Mortgage Calculator
Plan your home purchase with confidence. Calculate accurate monthly PITI payments and visualize your loan payoff schedule.
Additional Monthly/Annual Costs
Estimated Monthly Payment
$0
Total Interest Paid
$0
Payoff Date:
How to use Mortgage Calculator
- Enter the Home Price and Down Payment amount.
- Set the Interest Rate and Loan Term (e.g., 30 years).
- Add Property Tax, Home Insurance, and HOA fees for accurate PITI calculation.
- View the 'Payment Breakdown' chart and 'Amortization Schedule' table.
Frequently Asked Questions
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the total monthly cost of your mortgage, not just the loan repayment.
How does a higher down payment help?
A higher down payment reduces your principal loan amount, which lowers your monthly payments and the total interest paid over the life of the loan.
What is an amortization schedule?
It's a table showing how much of each payment goes toward principal vs. interest. Over time, the interest portion decreases while the principal portion increases.
Should I include HOA fees?
Yes, if you are buying a condo or a home in a community with a Homeowners Association, including HOA fees gives you a realistic view of your monthly housing costs.