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Mortgage Payment Calculator

Adjust any input and the payment, the cost breakdown, and the full amortization schedule update together. Includes taxes, insurance and PMI — the costs most calculators leave out.

Standard amortization PITI included Updated Sept 2026

Inputs

Live
The loan
$
$100k$1.5M
$
0%60%
%
2%12%
Carrying costs
$
$
$
$
Total monthly payment
$0
Loan amount
—
Total interest
—
Paid off
—
Amortization schedule
YearPrincipalInterestBalance

Actions

How it works

M = P · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1)
P — amount financed
r — annual rate ÷ 12
n — term in months

Property tax, insurance, HOA and PMI are added on top of M. That combined figure is what lenders call PITI, and it's the number to compare against your income.

Related

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Reading your result

On a $500,000 home with 20% down, you finance $400,000. At 6.75% over thirty years the principal and interest portion is about $2,594 a month — but the bill your lender actually collects is closer to $3,203 once property tax and insurance go through escrow.

The figure worth staring at is total interest. Over the full term it exceeds $533,000 — more than the original loan. Drag the term to 15 years and watch that number fall by well over half, or add $200 of extra principal a month and see how many payments disappear off the end of the schedule.

Drop below 20% down and PMI is added automatically at an estimated 0.55% of the loan per year, which is typical but varies by lender and credit score.

Common questions

Most show principal and interest only. Your real monthly bill also carries property tax and homeowners insurance through an escrow account, plus HOA dues and PMI where they apply. On this example those extras add roughly $608 a month.
When your down payment is under 20%, PMI is applied at 0.55% of the loan amount per year — a common mid-range figure. Real quotes range from about 0.3% to 1.2% depending on credit score, loan type and down payment. Once you reach 20% equity you can usually request its removal.
Yes, because every extra dollar goes straight to principal and stops accruing interest for the rest of the term. Enter an amount in "Extra principal" and the schedule recalculates — the payoff date moves earlier and the total interest figure drops immediately.
A 15-year loan carries a noticeably higher monthly payment but dramatically less total interest, and usually a slightly better rate. A 30-year keeps monthly costs low and preserves cash flow. Toggle between them above — the trade-off is visible in the two figures side by side.
The amortization maths is exact. Taxes, insurance and HOA are your own estimates, and lenders add closing costs, escrow cushions and rate-lock adjustments that vary by state and property. Use this to plan, then confirm with a written Loan Estimate.