US Mortgage Calculator
Estimate your monthly payments, taxes, and payoff date.
How to Use the US Mortgage Calculator
Buying a home is one of the biggest financial decisions you will make. Our US Mortgage Calculator helps you estimate your monthly payments accurately by factoring in not just the loan principal and interest, but also the "hidden" costs of homeownership like Property Taxes, HOA fees, and PMI.
Understanding Your PITI Payment
In the US real estate market, your monthly check is often referred to as PITI. Here is what it stands for:
- Principal: The portion of your payment that pays down the loan balance.
- Interest: The cost of borrowing money from your lender (based on your APR).
- Taxes: Property taxes charged by your local county (usually 1-2% of home value annually).
- Insurance: Homeowners insurance to protect against damage and theft.
Features of this Tool
Total Cost Analysis
Toggle "Include Taxes & Costs" to see the real out-of-pocket amount you will pay every month.
PMI Estimation
Automatically estimates Private Mortgage Insurance if your down payment is under 20%.
HOA Integration
Buying a condo or in a planned community? Add your Homeowners Association (HOA) fees easily.
Amortization Visuals
See a dynamic color-coded chart showing exactly where your money goes.
Frequently Asked Questions (FAQ)
What is a good mortgage rate in 2025?
Mortgage rates fluctuate daily based on economic factors and your credit score. Generally, a rate below the current national average (often between 6% and 7%) is considered good. Use the "Interest Rate" field in our calculator to see how small changes affect your monthly payment.
What is PMI and do I have to pay it?
PMI (Private Mortgage Insurance) is a fee charged by lenders if your down payment is less than 20% of the home's value. It protects the lender, not you. Once you build 20% equity in your home, you can usually request to have PMI removed.
Does this calculator include closing costs?
This tool focuses on your recurring monthly expenses. Closing costs are one-time fees paid when you sign the final paperwork, typically ranging from 2% to 5% of the loan amount. You can estimate these separately using the "Other Costs" field if you wish to amortize them.