The Mambuca Group Inc
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Mortgage Calculator

Discover Your Monthly Mortgage Payment
Estimate principal, interest, PMI, taxes, insurance, and HOA fees with Mambuca’s calculator. Input home price, down payment, and ZIP code for a detailed breakdown and amortization schedule.
Enter costs
Price of home: $
Downpayment: $
Interest rate: %
Loan term (years):
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How to calculate your mortgage payment
Mambuca’s mortgage calculator lets you tailor your home loan details. Enter your ZIP code for personalized tax and insurance estimates, or leave fields blank to use defaults.
Your monthly payment covers more than just the loan amount. The principal is the borrowed sum you repay over time, while interest is the fee charged by the lender for providing the funds.
For many, the payment also includes costs like homeowner’s insurance and property taxes, held by your lender in an escrow account until due. Additional fees, such as private mortgage insurance (PMI) or homeowner’s association (HOA) dues, may apply.
Home Price
The amount you plan to pay for your home.
Down Payment
Most loans require at least 3%, though VA or USDA loans may allow zero. A 20% or higher down payment eliminates PMI.
Loan Program
Choose 30-year fixed, 15-year fixed, or others to see cost impacts.
Interest Rate
The annual cost of borrowing, as a percentage.
PMI
Required if down payment is less than 20%, typically $50–$150 monthly.
Property Taxes
Based on home price and ZIP code, divided by 12 for monthly cost.
Home Insurance
Annual premium, often 0.5%–1% of home value, for damage or liability.
HOA Dues
Monthly fees for community services, if applicable.
How is PMI calculated?
Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It’s calculated as a percentage of your loan amount, typically 0.5% to 1% annually, added monthly. For a $298,000 loan ($300,000 home, $2,000 down), a 1% PMI rate yields ~$248/month.
Factors Affecting PMI Costs
Down Payment: Smaller down payments increase PMI rates.
Loan-to-Value Ratio (LTV): Loan amount divided by home value; higher LTV raises PMI.
Credit Score: Higher scores can lower PMI rates.
Mortgage Type: Adjustable-rate loans may have higher PMI.
Loan Amount: Larger loans increase PMI costs.
Payment Options
Monthly: Added to your mortgage payment.
Upfront: Paid at closing to reduce monthly costs.
Split: Part upfront, part monthly.
Key Notes
PMI is Temporary: Cancel when equity reaches 20%.
Protects the Lender: Covers lender losses if you default.
PMI uses 1% for LTV > 90%, 0.75% for LTV 80%–90%, 0% for LTV ≤ 80%. Override in advanced settings if needed.
Mortgage Payment Breakdown
Your monthly mortgage payment is made up of several components, calculated as:
Principal + Interest + PMI (if needed) + Escrow (if included) = Total Monthly Payment
Here’s what each part means:
Principal: The portion of the loan amount you’re repaying each month.
Interest: The lender’s charge for borrowing the money, based on your rate.
PMI: Insurance required if your down payment is less than 20%, protecting the lender if you default.
Escrow: Funds collected monthly to cover property taxes, homeowner’s insurance, or HOA fees, paid on your behalf by the lender.
Total Payments: To find the number of payments, multiply your loan term by 12. For example, a 30-year loan has 360 payments (30 x 12 = 360).

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The Mambuca Companies.
9800 NW 75th Street
Fort Lauderdale, FL, 33321
support@byownerway.com
(615) Own-Ways
(954) 247-4475

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