Mortgage calculator
Work out the real monthly cost of a home — not just principal and interest, but property tax, insurance, PMI and HOA fees rolled into one figure. Adjust the down payment and rate to see what fits your budget before you make an offer.
Home & loan
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How to use it
Enter the price and deposit
Type the home price and your down payment either as a dollar figure or a percentage — the two boxes stay in sync automatically as you adjust either one.
Add the running costs
Fill in your rate, term, annual property tax and insurance. Include HOA dues and a PMI rate if your down payment is under 20%.
See the whole payment
The result breaks your monthly figure into each part so you know precisely where the money goes, plus the total interest across the life of the loan.
What goes into a mortgage payment
More than the loan
Lenders bundle four things into most monthly payments — principal, interest, taxes and insurance, often shortened to PITI. Budgeting on principal and interest alone can understate your true housing cost by hundreds of dollars.
Why the down payment matters
A bigger down payment shrinks the loan, lowers your monthly interest and can remove private mortgage insurance entirely once you reach 20% equity. The calculator adds PMI automatically below that threshold.
Nothing is uploaded
Your price, income assumptions and loan figures never leave the page. There's no account, no tracking and no server — just an instant estimate you can trust to stay private.
Reading your estimate
Your monthly mortgage payment is built from several moving parts. The principal-and-interest portion is a fixed amount set by the loan size, the interest rate and the term. Layered on top are one-twelfth of your annual property tax, one-twelfth of your homeowner's insurance, any monthly HOA dues, and — if your equity is below twenty percent — private mortgage insurance. Adding them together gives the number a lender will actually collect each month.
Principal and interest
This is calculated with the standard amortization formula from the loan amount (home price minus down payment), the monthly interest rate, and the number of monthly payments. In the early years most of it is interest; the balance in the amortization table below shows how that shifts over time as equity builds.
Taxes and insurance
Property tax and homeowner's insurance are usually collected monthly and held in an escrow account, then paid on your behalf when the bills come due. Rates vary widely by location and property, so use figures for the specific home you're considering rather than a national average.
Private mortgage insurance
If you put down less than twenty percent, most lenders require PMI to protect against default. It's typically between 0.3% and 1.5% of the loan per year. Once your equity reaches twenty percent you can usually request its removal, which is why increasing your down payment can lower the payment in two ways at once.
Frequently asked questions
What does PITI mean?
PITI stands for principal, interest, taxes and insurance — the four components most lenders bundle into a single monthly payment. This calculator shows each one separately and adds HOA dues and PMI where they apply.
When do I have to pay PMI?
Private mortgage insurance is normally required when your down payment is below 20% of the home price. Enter a PMI rate and the calculator includes it until your equity would reach 20%. At or above a 20% deposit, set the rate to zero.
Are property taxes the same everywhere?
No. Property tax is set locally and can range from well under 1% to over 2% of a home's value per year. Use the actual figure for the property you're looking at, which your agent or the listing usually provides.
Should I choose a 15 or 30-year term?
A 15-year loan has higher monthly payments but far less total interest and builds equity faster. A 30-year loan keeps payments lower and more flexible. Try both terms here to compare the monthly cost against the lifetime interest.
Does this include closing costs?
No. Closing costs are one-time fees paid at purchase, not part of the monthly payment, so they aren't shown here. Budget for them separately, typically 2% to 5% of the loan amount.
Is my data kept private?
Completely. Every calculation runs in your browser. Nothing you enter is sent anywhere, stored or linked to you, and there is no account to create.