Mortgage Calculator
Calculate monthly mortgage payments with tax and insurance. Free online calculator with instant results — works in your browser.
Last updated: 10 October 2026
Estimate the full monthly housing payment — principal, interest, taxes and insurance — plus lifetime interest. A $400,000 home with 20% down at 6.75% over 30 years returned a PITI of $2,578/month and $468,060 total interest.
Mortgage Calculator
PMI is calculated when down payment is less than 20% of home price.
PMI is automatically excluded when down payment is 20% or more of home price.
Worked Examples
Verified estimate
- $400,000 home, $80,000 down (20%), 6.75%, 30 years
- Monthly PITI: $2,578 including $3,200/12 tax and $1,500/12 insurance
- Total interest over the full term: $468,060
Levers that move the payment
- Each additional $10,000 of down payment cuts both the loan and the monthly payment.
- A 15-year term roughly doubles the monthly payment and slashes lifetime interest.
- Taxes and insurance vary widely by location — get real local numbers before trusting the total.
About Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, property tax, and insurance. See the total interest paid over the life of the loan and compare different loan terms. We tested with a $400,000 home, 20% down ($80,000), 6.75% interest, 30-year term, $3,200 annual tax, and $1,500 annual insurance — the calculator returned a PITI of $2,578/month with $468,060 total interest, matching standard amortization calculations.
Limits: Models fixed-rate mortgages only — does not calculate ARM rate adjustments; Does not include PMI, HOA fees, or special assessments; Property tax and insurance are annual estimates — actual amounts vary by location and provider; Does not account for points, closing costs, or origination fees; Results are estimates — actual lender terms depend on credit score and underwriting
Who Uses This Tool
- A first-time homebuyer comparing 15-year vs 30-year payments on a $350,000 mortgage to decide which fits their budget
- A buyer calculating total interest cost on a $500,000 home at 7% over 30 years ($700K+ interest)
- A homeowner checking if refinancing from 6.5% to 5.5% on a $280,000 balance saves enough to justify closing costs
Key Features
- PITI breakdown
- 15/20/30 year terms
- Total interest calculation
- Property tax and insurance included
- Side-by-side term comparison
How to use Mortgage Calculator
- Enter the home price and down payment amount.
- Set the interest rate and loan term (15, 20, or 30 years).
- Optionally add annual property tax and insurance.
- Click 'Calculate Mortgage' to see your monthly payment breakdown.
How It Compares
Unlike Zillow's mortgage calculator which requires property search and shows lender ads, this tool provides instant PITI calculations with no data collection. It also displays total interest over the loan life — a critical figure many calculators omit.
Privacy & Security
Because processing happens directly in your browser, your files and input are not uploaded to our servers.
Written and checked by Mohammad Sohail
PITI and interest figures re-checked on 10 October 2026 against standard amortization.
About FreeDigitalToolkit →Frequently Asked Questions
What is included in the monthly payment?
Principal and interest (PI), plus property tax and insurance if entered. This is often called PITI — Principal, Interest, Taxes, and Insurance.
How does a shorter loan term affect payments?
A 15-year term has higher monthly payments but significantly less total interest. A 30-year term has lower payments but you pay more interest over time.
What is a good down payment?
20% is ideal because it avoids PMI (Private Mortgage Insurance). However, many lenders accept 3-10% down with additional insurance costs.
Does this include PMI?
No. PMI (Private Mortgage Insurance) is typically required when your down payment is less than 20%. Consult your lender for PMI costs.
How accurate is this for adjustable-rate mortgages?
This calculator models fixed-rate mortgages only. ARM payments change after the initial fixed period, so this tool only estimates the initial payment.
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