Estimate your monthly mortgage payment, total interest, and full PITI including taxes, insurance, and PMI.
Estimates only — not financial advice. Verify with your lender/advisor.
A mortgage calculator estimates your monthly home loan payment from the price, down payment, interest rate, and term, and can add taxes, insurance, and PMI to show your full PITI payment.
Principal and interest use the amortization formula M = P x r x (1 + r)^n / ((1 + r)^n - 1), where P is the loan amount (home price minus down payment), r is the monthly rate (APR divided by 12), and n is the number of payments (years x 12). Estimates only, not financial advice.
PITI stands for Principal, Interest, Taxes, and Insurance. It is your full monthly housing payment: the principal and interest plus one twelfth of your annual property tax and home insurance, plus any monthly PMI.
A larger down payment lowers the loan amount, which reduces both your monthly payment and the total interest you pay. Putting down less than 20 percent often means paying PMI until you build enough equity.