Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
Mortgage payment and PITI calculator for loan officers.
The full monthly payment on a price: principal and interest, taxes, insurance, mortgage insurance and HOA dues, with the APR beside the rate. Or start from the payment the borrower wants and find the price, rate or down payment that gets there.
Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.
APR counts every closing cost and point as a finance charge unless the lender's fees and points are entered separately.
APR worked out by the actuarial method: 12 CFR 1026.22(a)(1) and Appendix J · Read October 1, 2026
Estimates from the inputs shown. Not a Loan Estimate or an offer to lend.
Inputs stay in this browser. Usage counts record the tool used and a few rounded figures, such as loan purpose, state and loan-amount band. No names, addresses or exact amounts.
Questions
How is the payment worked out?
Principal and interest on the loan amount at the rate and term, plus property tax, home insurance, mortgage insurance and HOA dues. Each of those can be entered in dollars or as a percent, for a month or a year; a year is divided by 12. A percent of tax, insurance or dues is of the price. A percent of mortgage insurance, or of the upfront fee, is of the loan before any financed fee.
The loan amount is the price less the down payment, plus any upfront fee added to the loan.
How does it work backward from a payment?
It tries prices, rates or down payments until the full monthly payment matches the target to the dollar. Anything entered as a percent moves with the price or the loan, so it's recalculated each time. Dollar amounts stay as entered.
If the target can't be reached, for instance because taxes, insurance and dues alone are more than the target, it says so.
How is the APR worked out?
This is an estimate worked out here, not an APR from a lender. Every closing cost and point counts as a finance charge unless you enter the lender's fees and points; then only that amount counts. An upfront fee added to the loan, such as FHA's upfront premium or the VA funding fee, counts as a finance charge too (12 CFR 1026.4(b)(5)). Mortgage insurance counts for the full term, because the tool doesn't know the program or when it would cancel. Each of these can only raise the APR, so the estimate errs high.
Copy Share Link and Print or Save PDF stay off until the closing costs are entered.
What does it leave out?
Adjustable rates and interest-only periods: the rate is treated as fixed for the full term. Temporary buydowns: use the Temporary Buydown. Escrow cushions and the first year's tax bill, which change cash to close but not the monthly payment: use Cash to Close. Mortgage insurance is treated as flat; it doesn't cancel.
These are estimates from the inputs shown, not a Loan Estimate or an offer to lend.