Mortgage Payment Calculator
Estimate your monthly mortgage payment including principal, interest, property taxes, homeowner’s insurance, and PMI. Adjust any input to see how it affects your payment.
Mortgage Payment Calculator
PITI breakdown · Amortization preview · PMI estimate
How to Use This Mortgage Payment Calculator
Enter your home price, down payment, interest rate, loan term, estimated property taxes, and homeowner’s insurance. The calculator returns your estimated monthly PITI payment — principal, interest, taxes, and insurance — along with a breakdown of how much goes toward each component.
What Is a PITI Payment?
PITI stands for Principal, Interest, Taxes, and Insurance. Lenders use your total PITI payment — not just principal and interest — when calculating your debt-to-income ratio. Including taxes and insurance gives you a realistic picture of your true monthly housing cost.
Understanding the Payment Breakdown
In the early years of a mortgage, the majority of each payment goes toward interest rather than principal. This is because interest is calculated on the remaining loan balance. Over time, as the balance decreases, more of each payment reduces principal. This is called amortization.
What Affects Your Mortgage Payment?
- Loan amount: The higher your home price minus down payment, the higher your payment
- Interest rate: Even a 0.5% rate difference can change your payment by $50–$150/month on a $400,000 loan
- Loan term: A 15-year mortgage has a higher monthly payment but dramatically less total interest paid
- Property taxes: Vary significantly by state and county — Utah and Florida have very different effective tax rates
- PMI: Required on conventional loans with less than 20% down; typically 0.5%–1.5% of the loan amount annually
