Mortgage Calculator | calcu.online
Estimate monthly payments, P&I, taxes, insurance, and view amortization.
Calculator Inputs
Results
Payment Summary
| Breakdown | Monthly | Annual | Total |
|---|---|---|---|
| Principal & Interest | $2,069.56 | $24,834.74 | $745,042.14 |
| Property Tax | $400.00 | $4,800.00 | $144,000.00 |
| Home Insurance | $125.00 | $1,500.00 | $45,000.00 |
| Total Payment | $2,594.56 | $31,134.74 | $934,042.14 |
Loan Details
Amortization Schedule
| Year | Principal | Interest | Ending Balance |
|---|---|---|---|
| 1 | 3,428.69 | 21,406.04 | 316,571.31 |
| 2 | 3,666.41 | 21,168.33 | 312,904.90 |
| 3 | 3,920.60 | 20,914.14 | 308,984.30 |
| 4 | 4,192.42 | 20,642.32 | 304,791.88 |
| 5 | 4,483.08 | 20,351.66 | 300,308.81 |
| 6 | 4,793.89 | 20,040.85 | 295,514.92 |
| 7 | 5,126.25 | 19,708.49 | 290,388.67 |
| 8 | 5,481.65 | 19,353.09 | 284,907.02 |
| 9 | 5,861.70 | 18,973.04 | 279,045.32 |
| 10 | 6,268.09 | 18,566.65 | 272,777.23 |
| 11 | 6,702.66 | 18,132.08 | 266,074.58 |
| 12 | 7,167.35 | 17,667.39 | 258,907.22 |
| 13 | 7,664.27 | 17,170.47 | 251,242.96 |
| 14 | 8,195.63 | 16,639.11 | 243,047.33 |
| 15 | 8,763.84 | 16,070.90 | 234,283.49 |
| 16 | 9,371.43 | 15,463.30 | 224,912.06 |
| 17 | 10,021.16 | 14,813.58 | 214,890.90 |
| 18 | 10,715.92 | 14,118.81 | 204,174.97 |
| 19 | 11,458.86 | 13,375.88 | 192,716.11 |
| 20 | 12,253.31 | 12,581.43 | 180,462.81 |
| 21 | 13,102.83 | 11,731.91 | 167,359.98 |
| 22 | 14,011.25 | 10,823.49 | 153,348.73 |
| 23 | 14,982.65 | 9,852.08 | 138,366.07 |
| 24 | 16,021.40 | 8,813.34 | 122,344.67 |
| 25 | 17,132.17 | 7,702.57 | 105,212.50 |
| 26 | 18,319.95 | 6,514.79 | 86,892.56 |
| 27 | 19,590.07 | 5,244.67 | 67,302.49 |
| 28 | 20,948.25 | 3,886.49 | 46,354.23 |
| 29 | 22,400.60 | 2,434.14 | 23,953.63 |
| 30 | 23,953.63 | 881.10 | 0.00 |
Understanding Your Mortgage Estimate with Our Online Calculator
Our free online mortgage calculator is the perfect starting point for your home-buying journey. Whether you're a first-time buyer exploring your options or a seasoned investor planning your next move, this tool simplifies complex financial figures into a clear, understandable monthly payment. It helps you budget effectively by providing a detailed estimate of your total housing cost, empowering you to shop for a home with confidence.
How Our Calculator Works
Using the calculator is straightforward. To get the most accurate monthly house payment estimate, simply enter the following details:
- Home Price: The total purchase price of the property.
- Down Payment: The amount you're paying upfront, either as a percentage or a dollar amount.
- Loan Term: The duration of your loan, typically 15 or 30 years.
- Interest Rate: The annual interest rate you expect to get from your lender.
Our tool goes beyond a simple principal and interest calculation. By including fields for property taxes, home insurance, and private mortgage insurance (PMI), it calculates your full PITI (Principal, Interest, Taxes, Insurance) payment. This is the same metric lenders often use to assess your application, giving you a highly realistic estimate of your monthly housing expenses. The results panel will instantly show you a breakdown of these costs and the total interest you'll pay over the life of the loan.
Why Use This Calculator?
This online mortgage calculator is invaluable in several real-world scenarios:
- Early-Stage Home Shopping: Get a quick idea of what home prices fit comfortably within your monthly budget before you start seriously looking.
- Comparing Loan Offers: Easily see how different interest rates or loan terms from various lenders will affect your monthly payment and total cost.
- Financial Planning: By understanding your complete housing cost, you can better manage your overall financial health. Before you get too far, it's wise to check your debt-to-income (DTI) ratio, as this is a key factor for lenders.
Advantages of Our Free Online Tool
Forget complicated spreadsheets or expensive financial advisors for initial planning. Here’s why our calculator is your best first step:
- Speed & Convenience: Get instant estimates anytime, anywhere, right from your phone or desktop.
- Accuracy: Our tool uses standard mortgage formulas to ensure your PITI estimate is reliable for budgeting purposes.
- Scenario Planning: Easily adjust numbers to see how a larger down payment or a shorter loan term can save you thousands in interest. You can dive deeper into these scenarios with our full amortization schedule tool.
- Completely Free: There are no sign-ups, no fees, and no hassle. Just a simple, powerful tool at your service. If you already own a home, you might also be interested to see if you can save money if you refinance your current mortgage.
Frequently Asked Questions
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the four main components of a typical monthly mortgage payment. Our calculator estimates all of these to give you a complete picture of your total housing cost.
What is a good down payment for a house?
While 20% is often recommended to avoid Private Mortgage Insurance (PMI), many modern loan programs (like FHA loans) allow for much smaller down payments, sometimes as low as 3.5%. A larger down payment reduces your loan amount and can result in a lower monthly payment.