Simple Mortgage Calculator

Mortgage Payment Calculator

Estimate your monthly mortgage payment (PITI + PMI) with charts and a full amortization schedule.

Use our comprehensive mortgage payment calculator to estimate your monthly house payment, including principal and interest, property taxes, homeowners insurance, and PMI. Simply enter your home’s purchase price, down payment, and an estimated interest rate to get a detailed breakdown. This free tool is the first step toward understanding your homeownership costs and making a confident decision.
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Monthly payment breakdown

Balance and costs over time (yearly)

Amortization schedule

Enter Property & Mortgage details

Down payment

Results

Monthly payment (all-in)
$2,675.51
P&I only (first month)
$2,075.51
Property tax / mo
$450.00
Insurance / mo
$100.00
HOA / mo
$50.00
PMI / mo
Not required
Loan amount
$320,000.00
Down payment
$80,000.00
Total interest (life)
$427,185.01
Total cost (P&I life)
$747,185.01
Amortization length
31 years (361 mo)
LTV at start
80.00%

30-Year Fixed-Rate Mortgage Calculator

Input your loan details and see an instant estimate of your monthly mortgage payment. This page focuses on the classic 30-year fixed-rate loan—America’s most popular mortgage. The calculator considers principal & interest (P&I) and can include property taxes, homeowners insurance, PMI, and HOA dues for a complete picture of PITI.

Calculator Inputs

  • Home price and down payment (amount or percent)
  • Interest rate (APR)
  • Loan term (30 years by default)
  • Property tax & homeowners insurance (annual)
  • PMI (if down payment < 20%)
  • HOA dues (monthly), if applicable

What is a Fixed-Rate Mortgage?

A fixed-rate mortgage keeps the same interest rate for the entire term of the loan. With a 30-year fixed, your principal and interest portion stays predictable month to month, which makes budgeting easier and protects you from rising rates.

Benefits

  • Predictable monthly P&I payment
  • Simpler budgeting
  • No rate resets or surprises

Considerations

  • Higher total interest vs. shorter terms (e.g., 15-year)
  • Slower equity build compared to shorter terms

Key Terms and Definitions

Principal
The amount you borrow to buy the home (home price minus down payment).
Interest
The cost of borrowing the principal, based on your APR.
PITI
Acronym for Principal, Interest, Taxes, and Insurance. Many lenders qualify borrowers using the full PITI payment.
PMI (Private Mortgage Insurance)
Typically required if your down payment is under 20%. PMI protects the lender, not the borrower. It may drop off when your loan-to-value falls to ~80%.
HOA Dues
Monthly fees for community maintenance or amenities. These aren’t part of your principal & interest payment but are part of total housing costs.

How to Use the Calculator

  1. Enter the home price and your down payment (percent or dollar amount).
  2. Enter the interest rate (APR) and select the 30-year term.
  3. Add annual property taxes and homeowners insurance for a full PITI estimate.
  4. If your down payment is under 20%, include PMI (or let the tool estimate it).
  5. Add monthly HOA dues if applicable.

Tip: If you’re unsure about property taxes or insurance, you can start with local averages, then refine with your actual bills or a lender quote.

Understanding Your Results

The summary shows your estimated monthly payment and the total interest and total cost over the life of the loan. Use the charts to see how your payment is split among principal, interest, taxes, insurance, PMI, and HOA. The amortization schedule shows how more of each payment goes to principal over time as your balance declines.

  • Monthly Payment (All-in): P&I + taxes + insurance + PMI + HOA.
  • Total Interest Paid: The cumulative interest over 30 years.
  • Total Cost: Principal + Total Interest (not including HOA).
  • Amortization: Early payments are interest-heavy; later payments shift toward principal.

Factors That Affect Your Mortgage Payment

Down Payment

A larger down payment reduces your loan amount and may eliminate PMI, lowering the monthly payment and total interest.

Interest Rate

Even small rate changes can have a large impact over 30 years. Improving credit and shopping multiple lenders can help secure a lower rate.

Loan Term

A 30-year term gives the lowest P&I payment but the highest total interest. A 15-year term increases the monthly payment but significantly reduces lifetime interest.

Taxes, Insurance, HOA

These vary by location and property type. Include them for an accurate PITI estimate and better affordability planning.

Additional Mortgage Calculators

Ready to compare scenarios? Adjust your inputs above and review how your monthly payment, total interest, and payoff timeline change.