Mortgage calculator

Principal and interest on the loan itself, plus property tax, homeowners insurance, and HOA dues if you enter them. Together these four pieces make up what most lenders call PITI, the real monthly cost of owning the home, not just the loan.

Lenders price in your specific credit score, loan program, points, and local tax and insurance rates, which this calculator estimates rather than looks up. Use this to compare scenarios quickly, then confirm the exact number with a lender before you commit.

Either works, the toggle converts automatically. Property tax bills usually arrive yearly and insurance is often quoted yearly too, so entering the annual figure and letting the tool divide it by twelve is usually the easiest way to stay accurate.

A longer term, 30 years instead of 15 for example, spreads the same loan over more payments, so each one is smaller. You pay more total interest over a longer term, so it is a real tradeoff between monthly affordability and total cost.

Yes, a bigger down payment means a smaller loan, so both the principal and interest portion shrink. It can also remove the need for private mortgage insurance once you reach 20 percent down, which lowers your payment further.