True PITI, not just P&I
Property tax, home insurance, PMI and HOA dues are calculated into the headline figure instead of hidden behind an extra click.
Free · No sign-up · Runs in your browser
Mortgage Calculator: Your Real Monthly Payment
Most calculators show you principal and interest and stop there. This one adds property tax, home insurance, PMI and HOA fees, then shows the full amortization schedule and exactly what an extra payment each month would save you.
- Full PITI breakdown
- Year-by-year amortization
- Extra payment savings
- Automatic PMI drop-off
Loan details
$
$
20% down · loan amount $336,000
%
years
Quick term presets
$
Per year
$
Per year
$
Per month
%
Charged yearly until 20% equity
$
Optional. Applied straight to principal.
Estimated monthly payment
$2,704
Principal & interest $2,124 · escrow & fees $580
78% P&I
Principal & interest$2,124
Property tax$420
Home insurance$150
PMI$0
HOA$0
- Loan amount
- $336,000
- Total interest paid
- $428,633
- Payoff date
- Aug 2056
- Total of all payments
- $973,392
Estimates only. Your lender’s figures will differ slightly because of closing costs, escrow timing and rounding.
Amortization schedule
How much of each year goes to interest versus building equity.
| Year | Principal | Interest | Balance |
|---|
Why this one
A mortgage calculator that shows the whole payment
The number that ruins budgets is not the loan payment. It is everything bolted onto it. This tool puts all of it on one screen.
PMI that actually stops
Most tools charge PMI for the entire loan. Ours drops it the month your balance reaches 80% of the home price, which is how it really works.
Full amortization, free
Yearly and month-by-month schedules with principal, interest and remaining balance. No email gate, no paywall, no account.
Extra payment modelling
Add any amount to your monthly payment and instantly see the interest saved and how many years come off the loan.
Built mobile-first
Big tap targets, numeric keypads on every field and results that stay readable on a phone. No pinch-zooming through a desktop table.
Nothing leaves your device
Every calculation runs in your browser. No figures are uploaded, stored or passed to a lender who wants to call you.
How to use it
Four inputs and you have a real number
Defaults are loaded so you can see a working example immediately. Change any field and the results update as you type.
Enter the home price
Use the listing price, or your offer if you have made one. This drives the loan amount and the PMI cut-off point.
Set your down payment
Type a dollar figure or drag the slider by percentage. Below 20% the calculator automatically switches PMI on.
Add rate, term and escrow
Put in your quoted rate and term, then your local property tax and insurance estimates. HOA dues only if the property has them.
Read the breakdown
Check the payment ring, the total interest figure and the payoff date. Then try an extra monthly payment and watch both drop.
Benefits
What you get out of five minutes here
A mortgage is the largest recurring cost most households ever take on. Small assumptions compound into six-figure differences.
A budget number you can trust
Knowing the full payment, not the teaser figure, stops you from buying at the top of a range you cannot comfortably carry.
Rate shopping with real stakes
Move the rate a quarter point and watch the lifetime interest change. It makes the value of one more lender quote obvious.
A clear case for a bigger deposit
See exactly where PMI disappears and how much reaching 20% down would save over the life of the loan.
Proof that extra payments work
An extra sum each month can remove years from a 30-year loan. The figure is usually smaller than people expect.
The maths
How a monthly mortgage payment is calculated
Every fixed-rate mortgage payment comes from one standard amortization formula. Everything else is added on top of it.
M = P × [ r(1 + r)^n ] ÷ [ (1 + r)^n − 1 ]
M = monthly principal and interest · P = loan amount · r = annual rate ÷ 12 · n = total number of monthly payments
What sits inside PITI
Lenders talk about PITI because the loan payment alone is rarely what leaves your account. Four components make up the standard figure.
- Principal — the slice that reduces what you owe and builds equity.
- Interest — the lender’s charge, heavily front-loaded in the early years.
- Taxes — annual property tax, usually collected monthly into an escrow account.
- Insurance — homeowners cover, plus PMI while your equity sits below 20%.
HOA or condo fees are not part of PITI and are not escrowed, but they are a genuine monthly housing cost, so this calculator includes them in the headline number.
Why early payments feel like they do nothing
Interest is charged on the outstanding balance, which is at its largest on day one. On a 30-year loan at typical rates, the first year often sends roughly three quarters of each payment to interest. The crossover point where principal overtakes interest usually arrives somewhere between year 15 and year 20. The amortization table above shows exactly when it happens for your figures.
15-year versus 30-year, side by side
A shorter term raises the monthly payment but slashes lifetime interest. This example uses a $336,000 loan at 6.5%.
| Term | Monthly P&I | Total interest |
|---|---|---|
| 30 years | $2,124 | $428,600 |
| 20 years | $2,505 | $265,100 |
| 15 years | $2,927 | $190,800 |
| 10 years | $3,815 | $121,800 |
Where an extra payment beats a shorter term
Choosing a 15-year term locks you into the higher payment. Taking the 30-year and voluntarily overpaying gets you most of the same interest saving while keeping the option to drop back to the minimum in a bad month. Enter an extra amount in the calculator to see the trade clearly for your own numbers.
FAQ
Mortgage calculator questions, answered
How much house can I afford on my salary?
A common lender guideline is the 28/36 rule: housing costs stay under 28% of gross monthly income, and all debt payments stay under 36%. On a $90,000 salary that is roughly $2,100 a month for the full housing payment.
Work backwards with this calculator. Adjust the home price until the headline figure lands under your own comfortable ceiling, then confirm it against your actual take-home pay rather than gross.
Does this mortgage calculator include taxes, insurance and PMI?
Yes. Property tax, homeowners insurance, PMI and HOA dues are all built into the monthly figure at the top. PMI is applied only while your loan balance is above 80% of the home price and is removed automatically after that, which is how lenders actually handle it.
What is a good down payment on a house?
Twenty percent is the threshold that removes PMI on a conventional loan, which is why it gets quoted so often. It is not a requirement. Conventional loans can start near 3%, and several government-backed programmes go lower.
Drag the down payment slider to compare. You will see the monthly payment fall, PMI vanish at 20%, and total interest drop as the loan shrinks.
How much does one extra payment a year save?
On a typical 30-year loan, one additional monthly payment each year, or roughly an extra 8% added to each month’s payment, tends to remove four to six years from the term and save a substantial share of the lifetime interest.
Enter your figure in the extra payment field to see the exact saving and the new payoff date for your loan.
Should I choose a 15-year or 30-year mortgage?
A 15-year term carries a noticeably higher monthly payment but can cut lifetime interest by more than half, and usually comes with a slightly lower rate. A 30-year term keeps the required payment low and your monthly cash flow flexible.
If the 15-year payment would leave no room for saving or emergencies, taking the 30-year and overpaying voluntarily is often the safer route to a similar outcome.
What is PMI and when does it stop?
Private mortgage insurance protects the lender, not you, and is normally required when your deposit is under 20%. It typically costs between 0.3% and 1.5% of the loan each year.
You can usually request cancellation once your balance reaches 80% of the original value, and lenders are generally required to drop it automatically at 78%. This calculator models the 80% point.
Why is my lender’s quote different from this estimate?
Lender quotes fold in closing costs, points, origination fees, escrow cushions and the precise day your loan funds. This tool models the underlying loan maths, so expect small differences rather than exact agreement. Use it to compare scenarios, and use a Loan Estimate to compare lenders.
Is this mortgage calculator free, and is my data stored?
It is completely free with no sign-up. Every calculation runs inside your browser, so nothing you type is uploaded, saved or shared with a lender.
Run your numbers before a lender runs them for you
Walking into a mortgage conversation already knowing your full monthly payment, your total interest and what an extra payment would buy you changes the conversation entirely. Scroll back up, put in your real figures, and see where you stand.
This calculator is provided for general information and educational use. It is not financial advice, a loan offer, or a guarantee of any rate or term. Figures are estimates based on the values you enter. Speak to a qualified mortgage professional before making a borrowing decision.