Mortgage Payment Calculator
Estimate your monthly mortgage payments including taxes & insurance
The purchase price of the home
Amount or percentage you'll pay upfront
Estimated yearly tax
Estimated yearly insurance
Mortgage Breakdown
Loan Amount: $0 | Down Payment: $0 (0%)
How to Use This Mortgage Calculator
This calculator helps you understand the true cost of homeownership by showing your complete monthly mortgage payment including principal, interest, taxes, and insurance (PITI).
Step-by-Step Guide:
- Enter Home Price - The purchase price of the property
- Input Down Payment - Enter dollar amount or percentage
- Select Loan Term - Choose between mortgage terms
- Enter Interest Rate - Current mortgage rate
- Add Property Taxes - Estimated yearly property tax
- Include Home Insurance - Estimated annual homeowners insurance
- Click Calculate - Get detailed payment breakdown
Tip: Try different down payment amounts to see how it affects your monthly payment and PMI requirements!
Mortgage Calculator FAQs
What's included in the monthly payment?
This calculator shows PITI - Principal, Interest, Taxes, and Insurance. Some lenders may include additional fees like HOA or flood insurance.
When is PMI required?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price.
How accurate are these estimates?
This provides good estimates, but actual rates and payments depend on your credit score, lender fees, and exact property location.
Should I choose a 15-year or 30-year mortgage?
15-year loans have higher payments but save thousands in interest. 30-year loans offer lower payments but cost more long-term.
How do property taxes affect my payment?
Taxes are typically included in monthly payments and held in escrow. Higher tax areas significantly increase monthly costs.