Free mortgage calculator

Know exactly what
you can afford
before you shop.

See your monthly payment broken down by principal, interest, taxes, and insurance — with real rates for your state.

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All 50 states
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Interest rate6.48%
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How it works

How to use this mortgage calculator

Enter your home price, down payment, interest rate, loan term, and state. The calculator computes your principal and interest payment using the standard amortization formula, then adds estimated property taxes (based on your state's average rate), homeowners insurance (~0.5% annually), and PMI if your down payment is less than 20%.

The result is your estimated total monthly housing payment — what lenders call PITI (Principal, Interest, Taxes, Insurance). Most lenders require this to be no more than 28% of your gross monthly income.

Quick glossary

PITI

Principal, Interest, Taxes & Insurance — your true monthly housing cost.

PMI

Private Mortgage Insurance, required when your down payment is below 20%.

DTI

Debt-to-Income ratio. Most lenders cap your housing costs at 28% of gross income.

Amortization

How your payment splits between principal and interest — more interest up front, more principal later.

APR

Annual Percentage Rate — includes the interest rate plus lender fees, making it the true cost to compare loans.

FAQ

Frequently Asked Questions

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