Estimate your monthly mortgage payment (principal, interest, taxes, insurance and PMI) and total interest over the life of the loan.
Informational only — not financial advice. This calculator provides general estimates for educational purposes and does not account for every factor in your situation. It is not financial, investment, tax, or legal advice. Figures are estimates and may not reflect current rates. Consult a qualified professional before making financial decisions.
Your monthly mortgage payment is usually far more than principal and interest. This calculator estimates the full PITI payment — principal, interest, property taxes and insurance — and adds private mortgage insurance (PMI) when your down payment is under 20%, plus any HOA dues.
The principal-and-interest portion is computed with the standard amortization formula, M = P · r(1+r)n / ((1+r)n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Taxes and insurance are annual figures divided into monthly escrow.
The large number is your estimated total monthly payment. Below it, each component is broken out so you can see how much is going to the lender as interest versus escrow for taxes and insurance. The "total interest paid" line shows the true long-run cost of the loan — on a 30-year mortgage it often approaches or exceeds the amount you borrowed.
Rates you enter here are your own estimates; this tool does not fetch live rates. For today's rates, check a lender or an aggregator such as the CFPB's owning-a-home resources.