Mortgage Calculator (2026)
Calculate monthly US mortgage payments with loan amount, rate, term, property tax and insurance.
United States Calculator
Adjust Your Inputs
Move the sliders or type exact numbers. Results update instantly.
Instant Estimate
Your Results
Monthly Payment
$2,935
Based on your selected mortgage calculator assumptions. Try different sliders to compare scenarios.
Principal & Interest
$2,335
Loan Amount
$360,000
Total Interest
$480,583
These are planning estimates, not tax, legal or investment advice. Country rules, lender policies and tax rates can change.
How to Use the Mortgage Calculator
Enter home purchase price & down payment
Specify the total purchase price and your upfront down payment (e.g. 5%, 10%, or 20%).
Select loan term & interest rate
Choose between standard US 30-year or 15-year fixed loans, and enter current market mortgage rates.
Include property taxes & insurance
Add annual property tax assessments and homeowner insurance premiums to calculate true monthly PITI.
Formula & Calculation Methodology
Payment = Principal and Interest + Taxes + InsuranceThis calculator uses standard United States financial formulas, IRS thresholds, and amortization schedules. All results compute instantly in your browser with zero data stored or transmitted.
Calculation Examples & Scenarios
Standard US 30-Year Fixed Mortgage
$450,000 home price, 20% down ($90,000), 6.75% interest rate, $5,400/yr property tax, $1,800/yr homeowners insurance.
15-Year Fixed Loan Comparison
$450,000 home price, 20% down ($90,000), 6.00% interest rate over 15 years.
Key Benefits
- Understand full monthly housing costs (Principal, Interest, Taxes, and Insurance)
- Evaluate how down payment sizes affect monthly payments and loan affordability
- Compare total lifetime interest costs between 15-year and 30-year terms
- Plan homebuying budgets within standard debt-to-income (DTI) guidelines
Common Use Cases
- Pre-approval budgeting before making an offer on a house
- Determining whether to pay 20% down to avoid Private Mortgage Insurance (PMI)
- Analyzing refinancing break-even points with current mortgage rates
Understanding the PITI Components of a US Mortgage
When buying a home in the United States, your actual monthly housing expenditure is rarely just principal and interest. Lenders calculate your payment based on PITI: Principal (paying down loan balance), Interest (the lender fee), Taxes (county/municipal property taxes), and Insurance (homeowners hazard insurance).
If your down payment is less than 20% on a conventional loan, your lender will also add Private Mortgage Insurance (PMI), typically costing between 0.3% and 1.5% of the original loan balance annually.
Frequently Asked Questions
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the complete monthly housing cost paid to your mortgage servicer, where taxes and insurance are typically managed via an escrow account.
While 20% down avoids Private Mortgage Insurance (PMI) on conventional loans, many buyers purchase with 3% to 5% down on conventional loans or 3.5% on FHA loans.
A 30-year mortgage provides lower mandatory monthly payments and greater cash flow flexibility. A 15-year mortgage usually features lower interest rates and saves tens of thousands of dollars in lifetime interest, but requires higher monthly payments.
Making even one extra mortgage payment per year or adding $100–$200 monthly directly toward principal can shorten a 30-year mortgage by 4 to 8 years and save massive interest.
Lenders commonly look for housing expenses (PITI) to stay under 28% of your gross monthly income, and total debt payments (mortgage, auto, student loans, credit cards) to remain under 36%.
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