How the payment is calculated
Payment = P × r ÷ (1 − (1 + r)−n)
P is the loan amount, r the monthly interest rate and n the number of monthly payments. Taxes, insurance and HOA dues are then added to get the full payment, often called PITI.
Example
A $350,000 property with 20% down leaves a $280,000 loan. At 6.75% over 30 years, principal and interest are about $1,816 a month. Add $350 of property tax and $125 of insurance and the full payment is roughly $2,291.
Investment property loans
Rates on investment properties usually run higher than on a home you live in, and lenders typically ask for 15–25% down. Get a quote for your situation before relying on any rate.
Common questions
Is PMI included?
No. Most investment property loans require 20% or more down, which avoids PMI. Add it to the HOA field if your loan has it.
How much interest will I pay?
The calculator shows total interest over the full term, assuming you keep the loan and make every scheduled payment.