Mortgage Payment Calculator
Calculate your full monthly PITI payment — principal, interest, taxes, insurance, PMI, and HOA.
Loan Details
Extra Payment Simulator
Monthly Payment
$2,347
Principal vs Interest Over Time
Amortization Schedule
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Rent vs Buy
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Mortgage Calculator FAQ
What does PITI mean?
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of a complete monthly mortgage payment. Lenders use your PITI to calculate your housing expense ratio (should be under 28% of gross income).
When does PMI drop off?
By federal law (Homeowners Protection Act), lenders must automatically cancel PMI when your loan balance reaches 78% of the original purchase price. You can request cancellation at 80% LTV. PMI typically costs 0.5–1.5% of the loan amount per year.
How much does an extra $200/month save?
On a $320,000 30-year loan at 6.85%, an extra $200/month can save over $60,000 in interest and pay off your loan about 7 years early. Use the Extra Payment Simulator above to see your specific numbers.
What is the current mortgage rate in 2026?
The 30-year fixed rate has been in the 6.5–7.5% range. Check Freddie Mac's weekly Primary Mortgage Market Survey (PMMS) for the current national average.
Is property tax included in my mortgage payment?
Usually yes — most lenders require an escrow account that collects 1/12 of your annual property tax and insurance with each mortgage payment. They then pay the bills on your behalf.
This calculator is for educational purposes only. Consult a licensed mortgage professional for personalized advice.