Mortgage Calculator
Calculate the full monthly mortgage payment including principal, interest, property tax, home insurance and PMI, with a stacked breakdown and total cost of ownership over the life of the loan.
Interactive tool
Mortgage details
Optional: tax, insurance, PMI, HOA
Monthly breakdown
LiveWhat is a Mortgage Calculator?
A mortgage calculator computes the full monthly cost of owning a home, not just the principal-and-interest payment your lender quotes. This calculator follows the standard PITI model (Principal, Interest, Taxes, Insurance) and adds PMI and optional HOA on top, so you can see the true cash-flow impact of a home purchase.
How to Use the Mortgage Calculator
- 1Enter the home price and the down payment (as a percent or a dollar amount)
- 2Enter the annual interest rate (APR) and pick a term (15 / 20 / 30 years)
- 3Optionally enter property tax %/yr, home insurance/yr, PMI %/yr and monthly HOA
- 4See the full PITI breakdown, total cost over the life of the loan, and the stacked-area chart
- 5Toggle between percent and dollar down payment to see PMI flip on or off
Key features
Full PITI + PMI + HOA breakdown
See where every dollar of your monthly payment goes
Smart PMI handling
PMI is applied only while LTV > 80% and removed once you reach 20% equity
Down payment as % or $
Switch between percent and amount with one click
Stacked-area chart by year
Visualise how the principal-vs-interest split evolves alongside escrow costs
Total cost of ownership
See the home price + interest + taxes + insurance + PMI + HOA you will actually pay
Multi-currency
30+ ISO 4217 currencies for international buyers
Locale-aware formatting
Numbers and currencies formatted using your browser locale
100% private
No mortgage details ever leave your browser: calculations run entirely on your device
Why Use a Dedicated Mortgage Calculator?
Most mortgage calculators stop at principal and interest, but the actual monthly outflow on a home is usually 25-40% higher once property tax, insurance and PMI are added. This calculator surfaces all of those line items so you can compare the real monthly impact of different home prices, down payments and terms before you sign anything.
Common use cases
- Decide between a 15-year and 30-year mortgage on the same home
- See how a larger down payment removes PMI and lowers the monthly payment
- Compare two homes in different tax jurisdictions side by side
- Estimate house affordability based on a target monthly payment
- Project total cost of ownership before making a purchase offer
- Stress-test a mortgage at +1% rate to see the cash-flow impact
What is PITI?
PITI stands for Principal, Interest, Taxes and Insurance: the four standard components of a US mortgage payment. Lenders use PITI rather than just P&I when underwriting because the property tax and insurance are usually escrowed into the monthly payment.
When does PMI drop off?
- PMI (Private Mortgage Insurance) is required when down payment is less than 20%
- Typically removed when the loan-to-value ratio reaches 80% based on the original purchase price
- Some lenders auto-remove PMI at 78% LTV without a request
- You can request PMI removal earlier if your home appreciates and a new appraisal supports a lower LTV
- This calculator removes PMI from the schedule once the amortising balance crosses the 80% threshold of the original price
Property tax assumptions
Property tax is modelled as a constant percentage of the home price per year. Real-world property tax can rise as assessed values change; check your local jurisdiction for tax-rate caps and homestead exemptions if you plan to live in the home long term.
Tips & best practices
Aim for 20% down to skip PMI
Even a small bump from 18% to 20% down can save hundreds per month and tens of thousands over the life of the loan.
Compare the 15-year option
A 15-year mortgage usually costs 30-50% less in total interest than a 30-year, in exchange for a higher monthly. Run both and see which fits.
Get insurance quotes early
Home insurance varies widely by ZIP, building age, and coverage. Plug in real quotes rather than a guess.
Tax rate ≠ tax bill
Property tax rates can apply to assessed value rather than market price. If your jurisdiction has a homestead cap or assessment ratio, check the effective rate.
Variable rates are not modelled
This tool assumes a fixed rate for the full term. Run an ARM scenario at the highest rate the loan could adjust to.
Privacy & security
This mortgage calculator runs entirely in your browser. No mortgage details, addresses, or contact info are ever uploaded, logged, or stored anywhere outside your device.
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Frequently Asked Questions
What does PITI mean?
PITI stands for Principal, Interest, Taxes and Insurance: the four standard components of a US mortgage monthly payment. Most lenders escrow taxes and insurance into your payment, so the PITI number is the actual cash leaving your account each month.
How does the calculator handle PMI?
When loan-to-value (LTV) exceeds 80%, PMI is added to the monthly payment. The schedule removes PMI in the month where the amortising balance first crosses 80% of the original home price. If you put 20% or more down, no PMI is applied.
Should I pick a 15- or 30-year mortgage?
A 15-year mortgage has a higher monthly payment but typically saves 50%+ in total interest. A 30-year keeps the monthly payment low for cash-flow flexibility. Run both scenarios and compare the "Total cost" line to decide.
Is property tax really a flat percentage?
In reality, property tax can change with reassessments and exemptions. This calculator models it as a constant percentage of the home price per year. For a long-term projection, reduce that rate slightly if your jurisdiction has assessed-value caps.
Does this handle adjustable-rate mortgages (ARMs)?
No. This calculator assumes a fixed rate for the full term. To stress-test an ARM, run the worst-case rate scenario (the cap) to see what the payment could become.
Is my mortgage information sent to a server?
No. All calculations happen entirely in your browser. No financial details, home prices, or rates are ever uploaded, logged, or shared.