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Mortgage Payment Calculator 2026 — Full PITI Estimate
Estimate your total monthly payment — principal, interest, property taxes, homeowners insurance, and HOA dues — in one place, for any loan type you are considering.
A mortgage payment calculator estimates your monthly cost by combining principal and interest (based on loan amount, rate, and term) with property taxes, homeowners insurance, and any HOA dues, since most lenders collect all of these together in one escrowed payment. Enter your purchase price, down payment, estimated rate, and term to see a realistic total, not just the loan payment.
- ✓PITI stands for principal, interest, taxes, and insurance — the four pieces most lenders escrow together.
- ✓Property tax rates and homeowners insurance premiums vary widely by state and county, so use local estimates when possible.
- ✓A larger down payment lowers your loan amount, your monthly principal and interest, and can remove mortgage insurance on conventional loans.
- ✓Loan term changes your monthly payment and total interest paid — a 15-year term costs more per month but far less over time.
- ✓This calculator is educational; your binding numbers appear on your Loan Estimate after a full application.
What this means for you: comparing homes only by principal and interest can understate your real monthly cost by hundreds of dollars once taxes, insurance, and HOA are included.
Written by
Simply Approved Mortgages Team
Licensed Loan Officers · NMLS# 2620881
Get your personalized scenario summary
Complete the short request and a Simply Approved Mortgages Loan Officer sends back a written summary built from your own numbers: estimated payment breakdown, estimated cash to close, the loan structures that fit your file, and what documentation the file will need.
- Estimated monthly payment with taxes and insurance
- Estimated cash to close for your scenario
- Loan options your profile may fit
- Document checklist for your file
Takes about 3 minutes · Summary shown on screen and emailed to you
Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.
Scenario summary
- Purchase price entered
- $412,000
- Down payment entered
- $20,600
- Estimated loan amount
- $391,400
- Estimated cash to close
- $14,300
- Programs reviewed
- 4
Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Mortgage payment calculator
Monthly payment breakdown
Loan amortization summary (30-year term)
Assumes a fixed-rate 30-year loan held to maturity with no prepayments. Actual amortization varies with extra principal payments, escrow adjustments, PMI/MIP, and any rate resets on an ARM.
Use my estimate — see today's rates
We'll pre-fill your calculator numbers into the quote form below. A Simply Approved Mortgages Loan Officer will personally connect with you to walk through your scenario.
Pre-approval is a soft check with no SSN and no hard credit pull. Not a loan approval or commitment to lend — binding figures appear on your federally required Loan Estimate.
Turn these numbers into a real pre-approval
Continue on our secure application page. Your Simply Approved Mortgages Loan Officer will review your numbers and follow up within one business day.
No obligation. Soft-pull options may be available.*
Assumptions, methodology, and limitations
Principal and interest use the standard fixed-rate amortization formula; escrow items are added exactly as you enter them.
It excludes HOA dues, flood insurance, escrow shortages, and lender-specific pricing adjustments.
Results are illustrative estimates only and are not a quote, lock, offer, or commitment to lend. No rate, APR, or program approval is implied. Binding figures appear on your Loan Estimate. Eligibility, terms, and availability vary by borrower, property, lender, loan program, and state.
Run your scenario with a loan officer
Share your numbers and a Simply Approved Mortgages Loan Officer sends back an estimated payment, estimated cash to close, and the structures that fit your file. Educational only — not a quote, lock, offer, or commitment to lend.
What goes into a full mortgage payment
Most homebuyers focus on the loan payment — principal and interest — because that is the number tied directly to the purchase price, down payment, rate, and term. But almost every lender requires an escrow account that collects property taxes and homeowners insurance alongside that loan payment, and if the property is in a community with a homeowners association, HOA dues often come due separately as well. A mortgage payment calculator that only shows principal and interest is showing you an incomplete number.
Principal and interest: the loan math
Principal and interest is calculated from three inputs: your loan amount (purchase price minus down payment), your interest rate, and your loan term. A higher rate or a shorter term raises the monthly payment, while a longer term spreads the same loan amount over more months for a lower payment but more total interest paid. Small rate differences matter more than most buyers expect — even a quarter-point can shift a payment by tens of dollars a month on a typical loan amount.
Property taxes: local and highly variable
Property tax rates are set at the county and municipal level, not nationally, so two homes of similar price in different areas can have very different tax bills. Lenders typically estimate taxes using the local rate applied to the purchase price or assessed value, then divide by twelve to add to your monthly escrow payment. If you know the specific county, using its published rate will make your estimate far more accurate than a national average.
Homeowners insurance and how it is collected
Homeowners insurance protects the property and, by extension, the lender's collateral, which is why it is required on every mortgage. Premiums vary by state, coverage amount, deductible, and increasingly by regional risk factors like wildfire, flood, or hurricane exposure. Like property taxes, homeowners insurance is usually collected monthly through escrow and paid out by the servicer when the annual premium is due.
Want these numbers built around your file?
A short request is all it takes to get a written scenario summary back from a Simply Approved Mortgages Loan Officer. Binding figures appear on your Loan Estimate.
HOA dues and other recurring costs
If a property sits in a homeowners association, condo association, or planned community, HOA dues are a real monthly obligation that lenders factor into your debt-to-income ratio, even though the dues are usually paid directly to the association rather than through mortgage escrow. Always ask for the current HOA statement and any pending special assessments before finalizing your budget, since dues can change and assessments can add unexpected lump-sum costs.
How down payment size changes the whole picture
A larger down payment reduces your loan amount, which lowers principal and interest directly. On a conventional loan, reaching 20% down can also eliminate private mortgage insurance, removing another monthly line item entirely. On loans that require mortgage insurance regardless of down payment size, such as FHA, a bigger down payment can still shorten how long that insurance applies. Running several down payment scenarios in the calculator above shows how much each additional percentage point actually saves you monthly.
Fixed-rate versus adjustable-rate payment behavior
A fixed-rate mortgage keeps principal and interest constant for the life of the loan, so the parts of your payment that move over time are taxes, insurance, and HOA dues, which can rise with local rates and premium increases. An adjustable-rate mortgage keeps the rate fixed for an initial period, then can adjust based on market conditions and the loan's specific index and margin. If you are considering an ARM, model both the initial payment and a higher stress-test rate to understand your realistic range.
How a Simply Approved Mortgages Loan Officer helps
A payment calculator gives you a strong planning estimate, but your final rate, tax escrow, and insurance premium are confirmed once you have a specific property and a complete application. A Simply Approved Mortgages Loan Officer can review your scenario, help you compare loan programs, and generate a Loan Estimate with your binding numbers.
Figures shown are illustrative only and not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.
What you can do with this loan
Estimate a complete monthly payment across purchase price, rate, and term scenarios.
Compare how different down payment amounts change your monthly cost.
See how a 15-year versus 30-year term shifts payment and total interest.
Add estimated property taxes, insurance, and HOA to see a realistic budget number.
Prepare informed numbers before starting a pre-approval conversation.
Pros & cons — honest tradeoffs
Pros — Pros & cons
- +Gives a fast, private way to compare homes and loan scenarios before applying.
- +Shows how rate, term, and down payment each move your monthly payment independently.
- +Helps you budget for taxes, insurance, and HOA instead of being surprised at closing.
- +Useful across loan types — conventional, FHA, VA, USDA, and jumbo scenarios.
- +Free to use with no personal information required to see an estimate.
Cons / watch-outs — Pros & cons
- −Estimates depend on the accuracy of the tax rate and insurance premium you enter.
- −It cannot price mortgage insurance precisely without your credit and loan details.
- −HOA dues and special assessments must be researched separately for each property.
- −Rate shown is illustrative only, not a quote, lock, offer, or commitment to lend.
- −It does not replace the underwriting review needed for an actual approval.
Compare loan officer compensation on your mortgage quote
Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.
Compensation difference on this illustration: $3,750.
How lower compensation can help you
When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.
Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.
A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.
As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.
Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.
Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.
Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.
Worked example
How this loan actually works — a full example
A borrower purchases a $425,000 home with 10% down on a 30-year conventional loan at an illustrative 6.75% rate.
Inputs
- Purchase price
- $425,000
- Down payment (10%)
- $42,500
- Loan amount
- $382,500
- Estimated property tax
- ~$425/mo
- Estimated homeowners insurance
- ~$140/mo
Calculation
- 1Estimated principal & interest~$2,480/mo (illustrative)
- 2Estimated PMI (under 20% down)~$160/mo (illustrative)
- 3Estimated taxes + insurance~$565/mo (illustrative)
- 4Estimated total PITI~$3,205/mo (illustrative)
Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.
Purchase market update
What buyers should know this month
30-Yr Fixed · national avg
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15-Yr Fixed · national avg
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2026 buying power
Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125
PITI is the full picture
Principal, interest, taxes, and insurance together — not just the loan payment.
Local tax and insurance rates matter most
National averages can be far off from your actual county and state rates.
HOA dues count toward your debt ratio
Even though they are paid separately from your mortgage escrow.
Cost and payment tools
Run your payment, affordability, closing cost and refinance numbers
Monthly payment, affordability, closing costs, refinance break-even and early payoff, all on one screen. This page is not written for one state, so property tax, insurance and transfer or recording charges start at neutral placeholder assumptions rather than published averages — Transfer, documentary-stamp and recording charges are set by your state and county — enter your own figure, or open the state page for a sourced seed. Insurance and tax assumptions vary widely by state, county and property, so replace these starting values with quotes for your address. Every figure is an illustrative estimate, not a quote, lock, offer, approval, or commitment to lend.
Your inputs
Estimated result
- Down payment
- $20,000
- Loan amount
- $380,000
- Principal & interest
- $2,402
- Property tax
- $333/mo
- Homeowners insurance
- $167/mo
- Estimated total monthly
- $2,902/mo
Reference sources: Tax Foundation — property taxes paid as a percentage of owner-occupied housing value, NAIC — Homeowners Insurance Report, CFPB — Understanding your Loan Estimate.
Assumptions, methodology, and limitations
Principal and interest use the standard amortization formula on the loan amount you enter. This page does not target a single state, so the property tax and insurance fields start at neutral placeholder assumptions rather than published averages — replace them with figures for your own address, or open the matching state page for sourced seeds. Closing costs apply your state's transfer / documentary-stamp practice (0.00% of price used as the buyer-side seed) plus typical title, recording, appraisal, credit and prepaid escrow lines. Refinance break-even divides your entered costs by the monthly payment difference. Early payoff runs a month-by-month amortization with your extra principal.
These tools do not include mortgage insurance, funding or guarantee fees, HOA special assessments, flood or windstorm premiums, seller credits, lender credits, discount points, or county and municipal charges specific to your parcel. Statewide averages will not match any individual property. Figures are estimates only.
Illustrative only. Binding figures appear on your Loan Estimate, and terms vary by borrower, property, lender, program, and state.
Turn these estimates into real numbers
Send your scenario to a Simply Approved Mortgages Loan Officer and get a written summary back, or compare where rates sit today. Educational only — not a quote, lock, offer, approval, or commitment to lend.
Mortgage payment calculator FAQs
Answers to the most common mortgage payment calculator questions, written by licensed loan officers.
Ask SAM anything about mortgages
SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.
Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.
Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.
Trusted government resources
These independent government resources can help you research mortgage programs, rates, and your rights before you apply.
Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.
How this page connects
Where this fits in the mortgage calculators library
This page sits inside our Mortgage calculators coverage.
What most readers open next
- The main mortgage calculatorBecause principal, interest, taxes, and insurance in one place.
- The affordability worksheetBecause to work back from income rather than price.
- What PITI includesBecause the escrow half of the payment surprises most buyers.
- Closing cost detailBecause the calculator payment excludes what you bring to closing.
- Getting pre-approvedBecause to turn an estimate into a documented number.
Explore the full guide
Keep reading — the rest of the buying playbook
Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.
Guide
FHA Loan Calculator
FHA payment estimate including UFMIP and MIP.
Read the guide →Guide
VA Loan Calculator
Estimate a VA loan payment with funding fee.
Read the guide →Guide
Amortization Calculator
See your full payment schedule over time.
Read the guide →Guide
Refinance Calculator
Compare your current payment to a new rate and term.
Read the guide →Guide
PMI Calculator
Estimate conventional mortgage insurance costs.
Read the guide →Guide
Debt-to-Income Calculator
See how your new payment fits your income.
Read the guide →Internal library
Related mortgage guides across our library
Follow the next relevant guide for your scenario.
Start My Approval
Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.
What are you looking to do?
Pick one — the form adapts.Pick a loan type
Programs for buying a home.Conventional loan — 3–20% down · 620+ FICO
Tell us about your scenario
The form below is tailored to Conventional loan — only the questions and documents your program needs.
Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.
Purchase price and down payment help us size the conforming loan.
A range is enough here — no credit report is pulled and your credit is not affected.
Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.
Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.
Follow our reporting
Add Simply Approved Mortgages as a preferred source on Google
We update these guides as HUD, FHFA, VA, USDA and CFPB publish new figures. If you want our updates to show up more often when you search Google, you can mark us as a preferred source from the Top Stories carousel:
- 1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
- 2Select the icon next to "Top stories" to open the preferred sources panel.
- 3Search for Simply Approved Mortgages, tick the box, and save.
Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.
Simplify Your Mortgage Journey with These Resources
Talk To A Loan Officer
A Simply Approved Mortgages Loan Officer will personally connect with you to walk through your options.
Mortgage insights & guides
Plain-language articles to help you understand the home loan process, save on closing costs, and make confident decisions.
7 things every first-time homebuyer should know before applying
From credit prep to down payment assistance, here’s how to walk into your first mortgage application with confidence.
Using your VA loan benefit: a step-by-step guide
Eligibility, the Certificate of Eligibility, funding fees, and how to maximize zero-down purchasing power.
Where your closing costs actually go (and where you can save)
A line-by-line breakdown of the Loan Estimate and the fees that are negotiable versus fixed.
Equal Housing OpportunityMortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company RegistrationLicensing & Disclosures
Simply Approved Mortgages LLC | NMLS #2620881
Florida Branch Office (Miami, FL) | Branch NMLS #2688012
Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration
Business Phone: (877) 813-7219
Equal Housing Opportunity
Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.
Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.
Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.
Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.
Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.
Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.
Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.
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