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Mortgage Calculator
Full PITI mortgage calculator — principal, interest, taxes, insurance.
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Frequently asked questions
What is PITI?
Principal, Interest, Taxes, and Insurance — the four components of a typical monthly mortgage payment in the US. Lenders escrow taxes and insurance along with the loan payment.
How much down payment should I make?
Conventional loans require at least 5% (20% to avoid PMI). FHA loans allow 3.5%, VA loans 0%. A 20% down payment cuts PMI, reduces total interest, and lowers monthly payment.
What is a good mortgage rate?
US 30-year fixed rates have ranged from 3% (2020–21) to 7.5% (2023–24). Your rate depends on credit score (760+ gets best), down payment size, and loan type.
Is a 15-year mortgage better than 30-year?
A 15-year loan costs less in total interest (often 50% less) but has a higher monthly payment. 30-year gives flexibility; 15-year builds equity faster.