Mortgage Calculator with Taxes and PMI
Estimate your monthly mortgage payments, including taxes, insurance, and PMI.
How to Use This Mortgage Calculator
Our mortgage calculator is designed to be simple yet comprehensive. Start by entering your home price, down payment, and loan details. The calculator will instantly update your estimated monthly payment, breaking it down into principal, interest, taxes, and insurance (PITI). You can also explore different scenarios by adjusting the interest rate, loan term, or adding extra monthly payments to see how they affect your payoff date and total interest paid.
30-Year vs. 15-Year Mortgage Calculator
30-Year Fixed Mortgage
The most popular choice for US home buyers. It offers the lowest monthly payments, making homeownership more accessible, though you will pay more in interest over the life of the loan.
- • Lower monthly payments
- • More buying power
- • Higher total interest paid
15-Year Fixed Mortgage
Ideal for those who want to pay off their home quickly and save on interest. Interest rates are typically lower than 30-year loans, but the monthly payments are significantly higher.
- • Pay off debt 2x faster
- • Thousands saved in interest
- • Higher monthly payments
What's Included in Your Monthly Payment?
A typical mortgage payment includes four main components, often referred to as PITI:
Principal
The amount borrowed that goes toward paying down your loan balance.
Interest
The cost paid to the lender for borrowing the principal amount.
Taxes
Property taxes collected by local governments to fund services.
Insurance
Homeowners insurance and PMI (if down payment is under 20%).
Mortgage Calculator with Extra Payments
One of the most effective ways to save money on your mortgage is by making extra payments toward your principal. Even a small additional monthly payment can shave years off your loan term and save you tens of thousands of dollars in interest charges.
Use the "Extra Payments" field in our calculator to see exactly how much you can save and how much faster you could be debt-free.