Mortgage Payment Calculator
Estimate the full monthly cost of a home loan. Enter the price, down payment, and rate — then add taxes, insurance, and HOA to see your true PITI payment.See what the mortgage you already have actually costs. Enter your current balance, rate, and the years left — then add taxes, insurance, and HOA for your true PITI payment, your payoff date, your equity, and what extra payments would save.
Monthly payment breakdown
How you compare
Your total monthly payment vs. all U.S. mortgage holders
Your interest rate vs. the market
This home’s price vs. your county’s median
Amortization schedule
Where every payment goes — by loan year, by tax year, or month by month.
Balance and interest over time
What you still owe, against what you’ve handed over in interest so far.
What rate are Americans actually locked into?
Share of all outstanding U.S. mortgages by interest rate — your rate band is highlighted. Move the rate above to see where you’d sit.
The 30-year rate over time
Annual averages since 2000 — today’s 6.49% next to two decades of context.
Freddie Mac Primary Mortgage Market Survey, annual averages; 2026 point is the current weekly rate (Jul 9 2026).
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Compare refinance offersWhat PITI means
Lenders think in PITI: Principal, Interest, Taxes, and Insurance. The loan payment is only part of the story — property taxes, homeowner's insurance, HOA dues, and any mortgage insurance can add hundreds a month. This calculator shows the full picture so you budget for the real number.
Already have the loan? The same math runs in reverse. Your remaining balance and the years left on the note give you today’s payment, how much interest is still ahead of you, and the date the loan clears — and once you add your home’s current value, your equity and loan-to-value ratio, which is what lenders look at for a refinance or a HELOC.
How it’s calculated
Loan = price × (1 − down %) when you’re buying, or simply your current balance when you already hold the mortgage. P&I = loan × r ÷ (1 − (1 + r)^−n), where n is the number of months left. The total monthly payment (PITI) adds property tax, insurance, and HOA. Equity = home value − balance; LTV = balance ÷ home value.
Results update as you type and are estimates, not professional advice — verify important decisions with a qualified professional.
Worked example
A $400k home, 20% down at 6.5% over 30 years is ~$2,023 P&I; with taxes and insurance the full payment is higher.
A $285,000 balance at 6.5% with 30 years left is ~$1,801 P&I. On a home now worth $420,000 that’s $135,000 of equity and a 68% LTV — comfortably under the 80% most lenders want before they’ll drop mortgage insurance or approve a cash-out refinance.
Common mistakes
- Budgeting for P&I only and ignoring taxes, insurance, and HOA.
- Forgetting PMI when the down payment is under 20%.
- Entering your original loan amount instead of your current balance — use the balance from your latest statement.
- Entering the original 30-year term instead of the years you actually have left.
- Assuming your escrow payment is fixed. Tax and insurance bills drift up every year; the increase fields above show where that lands.
- Still paying PMI after crossing 20% equity. Once your LTV is under 80%, you can usually ask to have it removed.
Frequently asked questions
Does this include PMI?
Not separately — if your down payment is under 20%, add private mortgage insurance into the insurance field.
Why is my payment higher than principal and interest?
Taxes, insurance, and HOA are bundled into most monthly payments through an escrow account.
How do I lower the payment?
A larger down payment, longer term, or lower rate all reduce the monthly figure — though a longer term raises total interest.
Can I use this if I already have a mortgage?
Yes — switch the toggle at the top of the calculator to Already paying a mortgage. It swaps home price and down payment for your current balance, the years you have left, and your home’s value, then gives you today’s payment, the interest still ahead of you, your payoff date, and your equity and LTV.
How do I find my current balance and years remaining?
Both are on your most recent mortgage statement — the balance is usually labelled "principal balance" or "unpaid principal," and the statement lists your maturity date, which tells you the years left. Your servicer’s website shows the same two numbers. Don’t use the original loan amount or the original term; they will overstate what you owe.
How much difference does 1% in rate make?
A lot. On a $350,000 loan over 30 years, principal & interest is about $2,212/mo at 6.5% but $2,447/mo at 7.5% — roughly $235 more every month, or about $84,605 over the life of the loan.
What else is in a monthly payment besides principal and interest?
Most lenders escrow property tax and homeowners insurance on top of P&I, and condo/HOA dues come separately. Below 20% down you'll usually also pay PMI. That's why this calculator asks for tax, insurance, and HOA.