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Loans — Home
Mortgage Calculator
Enter the price, down payment, rate and term to get your full monthly payment — principal, interest, taxes and insurance.
Monthly payment
—
Principal, interest, taxes & insurance.
| Principal & interest | — |
|---|---|
| Property tax | — |
| Home insurance | — |
| PMI | — |
| HOA | — |
| Loan amount | — |
| Total interest (life) | — |
Show our math
Enter your figures above to see the step-by-step working.
Educational estimate — not a loan offerEverything computed client-side — nothing leaves this page
How the Mortgage Calculator Works
Your monthly mortgage payment has four parts, often shortened to PITI: principal, interest, taxes and insurance. This calculator works out the principal-and-interest portion from your loan amount, rate and term using the standard amortization formula, then adds monthly property tax, homeowners insurance, PMI and any HOA dues to give the full payment.
The loan amount is the price minus your down payment. If you put down less than 20%, lenders usually charge private mortgage insurance (PMI) until you build enough equity, so the calculator includes it in that case. Property tax is entered as a yearly percentage of the home price, and insurance as a yearly dollar amount — both are divided by twelve for the monthly figure.
P&I = L × i × (1+i)n ÷ ((1+i)n − 1)
Frequently Asked Questions
What is included in the monthly payment?
Principal and interest on the loan, plus monthly property tax, homeowners insurance, PMI (if your down payment is under 20%) and any HOA dues. Together these are known as PITI.
How much should my down payment be?
Twenty percent is the classic target because it lets you avoid PMI, but many loans allow far less. A larger down payment lowers both the loan amount and the monthly payment, and removes PMI.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is largest at the start, so early payments are mostly interest. As the balance falls, more of each payment goes to principal — see our amortization calculator for the full schedule.
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