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Mortgage Calculator

Estimate your full monthly mortgage payment with a complete PITI breakdown — principal, interest, property tax and home insurance — free and instantly in your browser.

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Total monthly payment (PITI)
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About the Mortgage Calculator

A mortgage calculator works out your monthly home-loan payment from the home price, down payment, interest rate and term. This tool shows the full PITI payment — Principal, Interest, Taxes and Insurance (plus optional HOA) — so you see your true monthly cost, not just principal and interest. It also reports your loan amount, down-payment percentage and total interest over the life of the loan.

How Mortgage Calculator works

The principal & interest part uses the standard amortization formula:

P&I = L · i ÷ ( 1 − (1 + i)−n ), where L = loan amount (price − down payment), i = monthly rate, n = months.

Then the monthly payment adds taxes and insurance:

PITI = P&I + (annual property tax ÷ 12) + (annual insurance ÷ 12) + HOA

Example: a 0,000 home, ,000 down, 6.5% for 30 years → loan 0,000, P&I ≈ ,770/mo; with ,600/yr tax and ,200/yr insurance the total is ≈ ,170/month.

Common uses

  • Estimate your true monthly mortgage payment (PITI), not just principal and interest
  • Compare homes, down payments, rates and loan terms
  • See your loan amount and down-payment percentage
  • Check the total interest you will pay over the life of the loan

Frequently asked questions

What does PITI mean?
PITI stands for Principal, Interest, Taxes and Insurance — the four parts of a typical monthly mortgage payment. Lenders use it to judge affordability.
How is the monthly mortgage payment calculated?
Principal and interest use the amortization formula P&I = L·i ÷ (1 − (1+i)^−n). Monthly property tax (annual ÷ 12), insurance (annual ÷ 12) and any HOA fee are added on top.
Does it include PMI?
Not separately — if you put down less than 20%, add your monthly PMI estimate to the result. Property tax and insurance are included.
How much should my down payment be?
20% avoids PMI and lowers your payment, but many loans allow less. The calculator shows your down-payment percentage so you can compare.