Emiro

Mortgage Calculator USA

Calculate your full PITI payment — principal, interest, property tax, insurance, HOA, and PMI. Compare Conventional, FHA, VA, and USDA loans. See the amortization schedule and stress-test rate rises. Updated for 2026 (Single filer, federal only) US rates.

Your details

Total monthly PITI
$3,017
P&I + tax + insurance + PMI
Monthly breakdown
Principal & interest$2,305
Property tax$385
Home insurance$167
PMI (until month 43)$160
Total interest
$479,836
Total repaid
$829,836
6.90% over 30 years · Property: $420,000

Balance over time

Watch how each repayment reduces your balance and shifts more money from interest to principal.

0y10y20y30y$829,836
Principal paidInterest paidRemaining balance

What if rates rise?

Your repayments at the current rate vs. a 1% and 2% rate rise.

At 6.90%
$2,305
monthly
+1% (7.90%)
$2,544
monthly
+$239 more
+2% (8.90%)
$2,791
monthly
+$486 more

Amortization schedule

Year-by-year (or month-by-month) balance, principal paid, and interest paid for the entire loan term. Download as PDF below.

30 years

YearPrincipalInterestBalance
1$3,624$24,037$346,376
2$3,883$23,779$342,493
3$4,159$23,502$338,334
4$4,455$23,206$333,879
5$4,773$22,889$329,106
6$5,113$22,549$323,993
7$5,477$22,184$318,517
8$5,867$21,794$312,650
9$6,285$21,377$306,365
10$6,732$20,929$299,633
11$7,212$20,449$292,421
12$7,725$19,936$284,696
13$8,276$19,386$276,420
14$8,865$18,796$267,555
15$9,496$18,165$258,059
16$10,173$17,488$247,886
17$10,897$16,764$236,988
18$11,674$15,988$225,315
19$12,505$15,156$212,810
20$13,396$14,265$199,414
21$14,350$13,311$185,064
22$15,372$12,289$169,692
23$16,467$11,194$153,226
24$17,640$10,022$135,586
25$18,896$8,765$116,690
26$20,242$7,419$96,448
27$21,684$5,978$74,765
28$23,228$4,433$51,537
29$24,882$2,779$26,655
30$26,655$1,007$0

Monthly view is approximated from yearly totals. Actual schedule depends on day-count and payment timing conventions used by your lender.

Why P&I alone is misleading

Most calculators only show your Principal & Interest payment, which is just the part that goes toward the loan itself. But your lender escrows Property tax + Insurance + PMI into the same monthly payment. Add HOA fees if you're in a condo or planned community, and the true monthly cost — known as PITI — is usually 30–50% higher than the P&I number alone.

Worked example with full PITI

A typical US homebuyer financing a $420,000 home with a $70,000 down payment (~17%) at a 6.9% 30-year fixed:

PMI drops off automatically when your balance hits 78% of the original property value — roughly year 9 in this example, freeing up $160/month to redirect to principal.

Loan type comparison

Use the loan-type selector at the top of the calculator to see how each affects your payment:

The mortgage interest deduction

You may deduct interest on up to $750,000 of mortgage debt if you itemize on Schedule A. With the 2026 standard deduction at roughly $15,000 (single) / $30,000 (married filing jointly), most homeowners find the standard deduction beats itemizing. Run the numbers — the mortgage interest deduction is less valuable than it used to be after TCJA.

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Frequently Asked Questions

What is PITI and why does it matter?▾
PITI stands for Principal, Interest, Tax, and Insurance — the four components your lender bundles into one monthly payment. On a $350,000 loan at 6.9%, the P&I is ~$2,304/month, but real PITI is typically $3,000–$3,400 once you add property tax (~$385/mo at 1.1%), home insurance (~$170/mo), and PMI if your down payment is under 20% (~$160/mo). Many borrowers focus only on P&I and underestimate their true monthly cost by 30–50%.
Conventional vs FHA vs VA vs USDA — which loan type is best?▾
Conventional is the standard choice if you have good credit (620+) and 3%+ down. FHA suits borrowers with lower credit scores (580+) or thin credit history — minimum 3.5% down — but MIP can't be cancelled like PMI. VA is the best deal if you qualify (active military/veterans): 0% down, no PMI, just a one-time funding fee. USDA works for rural/suburban areas with income limits and 0% down. Use our loan-type selector above to see how each affects your monthly payment.
Should I get a 30-year or 15-year mortgage?▾
30-year mortgages have lower monthly payments but you pay far more interest over time. On a $350,000 loan at 6.9%, a 30-year costs ~$480,000 in interest vs. ~$210,000 for a 15-year. Choose 30-year for cash-flow flexibility (and prepay aggressively if you can), or 15-year if you want to build equity faster and can comfortably afford the higher payment.
When does PMI go away automatically?▾
On a conventional loan, PMI auto-cancels when your balance reaches 78% of the original property value (LTV). You can also request cancellation at 80% LTV — usually requires a fresh appraisal at your cost. FHA's MIP is different: if your down payment was less than 10%, MIP lasts the entire life of the loan; if 10%+ down, MIP cancels after 11 years. To escape FHA MIP earlier, you'd need to refinance to a conventional loan.
How do bi-weekly mortgage payments save money?▾
Instead of 12 monthly payments per year, bi-weekly = 26 half-payments = the equivalent of 13 monthly payments. On a $350,000 loan at 6.9% over 30 years, switching to bi-weekly saves ~5 years and ~$95,000 in interest, with no change in your monthly cash flow. Most US lenders allow this with no fee.
Are mortgage interest payments tax-deductible?▾
Yes — you can deduct interest on up to $750,000 of mortgage debt for primary and second homes (for loans taken after Dec 15, 2017). You must itemize deductions on Schedule A, which only helps if total itemized deductions exceed the standard deduction (~$15,000 single / $30,000 MFJ for 2026). Many homeowners take the standard deduction instead.
What's an ARM and when should I use one?▾
An Adjustable-Rate Mortgage (ARM) has a fixed rate for an initial period (typically 5, 7, or 10 years) then adjusts based on an index. Pros: lower initial rate than 30-year fixed. Cons: payment can rise substantially after the fixed period. ARMs make sense if you'll definitely move or refinance before the adjustment, but most US buyers stick with 30-year fixed for certainty.
Should I pay discount points to lower my rate?▾
Each discount point costs 1% of the loan amount and typically lowers your rate by 0.25%. To break even: divide the cost of points by the monthly savings. On a $350,000 loan, one point costs $3,500 and saves ~$57/month — that's a 61-month (~5-year) break-even. Points only pay off if you'll keep the loan longer than that.
Does this calculator include property tax and insurance?▾
No — this is principal-and-interest only. To get your true PITI payment, add: property tax (varies by state, typically 0.5%–2.4% of home value annually) and homeowner's insurance ($1,500–$3,500/year typical). Lenders usually escrow these into your monthly payment, increasing it by $400–$1,000+ depending on location.