Mortgage Calculator

Estimate your full monthly payment — principal, interest, taxes, insurance, PMI and HOA — then see your amortization schedule and how extra payments cut the cost.

🔒 Runs entirely in your browser — nothing is sent anywhere

Your mortgage

The purchase price of the property.

Cash you pay upfront.

Common terms are 15 or 30 years.

Your fixed annual rate (APR).

Other monthly costs Optional

Add these to see your true all-in monthly payment (PITI). Leave blank if they don't apply.

Annual amount; divided by 12.

Annual homeowner's premium.

Only if down payment is under 20%.

Monthly association dues.

Pay it off faster

Added to principal every month.

How this works

Your payment is more than just the loan. Here's how each piece is worked out.

1

We size your loan

The loan amount is your home price minus your down payment. A larger down payment means a smaller loan — and can remove PMI.

2

We amortize it

Using the standard formula we compute your fixed monthly principal & interest, then build the full month-by-month payoff schedule.

3

We add the extras

Property tax, insurance, PMI and HOA are folded in for your true monthly cost — and any extra payment shortens the loan.

What goes into your monthly payment

Principal & interest (P&I)

The core of the mortgage, fixed for the life of a fixed-rate loan. Computed as P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate (annual ÷ 12 ÷ 100) and n the number of months (years × 12).

Taxes, insurance, PMI & HOA

Property tax and home insurance are annual figures split across 12 months. PMI applies only while your down payment is under 20%. HOA dues are a flat monthly amount. Together with P&I, these make up your PITI.

Results are estimates. Actual taxes, insurance and PMI vary by location and lender, and escrow amounts can change year to year. Amounts are shown in generic dollars ($) and rounded to the nearest dollar — confirm exact figures with your lender before committing.

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Private by design. Every number stays on your device. Nothing you type is uploaded, stored or shared.

Frequently Asked Questions

What does PITI mean in a mortgage payment? ▼
PITI stands for Principal, Interest, Taxes and Insurance — the four parts of a typical monthly housing payment. This calculator adds two more common costs many buyers face: PMI (private mortgage insurance, charged when your down payment is under 20%) and HOA dues. The principal and interest are fixed for the life of a fixed-rate loan, while taxes, insurance, PMI and HOA can change over time.
How is the monthly principal and interest calculated? ▼
It uses the standard amortization formula M = P · r · (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount (home price minus down payment), r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments (loan term in years × 12). Early payments are mostly interest; over time more of each payment goes toward the principal.
When do I have to pay PMI, and how do I avoid it? ▼
Lenders usually require private mortgage insurance when your down payment is less than 20% of the home price, because the loan is riskier for them. You can avoid it by putting down 20% or more. On many loans PMI can also be cancelled later once you have built enough equity. This tool automatically drops PMI from the payment once your down payment reaches 20%.
How much does making an extra monthly payment save? ▼
Every extra dollar goes straight to the principal, so you stop paying interest on it for the rest of the loan. Enter an amount in the extra monthly payment field and the calculator re-runs the amortization to show exactly how much interest you save and how many years and months sooner you become mortgage-free. Extra payments made early in the loan save the most.
Should I choose a shorter or longer loan term? ▼
A shorter term (e.g. 15 years) has higher monthly payments but far less total interest, while a longer term (e.g. 30 years) lowers the monthly payment but costs much more over the life of the loan. Try both terms in the calculator and compare the monthly payment against the total interest to find the balance that fits your budget.
Does this calculator store or send my numbers anywhere? ▼
No. Every calculation runs entirely inside your browser using JavaScript. Nothing you type is uploaded, saved on a server, or shared — close the tab and it is gone.

Free to use · works entirely in your browser · no account needed.

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