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US Mortgage Calculator
Get your full monthly payment breakdown - taxes, insurance, PMI & HOA - in seconds.
Your Loan Details
Mortgage Details
Adjust the fields below for an instant estimate.
Estimated Monthly Payment
$0
per month (PITI)
- Principal & Interest -
- Property Tax -
- Homeowners Insurance -
Loan Amount
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Total Interest Paid
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Total Cost of Loan
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Learn
How to Use This Mortgage Calculator
Enter your home price, down payment, interest rate, and loan term to get an instant estimate. For a complete monthly payment (PITI), also enter your annual property taxes and homeowners insurance.
What's Included in the Monthly Payment?
- Principal & Interest (P&I) - The base mortgage payment calculated using standard amortization.
- Property Tax - Typically 0.5%–2.5% of home value annually, split into 12 monthly escrow installments.
- Homeowners Insurance - Usually $800–$2,000/year depending on location and coverage level.
- PMI - Required when your down payment is under 20%. Calculated at ~0.75% annually on the loan principal.
- HOA Fee - Applicable for condos, townhomes, and planned communities.
The Mortgage Formula
Monthly principal & interest is calculated using the standard amortization formula:
M = P × [r(1+r)^n] / [(1+r)^n − 1]
M = Monthly P&I payment
P = Loan principal (home price − down payment)
r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
n = Total payments (loan term in years × 12)
Understanding Your Amortization Schedule
In the early years, most of each payment goes toward interest. As the principal balance drops, more goes toward principal. The amortization table shows every payment breakdown for the life of your loan - scroll down after calculating to view it.