Mortgage Calculator
Calculate monthly mortgage payments with principal, interest, taxes, insurance (PITI), and PMI. Compare rates, see amortization schedules, and estimate total loan costs for 15 or 30-year home loans.
PopularLoan Details
Enter the total amount you need to borrow
Annual interest rate (e.g., 6.5%)
Typical terms are 15 or 30 years
Additional Costs (Annual)
Annual property tax amount
Annual homeowner's insurance
Private Mortgage Insurance (if applicable)
Your Monthly Payment
Loan Summary
How the Mortgage Calculator Works
This calculator uses the standard mortgage formula to calculate your monthly payment. It considers the loan amount, interest rate, loan term, and additional costs like property taxes, insurance, and PMI.
The formula for the principal and interest portion is: M = P[r(1+r)^n]/[(1+r)^n-1], where M is monthly payment, P is principal, r is monthly interest rate, and n is number of payments.