Mortgage Payment Calculator (PITI & Amortization)
Estimate your monthly mortgage commitment before shopping for a home. Calculate principal, interest, property taxes, home insurance, and private mortgage insurance (PMI).
How to Use Mortgage Payment Calculator
Enter Home Price & Down Payment
Provide purchase price and your cash down payment (in dollars or percent).
Set Loan Terms
Choose loan term (15 or 30 years) and annual interest rate.
Add Taxes & Insurance
Optionally enter estimated annual property tax and homeowners insurance.
About Mortgage Payment Calculator
Applies the standard monthly loan amortization formula: M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is total monthly payments.
Supported Formats
Operational Limits
- •Calculations estimate fixed-rate loans; adjustable-rate mortgages (ARMs) fluctuate over time.
Key Features
- Standard fixed-rate annuity amortization formula
- Calculates Principal & Interest (P&I) and full PITI payment
- Amortization table breakdown showing annual principal vs interest balance
- Automatic Private Mortgage Insurance (PMI) estimation for down payments under 20%
- Total interest paid over the life of the loan summary
Frequently Asked Questions
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