About This Mortgage Payment Calculator
This free mortgage calculator helps you estimate your monthly home loan payment in seconds. It factors in the loan amount, interest rate, loan term, property taxes, insurance, and HOA fees to give you a clear picture of what owning a home will cost each month. By breaking down principal, interest, and other housing expenses, you can compare different loan options and plan your budget with confidence. Whether you’re buying your first home or refinancing, this calculator gives you a simple and reliable way to see your payment before you commit.
How to Use This Calculator
- Enter the home price and your down payment — the loan amount will be filled automatically.
- Add your loan term (years) and interest rate.
- (Optional) Include annual property taxes, homeowner’s insurance, and monthly HOA fees for a more accurate estimate.
- The calculator will instantly show your monthly principal & interest, your extra monthly costs, and the total monthly payment (PITI).
- Adjust the numbers to test different scenarios and find a payment plan that fits your budget.
❓ Frequently Asked Questions
Q: Does this calculator include property taxes and insurance?
Yes. If you enter your estimated annual taxes, insurance, and monthly HOA fees, the calculator adds them to your principal and interest payment to show the total monthly cost.
Q: Can I use this calculator for refinancing?
Absolutely. Just enter your current loan balance as the “loan amount,” adjust the interest rate and term, and you can see your new monthly payment compared to your current one.
Q: How accurate are the results?
The calculator provides an estimate based on the details you enter. Your actual payment may differ depending on your lender, credit score, and closing costs.
Q: What’s included in the total monthly payment (PITI)?
PITI stands for Principal, Interest, Taxes, and Insurance. This calculator shows each component separately so you know exactly where your money goes.