Mortgage Calculator

This is a free mortgage calculator on Saving.am. It estimates your monthly payment, full cost of ownership (principal and interest, property tax, insurance, PMI, HOA), amortization schedule, and the impact of extra payments. You can compare two loan scenarios side by side. Results are estimates for informational purposes only and do not constitute financial advice.

Annuity (fixed-rate) means a fixed monthly payment over the loan term: the share going to principal increases over time and the share going to interest decreases. Classical (linear) means a fixed principal amount is paid each month; the interest portion shrinks as the balance falls, so your total monthly payment decreases over time. The first payment is highest in the classical method.

PMI (Private Mortgage Insurance) is insurance that protects the lender if you default. Lenders typically require it when your down payment is below about 20%. PMI is usually removed when your loan-to-value (LTV) ratio falls at or below a threshold, often 78%. You can set the threshold in the calculator; it will show the month when PMI drops off your schedule.

Loan-to-value (LTV) is the ratio of your loan balance to the home value, expressed as a percentage. LTV is used to determine when PMI can be removed: when LTV falls at or below the threshold you set (e.g. 78%), the calculator stops adding PMI. Enter your home value (or purchase price) in the calculator so it can compute LTV over the life of the loan.

HOA (Homeowners Association) is a monthly fee for shared amenities, maintenance, or common areas, such as in condos or gated communities. The calculator adds this to your total monthly payment. If your loan does not include HOA fees, enter 0.

You can add recurring extra payments (e.g. a fixed amount every month) and/or a one-time lump sum at a chosen month. Extra payments are applied to principal, which reduces the balance faster and shortens the loan term. The calculator shows how much interest you save and how many months you save compared to the base schedule with no extras.

Yes. The Compare tab lets you set Scenario A (e.g. your base loan) and Scenario B with a different term or extra monthly payment. You see side-by-side total interest, payoff date, and monthly P&I, plus a chart comparing how the balance decreases over time for each scenario.

Overpayment in percentage terms is (total interest paid + total PMI paid) divided by the loan amount, times 100. It shows how much extra you pay on top of the principal over the life of the loan. For example, 50% means you pay half again the loan amount in interest and PMI combined.

"Total amount" is the sum of the loan principal plus all interest and all PMI you will pay over the life of the loan. It is the total cost of the loan itself, before property tax, insurance, or HOA, which are shown separately in your monthly payment.

Yes. Use the term selector to choose "Years" or "Months" and enter the value. The calculator converts everything to a single amortization schedule. For example, 20 years or 240 months both produce a 240-payment schedule.

The amortization table shows month by month: payment number, year and month, principal paid, interest paid, PMI (if any), total monthly payment, and remaining balance. You can expand to see the full schedule and export it to Excel for your records.

The calculator supports three currencies: Armenian dram (AMD), US dollar (USD), and euro (EUR). All loan amounts, payments, and results are shown in the selected currency. You can switch currency in the bar above the calculator.

No. This calculator provides estimates for informational and educational purposes only. Results depend on the data you enter and do not reflect actual loan offers. For real terms, decisions, or advice, consult a qualified lender or financial advisor.