Mortgage Payment Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, and insurance (PITI). Plan your home purchase with confidence.
Buying a home is one of the biggest financial decisions you'll make. Our mortgage calculator helps you understand the true cost of homeownership by factoring in all components of your monthly payment. Beyond just principal and interest, we include property taxes, homeowners insurance, and PMI to give you a complete picture. Use this tool to determine what you can afford, compare different loan scenarios, and plan for the additional costs of homeownership.
Loan Details
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Additional Costs
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Your Monthly Payment
Total Monthly Payment
$2,989
Principal & Interest$2,023
Property Tax$667
Home Insurance$100
PMI$200
Loan Amount
$320,000
Total Interest Paid
$408,142
Understanding Your Mortgage Payment
What's Included in PITI?
- Principal: The amount borrowed that goes toward paying down the loan balance
- Interest: The cost of borrowing money, paid to the lender
- Taxes: Property taxes paid to local government, usually collected by lender
- Insurance: Homeowners insurance to protect your property
Money-Saving Tips
- • Put down 20% to avoid PMI
- • Shop around for the best interest rates
- • Consider a shorter loan term to save on interest
- • Make extra principal payments when possible
- • Review property tax assessments annually