US Mortgage Calculator (PITI)

What the US Mortgage Calculator does

The calculator works out your full monthly payment: principal and interest plus property tax, homeowners insurance, HOA fees and PMI, which applies when your down payment is under 20%. The result is the amount that will actually leave your account each month.

Buyers who look only at principal and interest often find the real payment is noticeably higher once taxes, insurance and other costs are added. The calculator builds the complete figure so you can budget for the home you can afford.

What goes into the payment

• Principal and interest: the loan itself, spread over the term.
• Property tax: an annual charge based on the home's value.
• Homeowners insurance: cover for the property.
• HOA fees: where a community or condo charges them.
• PMI: private mortgage insurance while your loan is above 80% of the home's value.

How the calculation works

1. Amortize the loan amount at your interest rate over the term to find principal and interest.
2. Divide the annual property tax by twelve.
3. Divide the annual homeowners insurance by twelve.
4. Add any monthly HOA fee.
5. Add PMI if your down payment is under 20%.

The sum is your total monthly payment. Change any input and the total updates, so you can see how each cost affects it.

What you need to enter

• Home price and down payment, which set the loan amount.
• Interest rate and loan term.
• Property tax, usually as an annual figure.
• Homeowners insurance, annual.
• HOA fees, if any.

Reading your result

The headline is your total monthly payment, with each component shown below it, so you can see how much goes to the loan and how much to taxes, insurance and fees.

A home with a modest loan payment but high property tax or HOA fees can cost more each month than a pricier home with lower carrying costs. Two homes at similar prices can differ by hundreds of dollars a month once taxes, insurance and HOA are counted, so compare homes on the full payment, not the list price.

PMI and the 20% mark

PMI generally applies while your loan is above 80% of the home's value, which means a down payment under 20%. It protects the lender, but you pay for it. As you pay down the loan and the balance falls below that mark, PMI can usually be removed.

The calculator shows PMI as its own line. For some buyers a slightly larger down payment removes PMI and reduces the loan at the same time, lowering the payment twice over. Try different down payments to see where that happens for your purchase.

Ways to use the estimate

• Test a 20% down payment to see the effect of removing PMI.
• Enter each property's taxes and HOA fees to compare true monthly costs.
• Try different terms: a longer term lowers the payment but increases total interest.
• See how a higher rate or tax bill would change what you pay.

Beyond the monthly number

Closing costs and moving expenses are paid up front and are not in the monthly payment, and the calculator does not include maintenance. Keep a buffer for both.

Tax rates, insurance premiums and HOA fees vary widely by location and property, so confirm the figures for any home you are serious about.

This article is general information only and not financial advice.

About This Mortgage Calculator

Use this mortgage calculator to get an instant, accurate estimate. The figures follow official guidance and every rate and threshold is kept up to date for 2026. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.