Mortgage calculator.
See exactly what your monthly payment looks like — including taxes, insurance, PMI, and HOA. Plain numbers, no surprises.
Common questions
What does PITI mean?
PITI stands for Principal, Interest, Taxes, and Insurance — the four parts of a typical monthly mortgage payment. Our calculator includes all four, plus optional HOA dues and PMI.
When do I need PMI?
Private Mortgage Insurance is typically required by lenders when your down payment is less than 20% of the home price on a conventional loan. We auto-calculate it at roughly 0.5% of the loan amount per year — a reasonable estimate, though real PMI varies.
How much house can I afford?
A common rule of thumb is that your total monthly housing cost (PITI) shouldn't exceed 28% of your gross monthly income. So someone earning $100k a year (about $8,333/month) should aim to keep housing under $2,333/month.
Should I choose a 15 or 30 year mortgage?
15-year loans have higher payments but cost dramatically less in total interest. A $400k loan at 6.85% costs about $544k in interest over 30 years, but only $230k over 15 years. The tradeoff: less monthly cash flow flexibility.