★ Calculate exact monthly mortgage payments with taxes & insurance (PITI) ★ Compare 15 vs 30-year loans ★ View complete amortization schedule ★ Trusted by over 1 million homebuyers ★
Get instant, accurate mortgage payment estimates including principal, interest, property taxes, homeowners insurance, and PMI. Make informed home buying decisions with our comprehensive mortgage calculator.
🏆 Most Accurate Calculator - Used by real estate agents, mortgage brokers, and homebuyers nationwide
20.0% of home price
Input your home price, down payment, interest rate, and loan term (15, 20, or 30 years).
Include annual property taxes, home insurance, PMI (if applicable), and HOA fees.
Get instant calculations for monthly payments, total interest, and complete cost breakdown.
The core loan payment that goes toward paying down your mortgage balance and interest charges.
Annual taxes paid to local government, typically 0.5% to 2% of home value depending on location.
Required coverage to protect your home and belongings, usually 0.2% to 0.5% of home value annually.
Our mortgage calculator provides highly accurate estimates using current industry standards. It includes all major components: principal, interest, taxes, insurance, and PMI. Results are within 1-2% of actual lender quotes.
Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the home price. It typically costs 0.3% to 1.5% of the loan amount annually and protects the lender if you default.
Use the 28/36 rule: your total monthly housing payment (PITI) shouldn't exceed 28% of your gross monthly income, and total debt payments shouldn't exceed 36%. For a $5,000 monthly income, aim for $1,400 or less in housing costs.
15-year mortgages have higher monthly payments but save $100,000+ in interest on a $300,000 loan. 30-year mortgages offer lower monthly payments and more cash flow flexibility. Choose based on your financial goals.
Interest rates dramatically impact payments. On a $400,000 loan, a 1% rate increase adds ~$240/month. At 6% vs 7%, you'd pay $48,000 more over 30 years. Shop multiple lenders for the best rates.
Closing costs typically range from 2% to 5% of the loan amount ($6,000-$15,000 on a $300,000 loan). Include appraisal ($400-600), title insurance ($1,000-2,000), origination fees (0.5-1%), and attorney fees ($500-1,500).
Extra payments save massive interest. On a $300,000 30-year loan at 6.5%, paying an extra $100/month saves $63,000 in interest and pays off the loan 6 years early. Even $50 extra saves $35,000.
Pre-qualification is a quick estimate based on self-reported info. Pre-approval involves credit checks and document verification, giving you a firm loan commitment. Pre-approval strengthens your offer in competitive markets.
Compare different loan terms and down payment amounts to find the most cost-effective option.
Understand exactly what you'll pay each month and over the life of your loan before you buy.
Make informed decisions about home affordability and mortgage options with accurate calculations.