A mortgage calculator estimates your monthly home loan payment from the loan amount, interest rate, and term. Your total monthly cost combines principal and interest with property taxes, homeowners insurance, PMI, and any HOA dues. This calculator breaks down every component and shows a full amortization schedule.
What's in your monthly mortgage payment
Lenders call it PITI: Principal, Interest, Taxes, and Insurance. Principal and interest pay down the loan; property taxes and homeowners insurance are often collected in escrow; PMI applies when your down payment is under 20%; HOA dues apply to many condos and planned communities.
How extra payments save interest
Adding even a small fixed amount to principal each month shortens the loan and cuts total interest. Use the extra payment input to see how much sooner the loan is paid off and how much interest you avoid.
Check affordability against real income
Lenders compare your housing payment to documented income from pay stubs and bank statements. If you're self-employed, converting your statements to a spreadsheet makes it easy to total deposits and prove the income behind the payment.