Mortgage Calculator
Estimate your monthly home loan payment including principal, interest, property tax, insurance, and HOA fees. Share your results with a link.
Loan details
Optional monthly costs
How to use this calculator
1. Enter the basics
Start with the home price and your expected down payment. The calculator shows your loan amount and how that down payment compares as a percentage — under 20% usually triggers PMI.
2. Add the rate and term
Pick your loan term (30 years is most common in the US; 15-year loans save large amounts of interest but raise the monthly payment). Enter the quoted APR from your lender.
3. Include the extras for a real PITI
Property tax, homeowner's insurance, HOA dues, and PMI are not optional in practice. Skipping them can understate your true monthly cost by hundreds of dollars.
Tips for a sharper estimate
Look up your county's actual property tax rate and your home's tax-assessed value rather than a guess. Most lenders escrow taxes and insurance into your monthly payment, so what you owe the bank really does match what you see here.
Mortgage payment FAQs
How is the monthly mortgage payment calculated?
The principal and interest portion uses the standard amortization formula: M = P × (r(1+r)n) / ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of payments. Property tax, insurance, HOA, and PMI are added on top.
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four main components of a typical monthly mortgage payment. This calculator also adds HOA dues and PMI when applicable.
Do I need to pay PMI?
Private Mortgage Insurance is typically required on conventional loans when your down payment is less than 20% of the home's purchase price. It's often automatically dropped once you reach 22% equity.
Is this calculator accurate?
It's an estimate. Actual payment depends on your lender, credit profile, exact tax rates, escrow requirements, and any points or fees. Use this number for planning, then confirm with a lender for a real quote.