Mortgage Calculator

A monthly mortgage payment is more than principal and interest. Many homeowners also pay property taxes, homeowner's insurance, private mortgage insurance...

Modify the values and click the Calculate button to use.
Results

Enter values and click Calculate.

Schedule

Related: House Affordability CalculatorRent CalculatorAmortization CalculatorMortgage Payoff Calculator

Introduction

A monthly mortgage payment is more than principal and interest. Many homeowners also pay property taxes, homeowner's insurance, private mortgage insurance (PMI), and HOA fees. This calculator separates PITI components so you see the full housing payment lenders evaluate.

Understanding Your Mortgage Payment

A monthly mortgage payment is more than principal and interest. Many homeowners also pay property taxes, homeowner's insurance, private mortgage insurance (PMI), and HOA fees. This calculator separates PITI components so you see the full housing payment lenders evaluate.

Principal and Interest

Principal is the loan balance you repay; interest is the lender's charge for borrowing. Early payments are mostly interest; later payments shift toward principal. The amortization schedule shows that shift year by year.

PMI and 20% Equity

Conventional loans with less than 20% down often require PMI until equity reaches 20%. Leave PMI blank to auto-estimate when down payment is below 20%, or enter a known monthly PMI quote from your lender.

Fixed vs Adjustable Rates

Fixed-rate mortgages lock the same rate for the full term—common for 15- and 30-year loans. Adjustable-rate mortgages (ARMs) start lower but can reset higher. Model fixed payments here; compare ARM scenarios with lender disclosures.

Before You Apply

Get pre-approved to know your price range. Pair this tool with the House Affordability Calculator and Debt-to-Income Ratio Calculator. Read mortgage basics for first-time buyers.

Related Tools

Amortization Calculator, Mortgage Payoff Calculator, Refinance Calculator, Down Payment Calculator.

How It Works

  1. Enter your amounts, rates, and term in the form. Use the same units shown in the labels (dollars, years, percent).
  2. Click Calculate to run the Mortgage Calculator engine. Invalid or empty required fields show a clear error message.
  3. Review the summary cards for the key outputs. Expand schedules or tables when available for period-by-period detail.
  4. Copy, print, or share your scenario link. Reset the form anytime to start a fresh comparison.

Formula

Monthly payment (amortizing loan): M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly rate (APR/12), and n is number of months.

FAQ

Yes. CDCalculator.io provides the Mortgage Calculator at no charge for personal and educational use. Results are estimates and not financial advice.

The tool uses standard formulas lenders and planners use in spreadsheets. Your bank may round differently or include fees not modeled here.

Use the Copy Results and Print buttons on the calculator panel after you run a scenario. You can also share the page link with colleagues.

Focus on realistic rates, terms, and any extra payments or contributions. Small changes in APR or time horizon often move outcomes more than rounding.

No. Use this calculator to explore scenarios, then consult a qualified advisor or lender for decisions about mortgage & real estate products.