Home · Mortgage

Mortgage payment

The number at the right is PITI — principal, interest, taxes, and insurance — plus PMI and HOA if they apply. Change any slider and it updates.

Home price

$

Down payment 10%

%

Interest rate

%

Loan term

yrs

State

Fills a typical property-tax rate

Property tax rate

%

Use state average

Insurance, PMI, HOA

Homeowners insurance / year

$

PMI rate (if down < 20%)

%

HOA dues / month

$

What you repay

Principal versus interest over the full loan.

Paydown over time

Balance falls; early years are mostly interest.

Year-by-year

Principal, interest, and remaining balance.

Year	Principal paid	Interest paid	Balance

How this mortgage calculator works

U.S. homeowners rarely pay “just the mortgage.” Most conventional loans collect PITI each month: principal, interest, property tax, and homeowners insurance. If you put down less than 20%, private mortgage insurance (PMI) is usually added until you reach about 20% equity. Condos and planned communities may also bill HOA dues.

This tool uses the standard fixed-rate amortization formula for principal and interest, then layers the extras as monthly amounts. Property tax is estimated from a statewide average effective rate you can override. Insurance is a yearly premium divided by 12. PMI is modeled as an annual percentage of the loan balance divided by 12 — real PMI can be monthly or single-premium and varies by credit score and loan-to-value.

Change the down-payment chips to see PMI appear or disappear. That is often a larger jump than a 0.125% rate change.

FAQ

Does this include property tax?

Yes. Pick your state for a typical rate, or type the rate from your county tax bill.

When does PMI drop off?

This estimate keeps PMI on whenever the down payment is under 20%. In real life, PMI can be canceled around 20% equity or must drop at 78% LTV on many loans.

Is this a pre-approval?

No. Lenders use credit, DTI, and overlays. Treat this as a planning number, not a commitment.