USA: Mortgage & home
Mortgage Calculator
See the real monthly cost of a home loan, not just principal and interest. Enter the price, down payment, rate and term, then add property tax, insurance, HOA dues and PMI. The calculator shows your full payment (PITI), total interest, and how much an extra payment each month saves.
How to use the Mortgage Calculator
- Enter the home price and your down payment.
- Add the interest rate and pick a 30, 20, 15 or 10-year term.
- Fill in yearly property tax, insurance and any HOA dues.
- Add an extra monthly payment to see the interest you save.
Formula
Example
A $400,000 home with $80,000 down at 6.5% for 30 years has principal and interest of about $2,023 a month. With $400 tax and $150 insurance, the full payment is about $2,573.
What is PITI?
PITI stands for Principal, Interest, Taxes and Insurance - the four parts of most monthly mortgage payments. Lenders usually collect tax and insurance into an escrow account and pay those bills for you.
How to lower your payment
- Put down 20% to avoid PMI
- Shop at least three lenders - rates vary
- Improve your credit score before applying
- Consider buying points to lower the rate if you will stay long term
- Appeal your property tax assessment if it looks too high
Related free tools
Frequently asked questions
What is PMI and when does it stop?
Private mortgage insurance protects the lender when you put down less than 20% on a conventional loan. It usually costs 0.3-1.5% of the loan per year and can be removed once you reach 20% equity; it ends automatically at 22%.
Is a 15-year or 30-year mortgage better?
A 15-year loan has a higher payment but a lower rate and far less total interest. A 30-year loan keeps the payment low and flexible - you can still pay extra.
Does this include closing costs?
No. Use the closing cost calculator for the cash you need on closing day.
How accurate is it?
The math is exact for a fixed-rate loan. Your lender's Loan Estimate will show the official figures, including escrow details.
Results are estimates for planning, not financial advice. Confirm important decisions with a qualified professional. Your inputs stay in your browser and are not sent to Soft2Cloud.
Last updated: November 2026