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Mortgage Calculator
Calculate your exact monthly payment — principal, interest, taxes, and insurance all in one place.
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How to Use This Mortgage Calculator
This calculator estimates your monthly mortgage payment including:
- Principal: The amount that goes toward paying down your loan balance
- Interest: The cost of borrowing money from your lender
- Property Tax: Annual property taxes divided by 12 months
- Insurance: Homeowners insurance divided by 12 months
- PMI: Private Mortgage Insurance (if down payment is less than 20%)
Understanding Your Numbers
The 28/36 rule is a common guideline for home affordability:
- Your mortgage payment (PITI) should be no more than 28% of your gross monthly income
- Your total debt payments should be no more than 36% of your gross monthly income
Use our Affordability Calculator to see how much house you can realistically afford.
Next Steps
Now that you have your estimated payment, here's what most buyers do next: