👉 Try the Mortgage Calculator →
Buying a home is the single largest financial decision most people will ever make. Yet millions of buyers walk into a purchase only knowing the listing price — not the real monthly cost. Our free Mortgage Calculator fixes that instantly.
What It Calculates
Enter your home price, down payment amount, interest rate, and loan term (we support 10, 15, 20, and 30-year fixed, plus a custom option), and our calculator outputs:
- Monthly PITI Payment — Principal, Interest, Taxes, and Insurance all in one number
- Monthly Principal & Interest — The core payment before taxes and insurance
- Total Interest Paid — The true cost of borrowing over the life of the loan
- Total Cost of the Home — Everything you’ll actually pay, not just the listing price
The Amortization Schedule
Most mortgage calculators stop at giving you a single number. Ours goes further with a full month-by-month amortization table showing how much of each payment goes to principal versus interest. In the early years of a 30-year mortgage, over 80% of your payment can be interest — our schedule makes that painfully (and usefully) visible.
Property Tax and Insurance Support
Enter your estimated annual property tax and homeowner’s insurance, and the calculator folds them directly into your monthly payment. This is the number you’ll actually owe every month — not the artificially low P&I-only figure many calculators show.
20+ Currency Support
While the tool defaults to USD for U.S. users, it supports 20+ currencies including GBP, EUR, CAD, AUD, INR, PKR, AED, and more. Switch currency and all results update instantly — no recalculation needed. This makes it equally useful whether you’re buying in Chicago, London, Dubai, or Karachi.
Who Should Use This Calculator?
- First-time homebuyers comparing affordability before starting house hunts
- Current homeowners considering a refinance
- Real estate investors running quick property analysis
- Anyone trying to understand how rate changes affect their payment
Pro Tip: The 28% Rule
Financial advisors generally recommend your total monthly housing payment (PITI) should not exceed 28% of your gross monthly income. Use our calculator to reverse-engineer the maximum home price you can responsibly afford based on your income — not just what a lender will approve.
Example: A $400,000 home with 10% down at 7.1% over 30 years, with $5,000/year in taxes and $1,800/year in insurance, results in a total monthly PITI of approximately $2,847. Total interest paid over 30 years: $278,000+. That’s context no listing price tells you.
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