Mortgage Calculator Results
Total Cost of Mortgage Chart
Amortization Table
A breakdown of principal and interest paid each month over the life of your loan.
A breakdown of principal and interest paid each month over the life of your loan.
Your estimated monthly housing payment may include more than just principal and interest. Principal is the portion of your payment that reduces the loan balance, while interest is the cost of borrowing the money. Property taxes and homeowners insurance are commonly included when estimating your total monthly housing payment, often referred to as PITI: principal, interest, taxes, and insurance.
Depending on your loan and property, your actual monthly cost may also include mortgage insurance, homeowners association (HOA) dues, flood insurance, or other property-related expenses. These costs can vary significantly by property, location, loan program, down payment, and insurance coverage.
This calculator provides an estimate for planning purposes only. Results depend on the information you enter and do not represent a loan approval, loan estimate, or guaranteed payment. Actual mortgage payments and costs may differ based on your interest rate, loan program, taxes, insurance, mortgage insurance, HOA dues, closing costs, and other applicable charges.
See how different loan amounts, interest rates, and loan terms can change the estimated monthly principal and interest payment.
Example only: These scenarios are for educational purposes and are not current mortgage rate quotes or loan offers. Payments shown include principal and interest only. Property taxes, homeowners insurance, mortgage insurance, HOA dues, and other costs may increase the total monthly housing payment.
PITI stands for principal, interest, taxes, and insurance, the four common components used to estimate a monthly housing payment. Principal reduces your loan balance, interest is the cost of borrowing, property taxes are typically based on the property’s assessed value, and homeowners insurance helps protect the property.
Your total monthly housing payment may also include mortgage insurance (PMI or other program-specific mortgage insurance) and HOA dues, depending on your loan type, down payment, and property.
