Mortgage Calculator for Conventional, FHA, and VA Loans
Estimate your full monthly payment — principal, interest, taxes, insurance, and PMI — for a VA, FHA, or conventional loan, then explore payoff strategies. Built by Dorazio Real Estate, a veteran-owned Chicagoland team and VA loan specialists.
Loan Details
Taxes, Insurance & Extras
Estimated Monthly Payment
$0/mo
& Interest
Estimated Cash to Close
Extra Payment Impact
Loan Balance Over Time
| Year | Principal | Interest | Balance |
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Want these numbers run against a real property? Reach out for detailed VA, FHA, and conventional loan inquiries and recommendations.
Talk With Our TeamHow to use this calculator
Enter a home price and down payment, then fine-tune the interest rate and loan term to match your situation. Open the advanced costs to add property taxes, homeowners insurance, HOA dues, and PMI for a true all-in monthly payment. The donut chart breaks down where each dollar goes, and you can add an extra monthly payment to see how much interest you would save and how many years sooner the loan would be paid off.
Understanding your monthly payment
A mortgage payment is often called PITI — Principal, Interest, Taxes, and Insurance. Principal pays down what you borrowed; interest is the cost of borrowing it; property taxes and homeowners insurance are typically collected monthly and held in escrow. If your down payment is under 20%, most loans also add PMI (private mortgage insurance) until you build enough equity. HOA dues, when they apply, are billed separately by your association but are included here so the total reflects your real cost of ownership.
What is amortization?
Amortization is the schedule that gradually pays off your loan over its term. Each payment is split between interest and principal, but the mix shifts over time: in the early years most of your payment goes toward interest, and as the balance falls, more goes toward principal. That is why even a small extra payment early on has an outsized effect — it reduces the balance that future interest is calculated on. Use the amortization schedule to see the year-by-year breakdown of how your balance, interest, and principal change over the life of the loan.
VA, FHA & conventional loans
Use the Loan Type selector at the top to switch between Conventional, FHA, and VA. Each one handles mortgage insurance and upfront fees differently, and the calculator adjusts automatically:
VA Loan
For eligible veterans and service members. Often $0 down with no PMI. Choose VA and the calculator finances the VA funding fee into the loan. This is our specialty — ask us about your VA entitlement.
FHA Loan
Lower down payments (as little as 3.5%) with flexible credit. Choose FHA and we add the upfront MIP (financed) plus monthly MIP, including how long it lasts based on your down payment.
Conventional
The most common loan type. Put 20% down to avoid PMI entirely, or less down with PMI that drops off automatically once you reach 20% equity.
Ready to talk numbers on a real property?
Veteran-owned and Chicagoland-focused — ask us about VA loans with $0 down.
Contact Dorazio Real EstateEstimates are for planning purposes only and do not constitute a loan offer or financial advice. Actual rates, taxes, insurance, PMI, and government loan fees (VA funding fee, FHA MIP) vary by lender, property, and borrower profile. Notice an issue, have a question, or a suggestion for this tool? Let us know.