Miami · Mortgage Payment Calculator
See your real monthly payment in seconds.
Estimate principal, interest, taxes, insurance, and PMI — and run the full amortization schedule. No sign-up, no email required.
See year-by-year amortization schedule
| Year | Principal | Interest | Paid this year | Remaining balance |
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Calculator FAQ
Questions people ask about mortgage math
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four pieces of a typical monthly mortgage payment. Most lenders collect taxes and insurance into an escrow account and pay them on your behalf.
When do I pay PMI?
Private mortgage insurance is typically required on conventional loans when your down payment is less than 20%. It can be canceled once you reach roughly 20% equity. VA loans have no PMI. FHA loans use MIP instead, with its own rules.
How accurate is this calculator?
The math is exact — it uses the standard amortization formula lenders use. The accuracy of your personal payment depends on the inputs. Your actual rate will depend on credit, property, and loan program. For a real rate and pre-approval, reach out directly.
How are Miami property taxes estimated?
Miami-Dade property taxes typically run 1.0%–1.4% of assessed value annually, with homestead exemption for primary residences. The default of $6,000 on a $500K home is a conservative 1.2% estimate. Always verify the real tax amount from the Miami-Dade Property Appraiser site.
15-year vs 30-year — which is better?
A 15-year loan has a higher monthly payment but you pay far less total interest over the life of the loan. A 30-year loan has a lower payment and more flexibility. Try both in the calculator above — seeing the "Total interest" number is usually eye-opening.