Mortgage Calculator
Estimate monthly principal and interest, taxes, insurance, PMI, HOA, total interest, and total paid with a simple fixed-rate mortgage calculator. Optional yearly amortization and shareable URLs.
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How to calculate a mortgage payment
Principal and interest use the standard fixed-rate formula with your loan amount, monthly interest rate, and number of payments.
If the interest rate is 0%, principal and interest split the loan evenly across all payments.
Taxes and insurance divide the annual figures by 12. PMI follows the mode you select unless LTV is 80% or below.
What is included in total monthly mortgage cost
The headline total combines principal and interest with monthly tax, insurance, PMI (when applicable), and HOA.
It does not include escrow cushions, mortgage insurance other than what you model as PMI, or lender-specific fees.
What is included in total monthly mortgage cost (PITI)?
PITI stands for Principal, Interest, Taxes, and Insurance—the core parts of many monthly mortgage payments.
Principal and interest pay down your loan using a standard fixed-rate schedule (or equal principal portions when the rate is 0%).
Property tax and homeowners insurance are shown as monthly portions of the annual amounts you enter.
This tool adds optional PMI when loan-to-value is above 80%, plus any HOA fee you enter, to approximate your full monthly housing payment.
How PMI affects your payment
Private mortgage insurance (PMI) protects the lender when your down payment is small. It is common when you borrow more than 80% of the home price.
Here you can model PMI either as an annual percentage of the loan amount divided into monthly payments, or as a flat monthly dollar amount.
When your loan-to-value is 80% or lower, PMI is set to zero so the estimate reflects a typical conventional scenario.
How to use this mortgage calculator
- Enter your home price, down payment (as a percent or dollar amount), interest rate, and loan term.
- Add annual property tax and homeowners insurance; optional HOA is included in the monthly total.
- Choose PMI as an annual percent of the loan or a fixed monthly amount. PMI is omitted when loan-to-value is 80% or lower.
- Review the summary for principal and interest, taxes, insurance, PMI, HOA, and total monthly housing cost. Expand amortization for a yearly payoff view.
- Share your scenario using the URL in the address bar—inputs sync to the query string automatically.
Mortgage calculator FAQ
How is my monthly principal and interest calculated?
We use the standard fixed-rate amortization payment on the loan amount, using your APR and loan term in months. At 0% interest, the loan is divided evenly across payments.
Why is PMI $0 when I put 20% down?
When loan-to-value is 80% or lower (typically 20% down on a purchase), PMI is usually not required on many conventional loans, so the calculator sets PMI to zero for that case.
Are property taxes and insurance included in the monthly total?
Yes. Annual property tax and homeowners insurance are converted to monthly amounts and added to principal, interest, PMI (when applicable), and any HOA you enter.
Does this include closing costs?
No. Closing costs, maintenance, utilities, and lender-specific fees are excluded. Numbers are estimates for comparison only.
Do I need an account or external service?
No. All math runs in your browser. The URL saves your inputs for sharing; nothing is stored on a server.