Mortgage Calculator

Calculate your monthly mortgage payments including principal, interest, taxes, and insurance (PITI). Compare different loan scenarios and determine your home affordability.

Calculate Your Mortgage Payment

Enter the total purchase price of the home
Typical down payments: 3-5% (FHA), 10-20% (Conventional)
Typically 1-2% of home value annually
Usually $800-$2000 annually
Required if down payment is less than 20%. Usually 0.3-1.5% of loan amount annually
Homeowners Association fees if applicable

Professional Financial Tools

Access our complete suite of mortgage and finance calculators

Advanced Loan Calculator

Compare multiple loan scenarios with detailed amortization

Home Affordability Tool

Determine exact purchase power based on income

Refinance Analyzer

Calculate refinance savings and break-even point

Rent vs Buy Analysis

Complete financial comparison over time

Get Pre-Approved Today

Connect with top-rated lenders and get pre-approved in minutes. Compare rates from multiple lenders to find your best deal.

Home Affordability Analysis

Use these guidelines to determine how much house you can afford based on your income and debts.

28% Rule

Your mortgage payment should not exceed 28% of your gross monthly income.

Monthly Income Needed: $0
Annual Income Needed: $0

36% Rule

Your total debt payments should not exceed 36% of your gross monthly income.

Max Total Debt Payment: $0
Available for Housing: $0

Down Payment

Recommended down payment amounts for different loan types.

Conventional (20%): $0
FHA (3.5%): $0

Closing Costs

Estimated closing costs and cash needed at closing.

Closing Costs (2-5%): $0
Total Cash Needed: $0

Quick Affordability Calculator

Understanding Mortgage Payments

PITI Breakdown

  • Principal: The amount you borrowed
  • Interest: Cost of borrowing money
  • Taxes: Property taxes paid to local government
  • Insurance: Homeowners insurance protection

PMI Explained

  • Required when down payment < 20%
  • Protects lender if you default
  • Can be removed when equity reaches 20%
  • Typically 0.3% to 1.5% of loan amount annually

Interest Rates

  • Fixed rates stay the same throughout the loan
  • ARM rates adjust periodically
  • Credit score greatly affects your rate
  • Points can lower your interest rate

Mortgage Tips & Guidelines

Before You Buy

  • Get pre-approved for a mortgage
  • Save for down payment and closing costs
  • Check your credit score and report
  • Calculate total monthly housing costs
  • Consider future income stability

Shopping for Rates

  • Compare offers from multiple lenders
  • Look at APR, not just interest rate
  • Consider closing costs and fees
  • Lock your rate when you find a good deal
  • Negotiate fees and terms