Mortgage Calculator
Free mortgage calculator. Estimate your monthly mortgage payment including principal, interest, property tax, and home insurance from your home price, down payment, and rate.
What goes into your monthly mortgage payment
A mortgage payment is more than principal and interest. Lenders usually bundle in property tax and homeowners insurance — together these four parts are called PITI. This calculator estimates all of them so you see the real monthly cost of a home, not just the loan.
How much house can you afford?
A common rule of thumb is to keep your total housing payment under about 28% of your gross monthly income. A larger down payment lowers both your loan amount and your monthly payment, and a down payment of 20% or more usually lets you avoid private mortgage insurance (PMI).
Frequently asked questions
What does PITI mean?⌄
PITI stands for Principal, Interest, Taxes, and Insurance — the four parts that make up a typical monthly mortgage payment. This calculator estimates all four.
How much should my mortgage payment be?⌄
A common guideline is to keep your total housing payment under about 28% of your gross monthly income, though your full budget and other debts matter too.
What is PMI and how do I avoid it?⌄
Private mortgage insurance is usually required when your down payment is under 20% of the home price. Putting down 20% or more typically lets you avoid it.
Are property taxes and insurance included?⌄
Yes — this calculator adds estimated annual property tax and home insurance to the monthly figure so you see the real cost, not just principal and interest.
Have another question? Get in touch.