Mortgage Calculator

See your true monthly payment — full PITI with property taxes, home insurance, PMI, and HOA dues. Not just principal and interest.

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Typical range 0.3%–1.5% of the loan per year. Applied only when your down payment is under 20%.
Estimated monthly payment
$0.00
Principal & interest
$0.00
Property tax
$0.00
Home insurance
$0.00
HOA dues
$0.00
Loan amount
$0
Down payment
0%
Total interest (full term)
$0
Total of payments (P&I)
$0

Estimate only — not a loan offer or financial advice.

How this mortgage calculator works

Most mortgage calculators stop at principal and interest — the part of your payment that goes to the lender. That number alone can understate your real monthly cost by hundreds of dollars. This calculator shows full PITI: Principal, Interest, Taxes, and Insurance, plus PMI and HOA dues where they apply, so the figure you see is closer to what actually leaves your bank account each month.

Principal and interest are calculated from your loan amount, interest rate, and term using the standard amortization formula. The loan amount is your home price minus your down payment. We then add your monthly share of property taxes and home insurance, monthly HOA dues, and — if your down payment is below 20% — private mortgage insurance. The result is your estimated total monthly payment.

Key terms explained

Principal & interest (P&I). The core loan payment. Early in the loan, most of it is interest; over time, more goes toward principal.

Property tax. Set by your county or municipality, usually as a percentage of assessed value. National effective rates commonly fall between 0.3% and 2.2% of home value per year, so a local estimate matters. You can enter a dollar figure or a percentage of the price.

Home insurance. Homeowners insurance protects the structure and your belongings. Lenders require it, and the annual premium is spread across your monthly payment.

PMI (private mortgage insurance). Required on most conventional loans when you put down less than 20%. It protects the lender, not you, and typically costs 0.3%–1.5% of the loan per year. Once you reach 20% equity, you can usually request its removal.

HOA dues. If your home is in a homeowners association, monthly dues are a real recurring cost that lenders may factor into affordability — so we include them here.

2026 mortgage reference

Mortgage rates move daily and vary by credit score, loan type, and lender. Through 2026, conventional 30-year fixed rates have generally hovered in the 6%–7% range, with 15-year fixed loans running below that. A 15-year term carries a higher monthly payment but dramatically less total interest — try switching the term in the calculator to see the difference on your numbers.

A practical rule many buyers use is to keep total PITI at or below about 28% of gross monthly income. To check that against your real take-home pay, pair this with our paycheck calculator. Always confirm current rates and your specific property-tax rate with your lender and county before making decisions.

Frequently asked questions

What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four parts of a typical monthly mortgage payment. Many calculators only show principal and interest, which understates your true cost.
When do I have to pay PMI?
Private mortgage insurance is usually required on conventional loans when your down payment is less than 20% of the home price. It typically falls off once you reach 20% equity.
How is my monthly mortgage payment calculated?
Principal and interest are calculated from the loan amount, interest rate, and term using a standard amortization formula. Property tax, home insurance, PMI, and HOA dues are then added to reach your full monthly payment.
Does a larger down payment lower my payment?
Yes. A larger down payment reduces the loan amount, lowers monthly principal and interest, and — once you reach 20% down — removes PMI entirely.
Are property taxes included in this calculator?
Yes. You can enter property tax as an annual dollar amount or as a percentage of the home price, and it is included in your monthly PITI estimate.

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