Mortgage Calculator
Estimate your monthly mortgage payment including principal, interest, taxes and insurance (PITI). View amortization schedule and total loan cost.
Compare Today’s Mortgage Rates
Get personalized rate quotes from multiple lenders. See rates as low as 6.5% APR for qualified buyers.
Get Free Rate Quotes →Loan Details
Taxes & Insurance (Optional)
Current Mortgage Rate Comparison
*Rates shown for comparison only. Actual rates depend on credit score, location, and lender.
| Lender Type | 30-Year Fixed | 15-Year Fixed | Action |
|---|---|---|---|
| National Average | 7.05% | 6.45% | View Rates → |
| Credit Unions | 6.85% | 6.25% | Compare → |
| Online Lenders | 6.95% | 6.35% | Compare → |
Refinance Your Mortgage?
See how much you could save by refinancing. Lower your rate or cash out equity for home improvements.
Check Refinance Rates →How to Calculate Mortgage Payments
Mortgage payments include four components: Principal (loan amount), Interest (cost of borrowing), Taxes (property tax), and Insurance (homeowners insurance) – often called PITI. Use 20% down payment to avoid Private Mortgage Insurance (PMI).
Fixed vs Adjustable Rates
Fixed-rate mortgages maintain the same interest rate for the entire loan term, providing predictable payments. Adjustable-rate mortgages (ARMs) start with lower rates that change periodically, suitable if you plan to sell within 5-7 years.
Debt-to-Income Ratio
Lenders typically require your total monthly debts (including the new mortgage) to be less than 43% of your gross monthly income. Use our calculator to ensure your payment fits within this guideline before applying.
When Should You Refinance?
Consider refinancing when rates drop 1-2% below your current rate, or if you need to switch from ARM to fixed-rate. Calculate your break-even point: monthly savings divided by closing costs.