Mortgage Calculator
Estimate your monthly payments for a new home loan.
Property Details
Purchase price of the home
Range: $0 - $5,000,000
20.0% of home price
Range: $0 - $500,000
Down Payment Impact
Loan Terms
Current avg: undefined%
Range: 0% - 15%
Varies by location (avg 1.2% of home value)
Range: $0 - $50,000
Homeowner's insurance premium
Range: $0 - $20,000
Homeowners Association fees (optional)
Range: $0 - $1,000
Affordability Analysis
Gross household income before taxes
Range: $0 - $1,000,000
Car loans, credit cards, student loans, etc.
Range: $0 - $10,000
Affordability: Stretched
Monthly PITI Payment
Principal, Interest, Taxes & Insurance
Total Monthly Payment
Including HOA fees
Total Interest
Over 30 years
Loan Amount
20.0% down payment
PITI Breakdown
Monthly Payment Breakdown
Principal vs Interest Over Time
Amortization Schedule (First 12 Months)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,661 | $328 | $2,333 | $399,672 |
| 2 | $2,661 | $330 | $2,331 | $399,342 |
| 3 | $2,661 | $332 | $2,329 | $399,011 |
| 4 | $2,661 | $334 | $2,328 | $398,677 |
| 5 | $2,661 | $336 | $2,326 | $398,341 |
| 6 | $2,661 | $338 | $2,324 | $398,004 |
| 7 | $2,661 | $340 | $2,322 | $397,664 |
| 8 | $2,661 | $342 | $2,320 | $397,323 |
| 9 | $2,661 | $343 | $2,318 | $396,979 |
| 10 | $2,661 | $345 | $2,316 | $396,634 |
| 11 | $2,661 | $348 | $2,314 | $396,286 |
| 12 | $2,661 | $350 | $2,312 | $395,937 |
Frequently Asked Questions
What is PITI and why is it important?
PITI stands for Principal, Interest, Taxes, and Insurance - the four main components of your monthly mortgage payment. Understanding PITI helps you budget for the true cost of homeownership, not just the loan payment.
How much house can I afford?
Generally, your total monthly housing payment (PITI) should not exceed 28% of your gross monthly income. Our calculator shows your debt-to-income ratio to help you determine affordability.
Should I choose a 15-year or 30-year mortgage?
15-year mortgages have higher monthly payments but lower total interest costs and faster equity building. 30-year mortgages have lower monthly payments but higher total interest costs. Choose based on your budget and financial goals.
What is PMI and when can I avoid it?
Private Mortgage Insurance (PMI) is required when you put down less than 20%. You can avoid PMI by putting 20% down, using a piggyback loan, or choosing a VA/USDA loan if eligible.