Mortgage Payment Calculator interactive tool
Calculator
Monthly payment (PITI)
What Is Mortgage Payment?
A mortgage payment calculator estimates your monthly home loan payment based on the loan amount, interest rate, and term. While it might seem straightforward, your total monthly payment is usually made up of four main components, commonly referred to as PITI.
How is a Mortgage Payment Calculated?
- Principal: The portion of your payment that goes toward paying down the actual loan balance.
- Interest: The cost charged by the lender for borrowing the money.
- Taxes: Property taxes assessed by your local government, usually divided into 12 monthly installments.
- Insurance: Homeowners insurance and, where applicable, private mortgage insurance (PMI) or another lender-required charge.
Why Use a Browser-Based Calculator?
When planning to buy a house, compare scenarios rather than relying on one payment. A different down payment, interest rate, tax bill, or insurance premium can change the monthly estimate substantially.
How To Use the Mortgage Payment Calculator
- Enter the loan amount (principal) you plan to borrow.
- Enter the annual interest rate and loan term in years.
- Optionally add annual property tax and insurance for a full PITI estimate.
- Review the monthly principal and interest (P&I) and total PITI payment.
- Use the Example button to load sample numbers, or Reset to clear.
Monthly mortgage payment and PITI estimate
Use this mortgage payment calculator when you need a monthly home-loan estimate that separates principal and interest from optional property taxes and insurance. It is useful for comparing loan amount, rate, and term scenarios before checking the figures with a lender.
Need the formula or convention behind this result? Read the calculator methods and assumptions.