Calculadora de Hipoteca

Una hipoteca es un préstamo a largo plazo utilizado para comprar una propiedad. El pago mensual se calcula con la fórmula: M = P × [r(1+r)^n] / [(1+r)^n − 1], donde P es el monto del préstamo, r la tasa de interés mensual y n el número total de pagos.

Ingresa el precio de la vivienda, el porcentaje de enganche (pago inicial), la tasa de interés anual y el plazo del préstamo en años para obtener la cuota mensual exacta, el total de intereses pagados y la tabla de amortización mes a mes.

Mortgage Calculator

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Calculate mortgage payments, affordability, refinance savings, and extra payment impact. Complete PITI calculator with PMI, taxes, and insurance.

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Down Payment

Interest Rate (%)

Loan Term (years)

Property Tax/yr

Insurance/yr

HOA/mo

PMI Rate (% annual)

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How to Calculate Mortgage Payments: Step-by-Step

The exact formula behind mortgage calculations, with worked examples.

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Amortization Schedule Explained

How each mortgage payment splits between principal and interest over time.

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Best Free Mortgage Calculator in 2026: 6 Compared

We tested 6 free mortgage calculators on accuracy, features, ads, and mobile UX.

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📚 In-Depth Guide

This calculator is part of a comprehensive guide

The Complete Mortgage Guide 2026: Calculations, Types, Rates & Strategies

Full Guide

The definitive 2026 mortgage guide: monthly payment formula step-by-step, amortization schedules, 30-year vs 15-year comparison, FHA/VA/USDA/jumbo loan requirements, PMI removal, closing costs breakdown, refinancing break-even analysis, and 10 proven strategies to save thousands. Includes free mortgage, loan, and down payment calculators.

View all guides →

Mortgage at a Glance

$2,299/mo

Average monthly mortgage payment in the US (2024, NAR)

$431,000

Median US home sale price (Q1 2024, Federal Reserve)

28%

Maximum housing-to-income ratio recommended by lenders

1934

Year the FHA was created, making 30-year fixed mortgages standard

What Is a Mortgage Payment Formula Loan Types History Research FAQ

What Is a Mortgage?

A mortgage is a loan secured by real estate — when you take one out, the property becomes collateral for the debt. The lender can foreclose and take ownership if you stop making payments. Most mortgages bundle four cost components known as PITI:

Principal — the portion of each payment that reduces your loan balance.
Interest — the lender's fee for lending you money, expressed as an annual percentage rate (APR).
Taxes — property taxes assessed by local government, collected monthly in escrow.
Insurance — homeowners insurance (required) plus PMI if your down payment is under 20%.

Loan-to-Value (LTV) measures the loan balance as a percentage of the home's value. A $320,000 loan on a $400,000 home is 80% LTV. When LTV exceeds 80%, lenders typically require Private Mortgage Insurance (PMI) — which protects the lender (not you) in case of default and costs roughly 0.5–1.5% of the loan per year.

Amortization is the process of paying off a loan through scheduled payments. In the early years of a 30-year mortgage, the vast majority of each payment goes to interest. By year 15, the split begins to favor principal. This is why extra early payments have such a dramatic effect on total interest paid.

Key Facts

65% of Americans are homeowners — a rate that has remained largely stable since the 1960s.

The average first-time buyer age is 36 years old (NAR 2024).

The first 5 years of a 30-year mortgage are mostly interest — you're building equity slowly at first.

20% down eliminates PMI and saves roughly $100–200/month on a $400k home.

Payment Formulas

Monthly P&I

M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1]

P = loan amount · r = monthly rate (APR ÷ 12) · n = term in months (e.g., 360 for 30 years)

Total Monthly (PITI)

PITI = P&I + Tax/12 + Insurance/12 + PMI

Property tax and insurance are divided by 12 and added to the base principal & interest payment each month.

PMI Estimate

PMI = (Loan × 0.005) ÷ 12

Approximately 0.5–1.5% of loan amount per year. Automatically canceled at 78% LTV (Homeowners Protection Act).

Mortgage Type Comparison

Type	Rate (2024 avg)	Best For	Risk	Down Payment
30-Year Fixed	6.9%	Long-term stability, budget predictability	Low	3–20%
15-Year Fixed	6.2%	Faster payoff, less total interest	Low	5–20%
5/1 ARM	6.0%	Short-term ownership (< 7 years)	Medium-High	5–20%
FHA Loan	7.0%	First-time buyers, lower credit (580+)	Low	3.5%
VA Loan	6.5%	Veterans, active military	Low	0%
Jumbo Loan	7.2%	Homes > $766,550 (conforming limit)	Medium	10–20%

History of the American Mortgage

1934
National Housing Act creates the FHA. The first 30-year self-amortizing mortgage emerges, replacing risky balloon-payment loans that caused mass foreclosures during the Depression.
1938
Fannie Mae (FNMA) established to create a secondary mortgage market, buying loans from banks and freeing capital for new lending.
1968
Freddie Mac chartered; the 30-year fixed mortgage becomes the American standard — representing over 70% of all originations.
1981
Adjustable Rate Mortgages (ARMs) introduced during an 18% interest rate environment, giving borrowers an alternative to unaffordable fixed rates.
2006–2008
Subprime mortgage crisis: lax underwriting standards, predatory products, and securitization trigger a $10 trillion housing crash — the worst since the Great Depression.
2020–2023
COVID-era rates hit 2.65% (record low, January 2021), sparking a buying frenzy. Rates surge to 7%+ by late 2023 as the Fed fights inflation.

Research & Data

National Association of Realtors

NAR 2024 Home Buyer Report

65% of home purchases were financed with a mortgage. First-time buyers made up 32% of all buyers. The median down payment was 8%; first-time buyers averaged 6%.

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Federal Reserve Financial Accounts

Federal Reserve Z.1 Report

Total US home mortgage debt reached $13.0 trillion in 2024, representing the largest single asset class held by American households (27% of total household assets).

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Consumer Financial Protection Bureau

CFPB Mortgage Market Report

Borrowers who obtained 4+ mortgage quotes saved an average of $1,200 in interest in the first year alone, with cumulative savings potentially exceeding $10,000 over the loan life.

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Mortgage Myths vs. Facts

✗ Myth

“You need a 20% down payment to buy a home.”

✓ Fact

FHA loans require only 3.5% down (580+ credit score). Conventional loans allow 3% down through programs like Fannie Mae HomeReady. VA loans require 0% down for eligible veterans. The trade-off: PMI adds $100–300/month until you reach 20% equity. USDA loans also offer 0% down in rural areas.

✗ Myth

“Renting is throwing money away.”

✓ Fact

This depends heavily on location, duration, and opportunity cost. In high-cost markets (SF, NYC), the buying vs. renting break-even often exceeds 7–10 years. The "true cost" of homeownership includes property taxes, maintenance (1–2% of value annually), insurance, HOA, and transaction costs (6% agent fees = $24,000 on a $400k home).

✗ Myth

“30-year mortgages always cost more than 15-year.”

✓ Fact

While a 30-year pays more interest over the full term, it's not always the wrong choice. The lower payment frees cash for investments. If you earn 9% in the market and your mortgage is 7%, the 30-year with excess investment may build more total wealth. Compare after-tax cost of mortgage vs. expected investment returns.

✗ Myth

“You should always pay off your mortgage early.”

✓ Fact

The optimal strategy depends on your mortgage rate vs. investment returns. At 3–4% mortgage rates (common 2020–2022), investing excess cash in index funds at historical 7–10% returns is mathematically superior. At 7%+ mortgage rates, extra principal payments often make more sense. Never sacrifice retirement contributions to pay extra on a low-rate mortgage.

Frequently Asked Questions

What is the difference between a mortgage and a home loan?▾

They're the same thing — "mortgage" is the legal term for the lien placed against the property. The mortgage document pledges the home as collateral for the loan. If you stop making payments, the lender can foreclose (take ownership) through a legal process. In common usage, mortgage and home loan are interchangeable.

What does PITI stand for?▾

PITI = Principal, Interest, Taxes, and Insurance. This is the total monthly housing cost: (1) Principal — the portion repaying the loan balance, (2) Interest — the cost of borrowing, (3) Property Taxes — typically 1–2% of home value annually divided monthly, and (4) Insurance — homeowners insurance plus PMI if down payment was under 20%. Lenders often require property taxes and insurance to be paid through an escrow account.

What is PMI and how do I get rid of it?▾

Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the purchase price. It protects the lender (not you) if you default. Cost: 0.5–1.5% of loan amount annually. PMI is automatically canceled when you reach 78% LTV (Homeowners Protection Act). You can request cancellation at 80% LTV. With 3% down on a $400k home, PMI could cost $125–250/month for 5–10 years.

What is the difference between pre-qualification and pre-approval?▾

Pre-qualification is a quick estimate based on self-reported information — no credit check, not binding. Pre-approval is a thorough review: the lender verifies income, assets, and credit (hard inquiry) and issues a conditional commitment letter. Sellers and agents strongly prefer pre-approved buyers. In competitive markets, many sellers won't accept offers without pre-approval letters.

How does refinancing work and when should I do it?▾

Refinancing replaces your existing mortgage with a new one — usually to lower the rate, change the term, or access equity. The "breakeven rule": divide closing costs (typically $3,000–6,000) by monthly savings to find breakeven months. If you plan to stay past the breakeven point (often 24–48 months), refinancing makes sense. The general guideline: refinance if you can lower your rate by 0.75–1%+.

What are points and should I buy them?▾

Mortgage discount points are upfront fees paid to permanently lower your interest rate. 1 point = 1% of the loan amount and typically reduces your rate by 0.25%. On a $400,000 loan: 1 point = $4,000 to save ~0.25% ($67/month on a 30-year). Breakeven: about 60 months. If you plan to stay 7+ years, buying points often makes sense. Don't pay points on a loan you'll refinance or sell within 3 years.

What is the debt-to-income limit for a mortgage?▾

Most conventional lenders use two DTI limits: (1) Front-end ratio (housing only): max 28%. (2) Back-end ratio (all debts): max 36–45%. FHA loans allow back-end DTI up to 57% with compensating factors. Lenders calculate DTI using gross monthly income. On a $90,000 salary: max housing payment ~$2,100 (28%); max total debt ~$2,700 (36%).

What is an escrow account?▾

An escrow account is a separate account managed by the lender (or servicer) to collect and pay property taxes and homeowners insurance. Each month, a portion of your payment goes into escrow. When the annual tax bill or insurance renewal comes due, the servicer pays it from escrow. This ensures these critical expenses are always paid, protecting the lender's collateral interest.

What is LTV and why does it matter?▾

Loan-to-Value (LTV) = Loan Balance ÷ Home Value × 100. Lenders use LTV to assess risk. LTV under 80%: no PMI, best rates. LTV 80–95%: PMI required, slightly higher rates. LTV 95%+: very limited loan options, high rates. LTV is recalculated as you pay down the mortgage and as the home appreciates. Home equity = (1 − LTV/100) × 100%.

How does a 15-year vs. 30-year mortgage compare?▾

On $400,000 at 7% (2024 rates): 30-year = $2,661/month, total interest = $558,036. 15-year = $3,595/month, total interest = $247,100. Savings: $310,936 in interest. Trade-off: $934 more per month. That $934 difference invested monthly at 9% for 30 years would grow to ~$1.76 million — potentially more than the $310k interest saved.

What is a jumbo loan?▾

A jumbo loan exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. For 2024: $766,550 for most areas (higher in high-cost metros like NYC and San Francisco). Jumbo loans aren't sold to Fannie/Freddie, so lenders keep them on their books — requiring stricter standards (720+ credit, 10–20% down, 6 months reserves) and typically charging 0.25–0.5% higher rates.

What happens during the home closing process?▾

Closing (also called settlement) is the final step of the home purchase. Typically 30–60 days after contract acceptance: title search, title insurance, home inspection, appraisal, final underwriting, clear-to-close. On closing day: sign ~100 pages of documents, pay closing costs (2–5% of purchase price), hand over down payment, and receive the keys. Total time from application to closing: 30–90 days.

References

National Association of Realtors. (2024). 2024 Profile of Home Buyers and Sellers. nar.realtor
Federal Reserve. (2024). Financial Accounts of the United States (Z.1). federalreserve.gov
Consumer Financial Protection Bureau. (2023). Mortgage Market Annual Report. consumerfinance.gov
Freddie Mac Primary Mortgage Market Survey (PMMS). (2024). 30-Year Fixed Rate Archive. freddiemac.com
HUD/FHA. (2024). Annual Report to Congress on the Financial Status of the FHA. hud.gov