Mortgage Calculator

Your true monthly house payment — principal & interest, property taxes, insurance and PMI.

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Results update instantly as you type. Down payment is 20.0% of the home price.

Total monthly payment
$0
Principal & interest
$0
Loan amount
$0
Property tax (monthly)
$0
Insurance (monthly)
$0
PMI (monthly)
$0
Total interest over the loan
$0

📅 Amortization Summary (by year)

YearPrincipal paidInterest paidBalance left

🏠 How to Use This Mortgage Calculator

  1. 1.Start with a real home price. Use a listing price from your area — the payment changes fast, so test prices $25,000 above and below your target.
  2. 2.Watch the down payment. Putting down 20% or more removes PMI completely — on many loans that saves $100+ every month.
  3. 3.Compare terms. A 15-year loan has a higher monthly payment but usually a lower rate and far less total interest than a 30-year loan.
  4. 4.Don't forget taxes and insurance. Lenders collect them monthly in escrow — on many homes they add $400–$700 a month on top of principal & interest.
  5. 5.Check the 28% rule. If the total monthly payment is under 28% of your gross monthly income, the home is usually considered affordable.

❓ FAQ

What is included in a monthly mortgage payment?

Most US mortgage payments include principal, interest, property taxes and homeowners insurance (PITI). With less than 20% down, PMI is usually added on top.

When do I have to pay PMI?

On a conventional loan, PMI is typically required when your down payment is under 20%. It generally drops off once your balance reaches 80% of the home's value — the calculator shows when that happens.

How much house can I afford?

A common guideline is the 28/36 rule: housing costs under 28% of gross monthly income, all debts under 36%. Try different prices above until the total payment fits comfortably.

Is this mortgage calculator free?

Yes — 100% free, no sign-up, no limits. Everything runs in your browser; your numbers are never uploaded or saved.