Mortgage Calculator
Estimate a mortgage payment including taxes, insurance and PMI.
Frequently asked questions
What does the mortgage calculator include?
It estimates your monthly payment from the home price and down payment, covering principal and interest plus optional property tax and homeowners insurance.
How is the monthly mortgage payment calculated?
The principal and interest portion uses the standard amortization formula based on the loan amount, the annual rate and the term in years.
What is PITI?
PITI stands for principal, interest, taxes and insurance, the four parts that often make up a full monthly mortgage payment.
How does the down payment affect my payment?
A larger down payment lowers the loan amount, which reduces both the monthly principal and interest and the total interest paid over the loan.
Does this include property tax and insurance?
Yes, if you enter them. You can add annual property tax and insurance and the tool spreads them across your monthly payment.
Does it include PMI or HOA fees?
No. It does not add private mortgage insurance or homeowners association dues, so your real payment could be somewhat higher.
How much house can I afford?
A common guideline keeps housing costs under about 28 percent of gross monthly income, but the tool only estimates the payment and is not financial advice.
Is my financial data uploaded?
No. Every calculation happens in your browser and nothing you type is stored or sent to a server.