Mortgage Calculator (PITI)
Estimate your full monthly mortgage payment: principal and interest plus property tax, home insurance, PMI and HOA fees, with an amortization schedule.
Results
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | 3,576.72 | 20,694.69 | 316,423.28 |
| 2 | 3,816.26 | 20,455.15 | 312,607.02 |
| 3 | 4,071.84 | 20,199.57 | 308,535.17 |
| 4 | 4,344.54 | 19,926.87 | 304,190.63 |
| 5 | 4,635.50 | 19,635.91 | 299,555.13 |
| 6 | 4,945.95 | 19,325.46 | 294,609.18 |
| 7 | 5,277.19 | 18,994.22 | 289,331.98 |
| 8 | 5,630.62 | 18,640.80 | 283,701.37 |
| 9 | 6,007.71 | 18,263.70 | 277,693.66 |
| 10 | 6,410.06 | 17,861.36 | 271,283.60 |
| 11 | 6,839.35 | 17,432.06 | 264,444.26 |
| 12 | 7,297.39 | 16,974.02 | 257,146.86 |
| 13 | 7,786.11 | 16,485.30 | 249,360.75 |
| 14 | 8,307.56 | 15,963.85 | 241,053.19 |
| 15 | 8,863.94 | 15,407.48 | 232,189.25 |
| 16 | 9,457.57 | 14,813.84 | 222,731.68 |
| 17 | 10,090.96 | 14,180.45 | 212,640.72 |
| 18 | 10,766.77 | 13,504.64 | 201,873.95 |
| 19 | 11,487.84 | 12,783.57 | 190,386.11 |
| 20 | 12,257.20 | 12,014.21 | 178,128.90 |
| 21 | 13,078.09 | 11,193.32 | 165,050.81 |
| 22 | 13,953.96 | 10,317.46 | 151,096.86 |
| 23 | 14,888.48 | 9,382.93 | 136,208.38 |
| 24 | 15,885.59 | 8,385.83 | 120,322.79 |
| 25 | 16,949.47 | 7,321.94 | 103,373.32 |
| 26 | 18,084.61 | 6,186.80 | 85,288.71 |
| 27 | 19,295.77 | 4,975.64 | 65,992.94 |
| 28 | 20,588.05 | 3,683.37 | 45,404.89 |
| 29 | 21,966.86 | 2,304.55 | 23,438.03 |
| 30 | 23,438.03 | 833.39 | 0.00 |
- Fixed-rate loan with monthly payments: M = P·r / (1 − (1 + r)^−n), r = annual rate ÷ 12. 0% interest gives P ÷ n.
- Property tax is a % of the home price per year. PMI is a % of the loan per year, charged while the balance is above 80% of the price.
What is Mortgage Calculator?
Estimates the total monthly cost of a fixed-rate mortgage: principal and interest, property tax, homeowners insurance, private mortgage insurance (PMI) and HOA fees. It also shows the loan-to-value ratio, how long PMI is charged, total interest and an amortization schedule.
How to use Mortgage Calculator
- Enter the Home price and the Down payment as a percentage or an amount.
- Enter the Annual interest rate and Loan term in years.
- Optionally enter property tax (% of price per year), insurance per year, PMI rate and monthly HOA fees.
- Read the total monthly payment and the breakdown; switch the schedule between yearly and monthly.
Example
Price 400,000, 20% down, 6.5%, 30 years, tax 1.2%, insurance 1,200/yr
Total monthly 2,522.62 (P&I 2,022.62 + tax 400.00 + insurance 100.00), loan 320,000.00
When to use Mortgage Calculator
Use it to budget for a home purchase or compare down-payment options. Taxes, insurance and PMI rates vary by location and lender, so treat the result as an estimate; it does not cover adjustable-rate mortgages, points or closing costs (see the Down Payment Calculator for those).
How Mortgage Calculator works
Principal and interest use the annuity formula M = P·r / (1 − (1 + r)^−n) with r = rate ÷ 12. Property tax per month = price × tax rate ÷ 12, insurance = yearly premium ÷ 12. PMI applies only when the down payment is under 20%: it is loan × PMI rate ÷ 12 and is charged until the scheduled balance falls to 80% of the price, so the PMI column in the schedule stops at that point. Total cost adds the down payment, all P&I payments, PMI, tax, insurance and HOA over the term.
Common Use Cases
- Estimating an affordable home price
- Seeing the effect of a 10% vs 20% down payment
- Checking how long PMI will be charged
- Comparing 15- and 30-year terms
FAQs
What is PITI?
Principal, Interest, Taxes and Insurance – the main parts of a monthly housing payment. This tool also adds PMI and HOA fees.
When does PMI stop?
The tool removes PMI once the scheduled balance reaches 80% of the original price. Lenders may also cancel it on request or automatically at 78%.
Are closing costs included?
No. Closing costs are paid upfront; the Down Payment Calculator estimates them.