Mortgage Payment Calculator
$
%
%
years
%
%
Understanding Your Mortgage Payment
Your monthly mortgage payment typically consists of four main components, often referred to as PITI:
- Principal: The amount that goes toward paying off your loan balance
- Interest: The cost of borrowing money from your lender
- Property Taxes: Annual property taxes divided into monthly payments
- Insurance: Homeowner's insurance and possibly PMI if down payment is less than 20%
Note: This calculator provides estimates based on the information you enter. Actual loan terms and payments may vary based on your credit score, location, and other factors. Consult with a mortgage professional for accurate rates and terms.