Mortgage Calculator
Mortgage analysis
Mortgage Calculator
How Mortgage Calculation Works
The Mortgage Calculator estimates your monthly mortgage payment including principal, interest, property taxes, and insurance (PITI). Enter the home price, down payment, interest rate, and loan term to understand the true monthly cost of homeownership.
Formula
Monthly P and I = P x [r(1+r)^n] / [(1+r)^n - 1] where P=loan amount, r=monthly interest rate, n=number of payments
Key Features
- ✓Full PITI payment breakdown (Principal, Interest, Tax, Insurance)
- ✓Adjustable down payment with PMI calculation
- ✓Amortization schedule showing equity buildup
- ✓Compare 15-year vs. 30-year loan scenarios
Pro Tip
A 20% down payment eliminates Private Mortgage Insurance (PMI), which typically costs 0.5-1% of the loan amount annually. If you cannot put 20% down, factor PMI into your monthly budget.
Recommended Tools & Services
Zillow Premier Agent
Connect with qualified buyers and sellers for your property listings
Realtor.com Advertiser
Premium real estate marketing and MLS access tools
Quicken Home & Business
Complete home and business financial management software
Disclosure: We may earn affiliate commissions from some of the products and services recommended on this site. This does not affect the price you pay and helps support our service to provide free tools.