Mortgage Calculator

Calculate mortgage payments and amortization schedule
This free online mortgage calculator runs in your browser and is part of our Calculators collection.

🏠 Mortgage Calculator

Calculate monthly mortgage payments and view the full amortization schedule

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Instant In-Browser Execution Runs locally in JavaScript without wait times or server delays.
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100% Privacy & Security Your inputs and files are never stored or logged on remote servers.
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Cross-Device Responsive Fully optimized for mobile smartphones, tablets, and desktop displays.
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100% Free Forever No subscription fees, no signups, and no software installations.

How to Use the Online Mortgage Calculator

1 Enter Home Value & Down Payment

Input the purchase price of the home and your down payment in dollars or percentage (e.g. 20%).

2 Set Interest Rate & Term

Enter the fixed annual interest rate and choose the term (30-year or 15-year fixed).

3 Add Taxes, Insurance & PMI

Optionally enter annual property tax, homeowners insurance premium, and monthly HOA fees or Private Mortgage Insurance (PMI).

4 Inspect Total Monthly PITI Payment

View the complete monthly housing cost breakdown (Principal, Interest, Taxes, Insurance) and visual payment distribution chart.

Frequently Asked Questions

Common questions about using this free online mortgage calculator.

What is PITI in a mortgage calculation? ▾
PITI stands for Principal, Interest, Taxes, and Insurance. It represents the true total monthly out-of-pocket housing expense paid by homeowners.
What is Private Mortgage Insurance (PMI) and when is it required? ▾
Lenders typically require PMI if your down payment is less than 20% of the home's purchase price. PMI protects the lender in case of default and usually costs 0.5% to 1.5% of the loan amount annually until your equity reaches 20%.
What is the financial advantage of a 15-year versus a 30-year mortgage? ▾
A 15-year mortgage has higher monthly payments but typically offers lower interest rates and saves tens of thousands of dollars in total cumulative interest, building home equity twice as fast.
How are property taxes escrowed into monthly payments? ▾
Lenders divide your estimated annual local municipal property tax by 12 and collect that amount monthly in an escrow account to pay taxes on your behalf when due.

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