Mortgage Calculator
Estimate your monthly mortgage payment with principal, interest, property tax, home insurance, PMI and HOA — plus total interest and an amortization schedule.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter the home price, down payment, rate and term.
- 2Add yearly property tax, insurance and any HOA fee to see the full monthly cost (PITI).
- 3Add an extra monthly payment to see how much sooner you'd pay it off.
How it's calculated
Principal & interest = L × r ÷ (1 − (1 + r)⁻ⁿ) with L = price − down payment, r = rate ÷ 12, n = years × 12. PMI (when the down payment is under 20%) = loan × PMI rate ÷ 12, until the balance reaches 78% of the price.
Frequently asked questions
What is PITI?
Principal, Interest, Taxes and Insurance — the four parts of a typical monthly mortgage payment. Lenders use it to judge affordability.
When do I pay PMI?
On conventional US loans with less than 20% down. It's typically 0.3–1.5% of the loan per year and is removed automatically at 78% loan-to-value.
How much do extra payments save?
Extra principal payments cut interest because future interest is charged on a smaller balance. The results show the months and interest saved.