Home › Mortgage & Amortization Calculator
Mortgage & Amortization Calculator
Monthly payment, total interest, and full amortization breakdown for any home loan.
📝 Loan Details
$
$
20%+ avoids PMI. Below 20% adds ~0.5–1% annually.
6.8%
$
$
📊 Payment Breakdown
TOTAL MONTHLY PAYMENT (PITI)
—
Principal + Interest + Tax + Insurance
—
Principal & Interest
—
Loan Amount
—
Total Interest Paid
—
Total Loan Cost
💡 Key InsightEnter your loan details to see the breakdown.
How Mortgage Payments Are Calculated
Loan Amount = Home Price − Down Payment
Monthly Rate r = Annual Rate ÷ 12
Monthly P&I = Loan × [r(1+r)ⁿ] ÷ [(1+r)ⁿ−1]
PITI = P&I + (Property Tax ÷ 12) + (Insurance ÷ 12)
Monthly Rate r = Annual Rate ÷ 12
Monthly P&I = Loan × [r(1+r)ⁿ] ÷ [(1+r)ⁿ−1]
PITI = P&I + (Property Tax ÷ 12) + (Insurance ÷ 12)
Frequently Asked Questions
What is PITI? ▼
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of your total monthly housing payment. Lenders use PITI to calculate your debt-to-income ratio when qualifying you for a mortgage.
Is a 15-year or 30-year mortgage better? ▼
A 15-year mortgage saves enormous interest (often 40 to 50% less total cost) but requires higher monthly payments. A 30-year has lower payments, giving flexibility. Run both scenarios to compare with your numbers.
How does a larger down payment help? ▼
A larger down payment reduces your loan amount, lowering monthly payment and total interest. Putting 20% or more also eliminates PMI, saving 0.5 to 1% of the loan value annually.
⚠️ Estimates only. Actual rates, taxes, and insurance vary. Not financial advice.