortgage calculator Semi-annual compounding, CMHC premiums, the stress test Guides & glossary PMI, down payment tiers, 15 vs 30 years — explained with live numbers How we calculate Every formula, every data source, every known limitation