Reviewed August 9, 2026 · 2026 FHFA and HUD loan limits referenced where applicable
Mortgage Calculator
Estimate principal, interest, property taxes, insurance, PMI and HOA fees using your own assumptions.
Loan Details
Freddie Mac PMMS, November 5, 2026. Conventional market benchmark, not an APR or lender quote.
Auto-fills available estimates after five digits. You can edit both costs below.
Monthly Costs
$417/month
$117/month
Mortgage payment, PITI and loan-cost guide
Quick answer: A complete mortgage estimate starts with principal and interest, then adds property tax, homeowners insurance, mortgage insurance and HOA dues when applicable. Use a current rate quote and local cost assumptions—the result is a planning estimate, not a lender offer.
Monthly payment formula
Principal and interest use the standard amortizing-loan formula. Taxes, insurance, PMI or MIP and HOA dues are separate housing costs.
Loan amount versus home price
Loan amount equals purchase price minus down payment. Closing costs are normally modeled separately unless they are financed.
Qualification is broader than payment
Lenders may review income, recurring debts, credit score, assets, property details and program rules. For an FHA loan, use the dedicated FHA loan calculator to model minimum down payment and mortgage insurance premium (MIP) assumptions.
Scenarios to calculate
- Compare 15-year and 30-year terms at the same loan amount.
- Test taxes, insurance, PMI and HOA instead of looking only at principal and interest.
- Add extra principal and compare the payoff date and total interest.
Next: build an amortization schedule, estimate how much house you can afford, review mortgage-rate context.
Mortgage Calculator: Monthly Payment, PITI and Amortization
Use the mortgage calculator to estimate a monthly home payment from the loan amount, interest rate and term, then add property taxes, homeowners insurance, PMI and HOA fees when they apply. The principal-and-interest portion uses standard fixed-rate amortization math; taxes, insurance, PMI and HOA are estimates based on the values you enter.
What is included in a mortgage payment?
PITI means principal, interest, taxes and insurance. Many borrowers also need to budget for private mortgage insurance, HOA dues, maintenance and utilities. Escrow practices vary by loan and lender, so the calculator is a planning estimate rather than a lender quote.
2026 conforming and FHA loan limits
For 2026, the FHFA baseline conforming loan limit for a one-unit property in most of the United States is $832,750. The one-unit high-cost ceiling can reach $1,249,125, with the actual limit determined by location. HUD's 2026 FHA one-unit national floor is $541,287 and the standard high-cost ceiling is $1,249,125. Always check the applicable county limit for a real transaction.
Debt-to-income ratio: use it as a planning measure
Debt-to-income ratio (DTI) compares recurring monthly debt with gross monthly income. Lenders and loan programs can use different underwriting thresholds. The current CFPB General Qualified Mortgage definition does not impose a universal 43% DTI cap; the former fixed 43% General QM limit was replaced with price-based thresholds. Treat common DTI percentages shown in planning tools as scenarios, not guaranteed approval standards.
For a focused estimate, use the Debt-to-Income Ratio Calculator or the Home Affordability Calculator.
PMI and cancellation
Conventional private mortgage insurance may apply when the borrower has a smaller down payment. Under the federal Homeowners Protection Act, eligible borrowers can generally request cancellation when the principal balance is scheduled to reach 80% of the original value, subject to statutory conditions, and automatic termination generally occurs at 78% for covered loans when the borrower is current. FHA mortgage insurance follows different rules and should not be treated as conventional PMI.
How to compare mortgage options
- 30-year vs. 15-year: a longer term usually lowers the required monthly principal-and-interest payment but increases total interest if rate and loan amount are otherwise equal.
- Extra payments: additional principal can reduce total interest and shorten payoff time; verify your servicer's payment application rules.
- Discount points: compare the upfront cost with monthly savings and how long you expect to keep the loan.
- Refinancing: include closing costs and calculate a break-even period instead of comparing rates alone.
Related mortgage calculators
Continue with the Mortgage Refinance Calculator, Mortgage Amortization Calculator, Closing Cost Calculator, Down Payment Calculator or FHA, VA & USDA Loan Calculator.
Sources and limitations
Year-specific limits are based on 2026 FHFA and HUD publications. Mortgage consumer and ability-to-repay guidance is cross-checked against the Consumer Financial Protection Bureau. Figures are estimates for education and planning, not a Loan Estimate, approval decision or financial advice. Reviewed August 7, 2026.
Plan beyond the first payment
If taxes or insurance changed after an escrow analysis, use the escrow shortage calculator. Comparing a current market-rate example? Read the 6.76% mortgage payment guide.
Mortgage Calculator FAQs
What is PITI in a mortgage payment?
PITI stands for principal, interest, taxes and insurance. Depending on the loan and property, your housing budget may also include PMI or other mortgage insurance, HOA dues, maintenance and utilities.
How is a fixed-rate mortgage payment calculated?
The principal-and-interest payment is calculated from the loan amount, monthly interest rate and number of monthly payments using the standard amortization formula. Property taxes, insurance, PMI and HOA costs are added separately when applicable.
Does a Qualified Mortgage have a universal 43% DTI limit?
No. The CFPB replaced the former fixed 43% DTI limit in the General Qualified Mortgage definition with price-based thresholds. Lenders and specific loan programs may still use DTI guidelines, so planning percentages are not guaranteed approval thresholds.
When can conventional PMI be cancelled?
For covered conventional loans under the Homeowners Protection Act, a borrower can generally request PMI cancellation when the principal balance is scheduled to reach 80% of the original value, subject to statutory conditions. Automatic termination generally occurs at 78% when required conditions are met. FHA mortgage insurance follows different rules.
What is the 2026 conforming loan limit?
The 2026 FHFA baseline conforming loan limit for a one-unit property in most of the United States is $832,750. The one-unit high-cost ceiling can reach $1,249,125, but the applicable limit depends on location.
What are the 2026 FHA one-unit loan limits?
HUD set the 2026 FHA one-unit national floor at $541,287 and the standard high-cost ceiling at $1,249,125. County-specific limits apply, and special statutory areas can follow different rules.
Continue your financial research
Use these closely related USFinNexus guides and tools to plan your next step.
If your estimate differs from a quote, compare the calculator with your lender’s payment breakdown before changing the loan amount.
To understand the formula behind the result, read how monthly mortgage payments are calculated.
Before choosing a loan term, compare 15-year and 30-year mortgage costs using the same borrowing amount.
Related guides
Related calculators
- Home Affordability CalculatorEstimate a home price that fits your budget.
- Refinance CalculatorCompare break-even timing and potential savings.
- DTI CalculatorCheck housing and total debt-to-income ratios.
Illustrative comparison scenarios
| Term | Monthly P&I | Scheduled interest |
|---|---|---|
| 10 years | $3,406 | $108,773 |
| 15 years | $2,613 | $170,398 |
| 20 years | $2,237 | $236,813 |
| 25 years | $2,026 | $307,686 |
| 30 years | $1,896 | $382,633 |
Educational scenarios, not quotes, approvals, investment forecasts or tax advice. See methodology and limitations.