Mortgage Calculator
Calculate your monthly mortgage payment including taxes and insurance
About mortgage calculations
How much house can I afford?
A common rule is to keep your total housing payment under 28% of your gross monthly income. Use this calculator to find a payment that fits your budget, then work backwards to find the home price.
How does the down payment affect my payment?
A larger down payment reduces your loan amount, lowers your monthly payment, and eliminates PMI (private mortgage insurance) if you put down 20% or more.
What is included in a mortgage payment?
A full mortgage payment (PITI) includes Principal, Interest, property Taxes, and homeowners Insurance. This calculator includes all four when you enter tax and insurance amounts.
Is a 15-year or 30-year mortgage better?
A 15-year mortgage has higher monthly payments but you pay far less total interest and build equity faster. A 30-year mortgage has lower payments but costs significantly more over time.