Estimate monthly home loan payments including principal, interest, taxes and insurance.
The Mortgage Calculator estimates the full monthly cost of owning a home, including principal, interest, property tax, and homeowner's insurance (PITI). Use it before submitting a home-loan application to see whether the payment fits your budget and how the loan term and down payment change what you pay each month.
Monthly principal and interest use the standard amortizing-loan formula. Property tax and insurance are added as monthly averages of their annual rates against the home price.
M = P × r × (1 + r)^n / ((1 + r)^n − 1)
P = loan amount, r = monthly rate (APR/12), n = term in monthsA $400,000 home with 20% down ($80,000), a 30-year loan at 6.75%, 1.2% property tax and 0.5% insurance produces a $320,000 loan, a principal-and-interest payment near $2,076, and a total PITI close to $2,643 per month.
Most mortgage payments include principal, interest, property tax, and homeowner's insurance. Loans with less than 20% down usually also include mortgage insurance (PMI or MIP).
20% down avoids PMI on conventional loans and gives the lowest monthly payment. FHA loans allow as little as 3.5% and VA loans allow 0% for eligible borrowers.
No. If your property has HOA dues, add them separately to the PITI result to see your true monthly housing cost.