ZovaTool

Mortgage Calculator

Loan Amount
$320,000
Monthly P&I
$2,022.62
Total Monthly (PITI+HOA)
$2,547.62
Total Interest
$408,142.36
Total Paid
$728,142.36
Payoff
30y
Yr-1 Tax Savings
$4,966.73

PITI = Principal + Interest + Taxes + Insurance. Tax savings assume itemized deduction at your marginal rate (first-year interest).

How to use the Mortgage Calculator

  1. Pick your currency and enter the home price.
  2. Set your down payment percentage — the loan amount auto-updates.
  3. Enter the annual interest rate and loan term in years.
  4. Add property tax (annual % of home price), home insurance (per year), PMI rate (auto-applies when down < 20%), and HOA dues.
  5. Use Extra Monthly Payment to see how prepayment shortens the loan and saves interest.
  6. Switch to the Schedule tab for a full month-by-month amortization.
  7. Open Charts for the PITI breakdown and outstanding-balance curve.
Advertisement

Understanding your true monthly mortgage payment

A mortgage payment is more than principal and interest. Lenders bundle property tax, home insurance, PMI and sometimes HOA into one monthly payment called PITI. Our calculator shows each piece so you know exactly where your money is going.

PMI (Private Mortgage Insurance) typically applies when your down payment is below 20%. The calculator turns PMI on automatically so your monthly estimate is realistic — and turns it off the moment you cross the 20% threshold.

Extra payments are the most powerful lever you have. Even an extra $100 a month on a 30-year mortgage can cut years off the term and save tens of thousands in interest. Try it in the Extra Monthly Payment field.