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Mortgage Calculator

Q: What is PMI?

Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the home price. It protects the lender if you default. PMI is typically 0.2%–2% of the loan amount per year.

Q: What is included in PITI?

PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Lenders use PITI to determine if you qualify for a loan.

Q: How much house can I afford?

The common guideline is that your total housing payment (PITI) should not exceed 28% of your gross monthly income. Your total debt payments should not exceed 36% (the "28/36 rule").

Calculate monthly mortgage payment including principal, interest, taxes, insurance (PITI).

Loan Details

Home Price ($)

Down Payment ($)

Annual Interest Rate (%)

Loan Term (Years)

Monthly Extras (Optional)

Property Tax ($/year)

Home Insurance ($/year)

HOA Fee ($/month)

PMI Rate (%) (if <20% down)

About Mortgage Calculator

Mortgage Calculator is a free online tool that helps you calculate monthly mortgage payment including principal, interest, taxes, insurance (piti) quickly and accurately. Whether you're a student, professional, or just need a quick answer, this calculator provides instant results with clear explanations. All calculations run locally in your browser — no data is stored or transmitted.

How to Use

Enter your values Fill in the required input fields with your numbers. Use tab to move between fields quickly.

See instant results Results calculate automatically as you type — no need to press a button. Watch the output update in real time.

Review the breakdown Check the detailed breakdown, charts, or tables below the main result for a deeper understanding.

Adjust and compare Change any input value to instantly see how it affects the result. Great for comparing different scenarios.

🔒 Privacy note: All processing happens locally in your browser. Your data is never sent to any server.

Why Use Mortgage Calculator?

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Accurate & Reliable Mortgage Calculator uses standard mathematical formulas and algorithms, verified against reference implementations. Trust the results for homework, work, or personal use.

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Clear Explanations Get more than just a number. Where applicable, see step-by-step breakdowns, visual representations, and context that helps you understand the result.

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Instant Calculation Results update as you type — no need to press a calculate button or wait for a server response. Real-time feedback helps you explore different scenarios quickly.

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No Data Collection Your inputs are processed locally in your browser. No data is stored, transmitted, or used for any purpose. Close the tab and everything is gone.

Frequently Asked Questions

Private Mortgage Insurance (PMI) is required when your down payment is less than 20% of the home price. It protects the lender if you default. PMI is typically 0.2%–2% of the loan amount per year.

PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment. Lenders use PITI to determine if you qualify for a loan.

The common guideline is that your total housing payment (PITI) should not exceed 28% of your gross monthly income. Your total debt payments should not exceed 36% (the "28/36 rule").