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Simple Calcs

Mortgage Payment Calculator

Calculate your monthly mortgage payment including principal, interest, taxes, and insurance (PITI).

$
%

$80,000

%

Include taxes, insurance, PMI, and HOA fees

No PMI required - down payment is 20% or more

Property Tax: $400/month or $4,800/year
(1% of home value annually)

Home Insurance: $100/month or $1,200/year
(0.65% of home value annually)

Enter Loan Details

Enter your loan details in the form to calculate your monthly payments.

Understanding Your Mortgage Payment

What's Included

  • Principal: The loan amount you're paying back
  • Interest: The cost of borrowing money
  • Property Tax: Annual tax divided by 12 months
  • Insurance: Homeowner's insurance premium
  • PMI: Required if down payment is less than 20%

Money-Saving Tips

  • Put down 20% to avoid PMI
  • Shop around for the best interest rates
  • Consider a shorter loan term to save on interest
  • Make extra principal payments when possible
  • Review your property tax assessment annually

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