Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and full amortization schedule instantly.
| Year | Principal Paid | Interest Paid | Total Paid | Balance |
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How to Use This Calculator
Enter your home price and down payment — the loan amount is calculated automatically. Input the interest rate you’ve been quoted (or use current averages from our state rate pages). Select your loan term and add estimated property tax and insurance for a complete picture of your monthly costs.
What Is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a complete monthly mortgage payment. Lenders use your total PITI payment when calculating your debt-to-income ratio, so it’s important to include all four when budgeting for a home purchase.
How Mortgage Payments Are Calculated
Your principal and interest payment is calculated using the standard amortization formula. In the early years of your loan, most of your payment goes toward interest. Over time, as your balance decreases, more goes toward principal. This is why making extra principal payments early in your loan saves disproportionately more in total interest.