About MyMortgagePay

MyMortgagePay is an independent project with a simple goal: help anyone understand what a mortgage will really cost before talking to a lender — with no sign-up, no sales calls and no personal data collected.

Who's behind the site

MyMortgagePay is built and maintained by Sergio as an independent project. It is not owned by a bank, lender, mortgage broker or lead-generation company, and it doesn't earn commissions for recommending any financial product. It's not an advisory service either: it's a set of calculators and guides to help you make your own decisions with better information.

Why it exists

Many mortgage calculators ask for your email or phone number before showing results, or exist mainly to route you to a particular lender. We wanted the opposite: a fast calculator that works well on a phone, runs entirely in your browser (nothing you enter is sent to a server), and shows the full picture — principal, interest, taxes, insurance, PMI and HOA — plus how the loan evolves year by year.

How we calculate

  • Principal and interest use the standard amortization formula for fixed-rate loans: Payment = L · r / (1 − (1 + r)⁻ⁿ). Our guide to the amortization schedule explains it step by step.
  • Property tax, homeowners insurance, PMI and HOA dues are added as monthly amounts based on the figures you enter. PMI is applied only when the down payment is below 20%.
  • The extra payment calculator applies your extra amount to principal every month and compares the result with the standard schedule.
  • Results are estimates. They don't include closing costs, changes in taxes or insurance over time, or rate changes on adjustable-rate loans.

How we write our guides

  • Sources: consumer information and rules published by U.S. federal agencies — such as the Consumer Financial Protection Bureau, HUD for FHA loans, and the Department of Veterans Affairs — along with the published guidelines of Fannie Mae and Freddie Mac.
  • Reproducible examples: every number in our examples is calculated with the same formula as our calculator, so you can check it with your own inputs.
  • Updates: each guide shows the date it was last updated. When a rule changes or we find a mistake, we correct the guide and update the date.
  • Honest limits: when something depends on your state, your lender or your personal situation — taxes, program eligibility, lender overlays — we say so and point you to where to check.

How the site is funded

MyMortgagePay is free to use and supported by ads served by Google AdSense on some pages. Google selects the ads; they don't influence our content. We don't accept payment from lenders to appear in guides or to change calculator results. You can read how advertising cookies are handled in our privacy policy.

Spotted a mistake?

If a calculation doesn't match, a figure is out of date or something is unclear, please tell us — details are on our contact page.