Mortgage Calculator USA - Monthly Payment, PITI, PMI & Amortization Schedule

Enter the home price, down payment, mortgage interest rate, and loan term. The calculator uses the standard fixed-rate mortgage formula to estimate principal and interest, then adds property tax, homeowners insurance, PMI, and HOA dues to show a US-style monthly housing payment. This gives you a more realistic PITI estimate than a principal-and-interest-only calculator.

PITI stands for principal, interest, taxes, and insurance. Principal is the amount that reduces your loan balance, interest is the lender charge, property tax is usually collected through escrow, and homeowners insurance protects the property. Many US borrowers also need to include PMI if the down payment is below 20%, plus HOA dues if the home is in a community association.

A useful first estimate is to compare the full monthly housing payment against your monthly gross income and other debt payments. Lenders often look at debt-to-income ratios, but the exact limit depends on your credit, loan program, savings, and risk profile. Use the calculator to test different home prices, down payments, and rates so you can see how taxes, insurance, PMI, and HOA fees change the total payment.

Use the property tax field for either the annual tax rate as a percent of home value or a yearly dollar amount from a county tax estimate. Add homeowners insurance as an annual or monthly amount. The calculator converts those costs to monthly amounts and adds them to principal and interest. This is closer to the escrow payment many US homeowners make each month.

Private mortgage insurance is commonly required on conventional loans when the down payment is less than 20%, meaning the loan-to-value ratio is above 80%. This calculator automatically includes PMI only when the calculated loan-to-value is above 80%. It also estimates the month when the balance reaches 80% of the original home price, which is a common reference point for PMI removal discussions.

The principal and interest math works for any fixed-rate loan, but government-backed loans may include different mortgage insurance, funding fees, or guarantee fees. FHA loans use mortgage insurance premiums, VA loans may include a funding fee, and USDA loans may include upfront and annual guarantee fees. For those loans, use the PMI field as a rough monthly add-on or confirm the exact number with a lender.

The amortization schedule breaks each monthly principal-and-interest payment into interest paid and principal paid. Early in the loan, more of the payment goes to interest because the balance is high. Over time, the interest portion falls and the principal portion rises. The calculator shows the first year and annual checkpoints in the table, and you can download the full month-by-month schedule as a CSV file.

Use the rate from a current lender quote or preapproval if you have one. If you are still shopping, use a realistic market estimate for your credit profile, loan type, down payment, and location. Mortgage rates change frequently and can vary by points, fees, and lender, so the calculator is best used for planning scenarios rather than as a rate quote.

The calculator runs in your browser and does not send your home price, income assumptions, or loan information to a server. It stores the latest inputs in local browser storage so the page can remember your scenario if you refresh. Use Reset to clear the saved scenario from this browser.