Mortgage Calculator Guide: Calculate Your Monthly Payment
Understanding how to calculate your mortgage payment is essential for budgeting and comparing loan options. Learn about principal, interest, taxes, insurance, PMI, and how amortization works.
What's Included in Your Mortgage Payment?
A complete mortgage payment (PITI) includes Principal, Interest, property Taxes, and Insurance. Some buyers also pay PMI (Private Mortgage Insurance) and HOA fees.
How Amortization Works
Early in your loan, most of your payment goes toward interest. Over time, more goes toward principal, building equity in your home.