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Mortgage Calculator for Self-Employed & Freelancers

Free mortgage calculator with property tax, homeowner's insurance, and PMI estimates. See your total monthly payment breakdown, amortization schedule, and compare how different down payments affect your costs. Includes total cost of ownership analysis. Tailored with tips and guidance for Calculators optimized for self-employed individuals, freelancers, and gig workers..

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Self-EmployedTips for Self-Employed & Freelancers

  • 1You pay both employee and employer portions of FICA — 15.3% total (12.4% SS + 2.9% Medicare)
  • 2Estimated quarterly tax payments are due Apr 15, Jun 15, Sep 15, Jan 15
  • 3The qualified business income (QBI) deduction can save up to 20% on pass-through income
  • 4Track all business expenses — home office, equipment, software, and mileage are deductible
  • 5Consider a SEP-IRA (up to $69,000 in 2024) or Solo 401(k) for retirement savings
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About Mortgage Calculator for Self-Employed & Freelancers

This mortgage calculator is specifically designed for Calculators optimized for self-employed individuals, freelancers, and gig workers.. Whether you're just getting started or looking to optimize your financial strategy, this calculator provides the insights you need to make informed decisions.

Why Self-Employed & Freelancers Need This Calculator

Self-Employed & Freelancers face unique financial considerations that generic calculators don't address. Use the tips above alongside this mortgage calculator to get a complete picture of your financial situation. The calculator is completely free, runs instantly in your browser, and never stores your personal data.

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%
Estimated Monthly Payment
$2,236.46
Loan: $280,000 at 6.5% for 30 years
Monthly Breakdown
P&I
$1,769.79
Tax
$350.00
Insurance
$116.67
Payment Breakdown
Monthly
$2,236.46
Principal & Interest79.1%
Property Tax15.6%
Insurance5.2%
Total Cost of Ownership (30 years)
Total Payments
$805,125
Home Price$350,000
Down Payment−$70,000
Total Interest Paid$357,125
Total Taxes & Insurance$168,000
Interest is 127.5% of the loan amount over 30 years.
Down Payment Comparison
Down PaymentAmountLoanMonthly P&IPMITotal Monthly
5%$17,500$332,500$2,101.63$138.54$2,706.83
10%$35,000$315,000$1,991.01$131.25$2,588.93
15%$52,500$297,500$1,880.40$123.96$2,471.03
20%Current$70,000$280,000$1,769.79None$2,236.46
PMI (Private Mortgage Insurance) is typically required when your down payment is less than 20% of the home price. It protects the lender, not the borrower, and is removed once you reach 20% equity.
Amortization Schedule
MonthPaymentPrincipalInterestBalance
1$1,769.79$253.12$1,516.67$279,746.88
2$1,769.79$254.49$1,515.30$279,492.38
3$1,769.79$255.87$1,513.92$279,236.51
4$1,769.79$257.26$1,512.53$278,979.25
5$1,769.79$258.65$1,511.14$278,720.60
6$1,769.79$260.05$1,509.74$278,460.54
7$1,769.79$261.46$1,508.33$278,199.08
8$1,769.79$262.88$1,506.91$277,936.20
9$1,769.79$264.30$1,505.49$277,671.90
10$1,769.79$265.73$1,504.06$277,406.16
11$1,769.79$267.17$1,502.62$277,138.99
12$1,769.79$268.62$1,501.17$276,870.37
... 345 more rows ...
358$1,769.79$1,741.34$28.45$3,511.03
359$1,769.79$1,750.77$19.02$1,760.26
360$1,769.79$1,760.26$9.53$0.00
Disclaimer: This calculator provides estimates for informational purposes only. Actual payments may vary based on your specific loan terms, credit score, location, and lender requirements. Property taxes and insurance rates vary by location and coverage. PMI rates depend on credit score and loan-to-value ratio. Consult with a qualified mortgage professional for accurate payment information.