Mortgage Calculator
Monthly principal & interest, total interest over the life of the loan, and your true monthly payment with taxes, insurance, PMI, and HOA added in (PITI). Runs in your browser; nothing is stored.
Your true monthly payment
Add the costs that come with the home — taxes, insurance, PMI, and HOA — for your real monthly number (PITI). Pick your state for an estimate, then drop in your county's exact tax rate for precision.
Know your county's rate? Enter it above for an exact figure — search "<your county> property tax rate." The rate and dollar amount stay in sync, and the tax updates with the home price.
How the math works
Your monthly principal-and-interest payment comes from the standard amortization formula: P × r ÷ (1 − (1+r)−n), where P is the loan amount, r the monthly rate, and n the number of payments. Early on, most of each payment is interest; the split flips as the balance falls. That's why extra principal payments punch so far above their weight — every extra dollar skips the interest queue entirely and shortens the loan from the back.
Frequently asked questions
How is the monthly payment calculated?
Amortization formula above. A $400,000 loan at 6.5% for 30 years ≈ $2,528/month P&I.
How much interest will I pay in total?
Often more than the loan itself — about $510,000 on that same $400,000 example. Your exact figure appears above.
Do extra payments really help?
An extra $200/month on that example pays the loan off ~5 years sooner and saves over $100,000. Try the field above with your numbers.
Does this include taxes and insurance?
Yes — the true monthly payment section adds property tax, homeowners insurance, PMI, and HOA to your principal & interest for your full monthly cost (PITI). Enter tax and insurance as yearly amounts; PMI and HOA as monthly.
What is PITI?
Principal, Interest, Taxes, and Insurance — the four parts of most monthly mortgage payments, usually collected together in escrow. Add HOA where it applies. The true-monthly box above combines them all.
How accurate are the tax and insurance estimates?
Choosing a state fills in a statewide-average property-tax rate and insurance premium — a solid ballpark. Property tax really varies by county, so for an exact figure enter your county's rate in the property tax rate (%) field (a quick search for "<your county> property tax rate" gives it). The rate and the dollar amount stay in sync, and every field is editable.
Estimates for information only — not financial or lending advice.