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Mortgage Payment Calculator

Work out your full monthly house payment (principal, interest, property tax, homeowners insurance, PMI and HOA dues), see when PMI drops off, compare 15-, 20- and 30-year fixed loans, and see what biweekly payments save.

Updated November 4, 2026. Free, no sign-up; everything runs in your browser and nothing you type is stored.

Mortgage payment calculator (PITI)

Home price ($)Down payment (%)Interest rate (%)Term

Property tax (% of price a year)Homeowners insurance ($/year)HOA ($/month)PMI (% of loan a year, if under 20% down)

Total monthly house payment

–

–Principal & interest

–Property tax

–Insurance

–HOA

–PMI

–Loan amount

–Total interest

–Total cost incl. down payment

15 vs 20 vs 30-year fixed

30-year rate (%)20-year rate (%)15-year rate (%)

Biweekly payments

–Paid off in (half payment every 2 weeks)

–Interest saved

Mtg calc: the quick version

Mtg calc is shorthand for this mortgage payment calculator: enter the price, down payment, rate and term above and the total monthly payment updates as you type.

Monthly mortgage payment calculator: what's in PITI

Your house payment is usually PITI: principal and interest on the loan, property taxes and homeowners insurance collected into escrow, plus PMI if you put down less than 20% on a conventional loan and any HOA dues. Principal and interest: M = L × i ÷ (1 − (1 + i)⁻ⁿ), where L is the loan, i the monthly rate (rate ÷ 12) and n the number of payments.

Example: a $400,000 home with 10% down is a $360,000 loan. At 6.5% for 30 years principal and interest is $2,275.44; with 1.1% property tax ($366.67), $150 insurance and 0.5% PMI ($150), the total house payment is $2,942.11.

House note calculator, house payment calculator, home payment calculator

"House note" is an older name for the mortgage payment. Whatever you call it, compare the full PITI figure, not just principal and interest, because taxes and insurance can add 25% or more. Taxes and insurance rise over time, so the escrow part of your payment usually changes once a year after the servicer's escrow analysis.

When does PMI come off?

On a conventional loan, you can ask to cancel PMI when the balance reaches 80% of the home's original value, and the lender must drop it automatically at 78% if you're current (Homeowners Protection Act). The calculator counts the months until scheduled payments reach 78%. FHA mortgage insurance works differently; see the FHA and VA mortgage calculator.

Fixed mortgage calculator: 15 vs 30 years

A 15-year loan has a higher payment but usually a lower rate and far less interest. On $360,000, 30 years at 6.5% costs about $459,000 of interest; 15 years at 5.75% costs about $178,000. Biweekly payments (half the monthly payment every two weeks) make 13 full payments a year and cut about 6 years off a 30-year loan at 6.5%.

Basic mortgage calculator: 2026 loan limits

The 2026 conforming loan limit for a one-unit home is $832,750 in most of the US and up to $1,249,125 in high-cost areas (FHFA). Larger loans are jumbo loans, which often need more down and stronger credit.

Calculate house payment, compute mortgage payment or figure out mortgage payment: one tool

Whether you want to calculate house payment totals, compute mortgage payment amounts, determine mortgage payment limits or simply figure out mortgage payment costs before you shop, this is the home loan monthly payment calculator to use: it works as a house loan monthly payment calculator, a house mortgage payment calculator, a monthly mortgage loan payment calculator and a home loan payment estimator in one. People also search for a "best mortgage calculator" or "best mortgage payment calculator"; the best one is the one that includes taxes, insurance and PMI, not just principal and interest. A simple mortgage payment calculator that ignores escrow can understate the payment by 20% or more.

Calculating a home loan step by step (the simple mortgage formula): monthly rate = annual rate ÷ 12; payments = years × 12; payment = loan × rate ÷ (1 − (1 + rate)^−payments). To figure mortgage payment changes from rates, use it as a mortgage rate calculator, mortgage rate payment calculator, mortgage loan rate calculator or home interest rate calculator: change the rate box and compare. As a mortgage price calculator (or mortgage payment calculator by payment), enter the payment you can manage in the home affordability calculator to work backward to a price. You can't calculate mortgage rate offers here (lenders price them), but you can compare them. Mtg payment calculator, calculate mortgage payment calculator and home mortgage estimator are other names for the same tool, and the yearly table doubles as a mortgage calendar of interest and principal. It ignores mortgage closing costs, which the closing cost calculator covers.

Common questions

How do I calculate my mortgage payment?

Principal and interest = loan × monthly rate ÷ (1 − (1 + monthly rate)^−months), then add monthly property tax, insurance, PMI and HOA.

What is the monthly payment on a $360,000 mortgage?

$2,275.44 principal and interest at 6.5% for 30 years, about $2,942 with typical taxes, insurance and PMI.

What is a house note?

Another name for the monthly mortgage payment.

When is PMI removed?

You can request it at 80% of the original value; it ends automatically at 78% on a conventional loan.

What is the 2026 conforming loan limit?

$832,750 for a one-unit home in most counties, up to $1,249,125 in high-cost areas.

Sources

General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.