Free tool
Mortgage payment calculator
Enter a price, down payment, rate and term to see the estimated monthly payment with tax, insurance, HOA and PMI, then print or save a one-page handout for your client. Everything stays in your browser — nothing you type is sent or stored.
Like quick, simple tools? Kadapt turns listing photos into short video reels.
How the monthly payment is worked out
The loan is the home price less the down payment. Principal and interest come from the standard amortization formula for the rate and term you enter. Property tax is the price times the yearly tax percentage, divided by 12; insurance is the yearly amount divided by 12; HOA dues are added as entered. If the down payment is under 20%, a PMI estimate (the loan times the PMI rate, divided by 12) is added until the balance falls to 80% of the original price. The total is the estimated monthly payment at the start of the loan.
Using it with buyers
- Run two or three scenarios: the price they love, a lower price, and a bigger down payment, and print one sheet for each.
- Use the listing’s tax figure and a real insurance quote where you can; say plainly that the rest are estimates.
- Show how PMI changes the picture under 20% down, and when it could drop off.
- Send them to a licensed lender for a Loan Estimate: the sheet is for the conversation, not the decision.
What the estimate leaves out
It does not know about points, lender fees, mortgage insurance on government-backed loans, special assessments, escrow cushions, or taxes that change after a sale. It is a planning aid, not a loan offer, and nothing here is financial advice.
Estimating the cash a buyer needs on closing day? Use the home buyer closing cost estimator. Helping a seller see their side with the seller net sheet calculator, or hand buyers the buyer home tour checklist. More in the free tools for real estate agents.
See the full payment schedule and what extra payments save with the mortgage amortization calculator. Check ratios and savings with the debt-to-income ratio calculator and the down payment savings calculator.
Related tools for buyers and investors: refinance break-even calculator, home equity calculator, home affordability calculator, rent vs buy calculator rental property cap rate calculator, first-time home buyer checklist and home selling checklist.
Guide: How to explain closing costs to first-time buyers.
Guide: How to explain debt-to-income ratio to home buyers.
Related: PMI calculator, FHA loan calculator, VA loan calculator and property tax calculator.
Common questions
What does PITI mean?
PITI stands for principal, interest, taxes and insurance: the four parts of a typical monthly mortgage payment. Principal pays down the loan, interest is the lender’s charge, and property tax and homeowners insurance are usually collected by the lender into an escrow account and paid on the owner’s behalf. This calculator also adds HOA dues and estimated mortgage insurance (PMI) when they apply.
How is the monthly principal and interest worked out?
The loan amount is the home price less the down payment. With a monthly rate r (the annual rate divided by 12) and n monthly payments, the payment is loan × r ÷ (1 − (1 + r)^−n). At a 0% rate the loan is simply divided by the number of payments. The calculator does this for you and shows the result as the first line of the sheet.
When is PMI added?
Private mortgage insurance is commonly required on conventional loans when the down payment is under 20% of the price. This calculator adds a PMI estimate when the down payment is below 20%, using the yearly rate you enter as a percentage of the loan, and shows the month the balance first falls to 80% of the original price, when PMI can often be removed. Real PMI depends on credit score, loan type and lender, and government-backed loans use different insurance, so ask the lender for a quote.
What should I enter for property tax and insurance?
Property tax is entered as a yearly percentage of the home price, and insurance as a yearly dollar amount. Both vary a lot by location and by home, so use the listing’s tax figure and an insurance quote where you have them. The defaults are only placeholders to show how the sheet works.
Is this a loan offer or a quote?
No. It is an estimate built only from the figures you enter. It is not a loan offer, a pre-approval, a Loan Estimate or advice. Actual rates, fees, mortgage insurance and escrow amounts depend on the lender, the borrower and the property, and will differ. Ask a licensed lender for a Loan Estimate.
Does the calculator save what I enter?
No. The prices, names and contact details stay in your browser and are not sent to Kadapt, stored, or used in analytics. The only thing counted is that someone pressed the print or image button, never what was on the sheet.
Can I share the result with a client?
Yes. Add the client’s name and your contact details, then print the sheet or save it as a PDF from the print dialog, or download it as a PNG image to send in a message. The sheet carries an estimate-only note so clients know it is not a loan offer.