Mortgage Calculator
Estimate your monthly mortgage payment—Principal & Interest plus Property Taxes, Homeowners Insurance, optional PMI and HOA. We also show total interest over the life of the loan (fixed-rate).
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Enter your details and click Calculate to see the breakdown.
How this calculator works
We compute Principal & Interest (PI) for a fixed-rate, fully amortizing mortgage with the standard formula c = r · P / (1 − (1 + r)−n), where P is loan amount,r is monthly rate (APR/12), and n is total months. If the interest rate is 0, we fall back to P / n (zero-interest case).
The monthly payment many lenders quote includes taxes and insurance (often called “PITI”) and may also include private mortgage insurance (PMI) in escrow. This tool adds property taxes, homeowners insurance, optional PMI, and HOA to PI to show a more complete monthly estimate.
PMI is typically required when the down payment is under 20% of the home’s value. We model PMI as an annual percent of the loan amount spread over 12 months; actual premiums vary by lender and borrower profile.
This tool is for education only and does not constitute financial advice. For exact terms, consult your lender.