Finance tool
Mortgage calculator
Enter home price, down payment, rate, and term — see monthly P&I, full PITI, total interest, and the amortization reality.
Start with the free manual tool. If you want the real document view after that, analyze a statement PDF.
Free tool
What will this mortgage actually cost?
Enter home price, down payment, term, and rate. The calculator computes monthly P&I, full PITI (with optional tax / insurance / HOA), total interest over the loan, and the first vs final year amortization split.
Loan terms
$90,000 at 20%.
15, 20, or 30 are most common.
APR on the loan. Use a pre-approval letter if you have one.
Monthly escrow (optional)
Annual property tax ÷ 12. US average ~1.1% of home value.
Annual premium ÷ 12. Budget 0.3-0.5% of home value.
Monthly HOA. Zero if not applicable.
Principal + Interest + Taxes + Insurance (+ HOA). The full monthly housing cost lenders evaluate for DTI.
Principal + interest only, no escrow.
After $90,000 down.
Over 30 years at 6.5%.
Principal + all interest paid.
Year 1 interest: $23,282 (mostly interest).
Final year interest: $938 (mostly principal).
This is why early extra principal payments save so much more than late ones.
Natural next step
Is the PITI actually affordable?
A mortgage calc tells you what the payment would be. Bank-statement analysis tells you what you're already spending — which is what determines whether the payment is actually affordable. Upload a recent statement to validate.
What it gives you
Fast enough for a first pass
Each tool is intentionally narrow. The job here is a clean estimate, not a fake replacement for a full statement analysis.
PITI, not just P&I
Full PITI breakdown — principal, interest, taxes, insurance, HOA — not just P&I.
Standard amortization math
Uses the standard amortization formula so your numbers match what your lender will show.
Year-1 vs final-year context
Shows year-1 vs final-year interest split — the single best argument for paying extra principal early.
When it's useful
Standard mortgage amortization with PITI plus year-1 / final-year interest comparison.
First-time home buyers
See the full monthly cost, not just P&I. PITI is what lenders use for qualification and what actually comes out of your bank account.
Anyone comparing 15 vs 30-year loans
Run the same home price at 15-year and 30-year terms. The monthly payment is higher on 15-year, but total interest is dramatically lower.
People considering extra principal payments
The year-1 vs final-year breakdown makes the case concrete: early extra dollars save the most because they prevent decades of future interest.
Self-employed applicants using bank-statement loans
Bank-statement mortgage underwriting uses statement-based income. Pair this calc with our DTI + bank-statement loan calculators.
Deeper context
How to actually use a mortgage calculator
A few habits that turn this from a toy into a real tool.
Use real pre-approval rates, not rate-shopping teaser rates
Online rates assume 740+ credit and 20% down. If that's not you, request a custom quote from 2-3 lenders. The difference between 6.25% and 6.75% on a $360k loan is $120/month — $43k over 30 years.
Always include PITI, not just P&I
Tax and insurance can add $500-1,000+ to monthly payments in many US markets. If your DTI looks comfortable on P&I alone but cramped on PITI, you're at qualification risk.
Run 15, 20, and 30-year side by side
A 15-year costs 60-70% more per month but saves 50-60% in total interest. A 20-year is a middle-ground many overlook.
Deeper context
Common mortgage math mistakes
Three patterns that inflate your expectations or hide real costs.
Forgetting PMI
Under 20% down on conventional = PMI. It's an extra ~0.5-1.0% of loan balance annually. Add it to the 'insurance' line here so your PITI is realistic.
Using asking price instead of expected purchase price
In competitive markets you pay over ask; in buyer's markets, below. Run both scenarios so you have a realistic range.
Ignoring rate-lock expiration
Pre-approval rate locks typically expire in 30-90 days. If your search stretches, your rate may reset. Rerun the calc periodically.
FAQ