Mortgage Calculator
Frequency
Down payment: 20.0% — Loan amount: 4,000
Base Monthly (PITI)
48
P&I Payment
33
Total Interest
4,030
Total Cost
9,030
Monthly Breakdown
Principal & Interest
33
Property Tax
10
Home Insurance
5
Year
Principal Paid
Interest Paid
Balance
1
85
317
3,915
2
176
627
3,824
3
275
929
3,725
4
383
1,223
3,617
5
499
1,508
3,501
6
625
1,784
3,375
7
761
2,049
3,239
8
909
2,303
3,091
9
1,069
2,544
2,931
10
1,242
2,773
2,758
11
1,430
2,986
2,570
12
1,633
3,185
2,367
13
1,853
3,366
2,147
14
2,092
3,529
1,908
15
2,350
3,672
1,650
16
2,630
3,794
1,370
17
2,932
3,893
1,068
18
3,260
3,967
740
19
3,615
4,013
385
20
4,000
4,030
0
About
The Mortgage Calculator computes your complete monthly housing cost — Principal & Interest (P&I) using the standard mortgage formula, plus optional property tax and home insurance (PITI). Enter the home price, down payment, loan term, and interest rate. A visual pie chart shows the proportion of principal vs interest over the full term, and the amortization table details every month of your loan.
How to use
- 1 Enter the home price and your down payment (amount or percentage).
- 2 Set the loan term (e.g. 30 years) and annual interest rate.
- 3 Optionally add monthly property tax and home insurance amounts.
- 4 Your monthly payment and total loan cost are shown instantly.
- 5 View the amortization schedule to see principal vs interest each month.
- What does PITI mean in a mortgage payment?
- PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a full monthly mortgage payment. Principal and interest pay down your loan. Property taxes are often collected monthly by the lender and held in an escrow account until due. Homeowner's insurance (and PMI if applicable) protects the lender's collateral. This calculator shows both the P&I amount and the full PITI total.
- How much down payment do I need to avoid PMI?
- Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price. PMI costs 0.5–1.5% of the loan amount per year and is added to your monthly payment. Putting down at least 20% eliminates PMI entirely and also reduces your loan amount, lowering both your monthly payment and total interest paid.
- Should I choose a 15-year or 30-year mortgage?
- A 15-year mortgage has higher monthly payments but a significantly lower interest rate and pays far less total interest — often half as much as a 30-year mortgage. A 30-year mortgage has lower monthly payments, giving you more cash flow flexibility, but you pay much more in total interest. Use the calculator to compare: enter the same home price with 15 vs 30 year terms to see the exact difference for your situation.