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Home Buying

Mortgage Payment Calculator

Calculate your full monthly mortgage payment including principal, interest, taxes, insurance, and HOA.

Your details

Total Monthly Payment (PITI)
$2,573/mo
Principal & Interest$2,023
Property Tax$400
Insurance$150
HOA$0
Loan Amount$320,000
Total Interest Paid$408,142
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What is the Mortgage Payment Calculator?

A mortgage payment is the recurring monthly amount you pay your lender. It typically includes four parts (PITI): principal, interest, taxes, and insurance — and sometimes HOA dues and mortgage insurance.

How it's calculated

Principal and interest are amortized over the loan term using your interest rate. Property taxes and insurance are collected into an escrow account and added to your payment monthly.

M = P × [r(1+r)^n] / [(1+r)^n − 1], where M = monthly P&I, P = loan amount, r = monthly rate, n = number of months.

Common mistakes to avoid

  • Forgetting to include taxes and insurance (PITI vs P&I).
  • Using an outdated rate from a national average instead of a quoted rate.
  • Ignoring HOA or PMI when comparing two homes.

Frequently asked questions

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