Mortgage Calculator
Estimate monthly mortgage payment with principal, interest, property tax, homeowners insurance, and HOA. Free PITI mortgage calculator.
How to use this mortgage calculator
A mortgage calculator answers the search people actually type: “what will my monthly payment be?” Principal and interest follow amortization. Property tax, insurance, and HOA are the extras that turn a loan quote into a real housing budget.
Use a rate from a lender’s Loan Estimate, not a headline APR from an ad. If you put less than 20% down, budget for PMI until you reach 20% equity. Compare a 15-year and 30-year term before you lock.
Formula
Worked example
A $320,000 loan at 6.5% for 30 years has principal and interest of about $2,023 per month.
Related calculators
More finance calculators
- Etsy Fee Calculator — Calculate Etsy seller fees, offsite ads, payment processing, and what you actually take home. Up-to-date Etsy fee calculator for US and similar shops.
- Auto Loan Calculator — Estimate a car loan payment and the total interest paid.
- Loan Calculator — Calculate monthly payments, interest, and total cost for a fixed-rate loan.
- Compound Interest Calculator — Project investment growth with compound interest and regular contributions.
- Credit Card Payoff Calculator — Estimate payoff time and interest for a fixed monthly credit card payment.
- Mortgage Affordability Calculator — Estimate a home price from an affordable monthly principal-and-interest budget.
Frequently asked questions
Is this mortgage calculator free?
Yes. It works instantly in your browser with no signup.
Are the results exact?
Results follow the stated formula, but real-world fees, timing, and rounding can vary.
How is a monthly mortgage payment calculated?
Principal and interest use the standard amortization formula. This calculator also adds property tax, homeowners insurance, and HOA so you see a PITI-style total.
What is PITI?
Principal, Interest, Taxes, and Insurance. Lenders underwrite on PITI (and often HOA), not principal and interest alone.
How much house can I afford?
A common starting point is a total housing payment near 28–36% of gross income, but lenders use full DTI. Try the mortgage affordability calculator with a payment you can actually keep.
Does this include PMI?
Not as a separate line. If your down payment is under 20%, add a PMI estimate to the monthly total or raise the down payment in the form.
15-year vs 30-year mortgage?
A 15-year loan has a higher monthly payment and much less total interest. Switch the term here to compare both.
Results are estimates for informational purposes and are not financial, legal, or professional advice. Last reviewed 2026-08-20.