Mortgage Calculator
Calculate your monthly mortgage payment, full amortization schedule, and how much home you can afford — instantly and for free.
Mortgage Payment Calculator
Enter your loan details to calculate monthly payment including PITI.
Home Affordability Calculator
Find out how much home you can afford based on your income and debts.
Refinance Break-Even Calculator
Find out how long until refinancing saves you money.
Amortization Schedule
Calculate on the Payment tab first to see your year-by-year schedule.
| Period | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| Calculate a mortgage above to see your amortization schedule. | |||
How to Use the Mortgage Calculator
Enter your home price, down payment percentage, interest rate, and loan term to calculate your estimated monthly mortgage payment. The calculator includes principal, interest, property taxes, homeowners insurance, and PMI (if applicable).
Understanding Your Mortgage Payment
Your monthly mortgage payment has four components, often called PITI:
- Principal: The amount applied to your loan balance each month
- Interest: The cost of borrowing, calculated on your outstanding balance
- Taxes: Property taxes collected and held in escrow
- Insurance: Homeowners insurance and PMI (for down payments under 20%)
The Mortgage Payment Formula
Monthly payment (M) = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ – 1], where P = loan principal, r = monthly interest rate, n = number of payments.