FAQ
Mortgage Calculator FAQ
Last updated: October 2025
Mortgage calculator FAQ — quick answers to the questions we get most about state property taxes, PMI/MIP, escrow, extra principal, discount points, CSV export and sharing scenarios.
About this mortgage calculator FAQ and how to use it
Use these answers to estimate payments accurately and understand how taxes, insurance and mortgage insurance affect your monthly total. For live results, open our Mortgage Calculator.
General Questions
How accurate are state property tax estimates?
We use typical effective annual rates by state as a starting point. County and city rates vary, so you can override the rate in the calculator.
Do you include PMI or FHA/VA specifics?
Yes. Conventional loans estimate PMI until ~78% LTV. FHA includes upfront and annual MIP; VA has a funding fee and no monthly PMI.
What’s escrow and what’s included?
Escrow adds monthly amounts for property taxes and homeowners insurance to your payment. Some loans also escrow mortgage insurance.
How do discount points affect the rate?
As a rough rule, 1 point (1% of the loan) may reduce the rate by ~0.25%, but it varies by market and lender—always compare break-even.
Using the Mortgage Calculator
How do I use state taxes in my estimate?
Select your state in the dropdown. We auto-fill a typical effective tax rate; edit it to match your county if needed.
How do extra principal payments work?
Add an amount in Extra principal. We’ll shorten the payoff, cut interest, and show estimated PMI removal timing for conventional loans.
Can I export the amortization schedule?
Yes. Click Export amortization (CSV) on the calculator to download your full schedule.
Can I share my scenario?
Yes. Click Share this scenario to copy a link with your inputs pre-filled.
Where can I learn more?
Read our guides: How Much House Can I Afford?, PMI—How It Works, Closing Costs by State.
For consumer mortgage basics, visit the CFPB mortgage resources.