Mortgage Calculator
Calculate monthly mortgage payments including principal, interest, taxes, and insurance. Plan your home purchase with confidence.
Calculate your monthly mortgage payment including principal, interest, property taxes, and insurance (PITI). Our mortgage calculator helps you understand the true cost of homeownership, compare different mortgage options, and plan your budget before buying a… Enter your figures above and get results on the spot. The tool runs locally so we never see your numbers.
About This Calculator
Calculate your monthly mortgage payment including principal, interest, property taxes, and insurance (PITI). Our mortgage calculator helps you understand the true cost of homeownership, compare different mortgage options, and plan your budget before buying a home. Perfect for first-time homebuyers and those refinancing their mortgage.
How It Works
The mortgage calculator computes your monthly payment using the standard mortgage formula, then adds property taxes and insurance. It breaks down your payment into principal, interest, taxes, and insurance components. You can see how different down payments, interest rates, and loan terms affect your monthly payment and total cost.
How to Use
- Enter your values in the calculator fields above
- Click the calculate button or let the calculator auto-update
- Review your results instantly
- Adjust values as needed to see different scenarios
Frequently Asked Questions
What is included in a mortgage payment?
A typical mortgage payment (PITI) includes: Principal (loan amount), Interest, Property Taxes, and Insurance (homeowners insurance). Some mortgages also include PMI (Private Mortgage Insurance) if your down payment is less than 20%.
How much should I put down on a house?
While 20% down payment is traditional to avoid PMI, many lenders accept lower down payments (3-10%). A larger down payment reduces your monthly payment and total interest, but use our calculator to see what works for your situation.
What is PMI?
PMI (Private Mortgage Insurance) is required when your down payment is less than 20% of the home value. It protects the lender if you default on the loan and typically costs 0.5-1% of the loan amount annually.
Why Use Our Free Mortgage Calculator Online?
Our Mortgage Calculator is free to use and requires no sign-up. You can try different loan amounts, rates, or terms and see results immediately. The maths is done on your device, so figures like loan or tax data are never sent to our servers. Bookmark this page or browse our finance tools for more planning helpers.