Calculate your monthly mortgage payment including principal, interest, taxes, and insurance (PITI).
See complete amortization schedule and understand how much you'll pay over the life of your loan.
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Principal & Interest: The core loan payment that reduces your debt and covers interest charges
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Property Tax: Annual property tax divided by 12, typically 0.5-2% of home value
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Home Insurance: Required by lenders, protects your investment from damage
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HOA Fees: If applicable, monthly homeowners association fees for community amenities
20% Down (Conventional)
No PMI required, best rates, lower monthly payment
10% Down
PMI required, moderate rates, medium monthly payment
5% Down
Higher PMI, standard first-time buyer option
3.5% Down (FHA)
FHA loan, lower credit requirements, PMI for life of loan
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Increase Down Payment: Every extra $10K down saves monthly payments and interest
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Shop Interest Rates: Even 0.25% lower can save tens of thousands over 30 years
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Improve Credit Score: 720+ score gets best rates, can save hundreds monthly
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Make Extra Payments: One extra payment per year can cut years off your mortgage
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Shorter Term: 15-year mortgage has higher payment but much less total interest
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Refinance Later: If rates drop 0.75%+, refinancing can save significantly