Mortgage Calculator
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Your mortgage breakdown, payment schedule, and savings analysis will appear here
Fill in the data and click calculate
Your mortgage breakdown, payment schedule, and savings analysis will appear here
Calculate your complete US mortgage payment with CENTERDOCK's free PITI calculator. Unlike basic calculators that only show principal and interest, our comprehensive tool includesstate-specific property taxes, homeowners insurance, PMI, HOA fees, closing costs, and advanced features like biweekly payments, ARM loan projections, and rent vs buy analysis to give you the true cost of homeownership.
Understanding PITI (Principal, Interest, Taxes, Insurance) is essential for first-time homebuyers and anyone refinancing. This calculator breaks down every component of your monthly payment, generates a complete amortization schedule with real dates, calculates your exact debt-free date, models extra payment scenarios (monthly, annual, or one-time), and even projects how inflation affects your taxes and insurance over time.
Principal is the portion of your payment that reduces your loan balance. In the early years of a mortgage, most of your payment goes to interest, but over time, more goes to principal. This is called amortization. Our calculator generates a complete schedule showing exactly how each payment is split month by month.
Interest is the cost of borrowing money, expressed as an annual percentage rate (APR). A lower interest rate means less money paid over the life of the loan. Even a 0.5% difference can mean tens of thousands of dollars in savings over a 30-year mortgage.
Property taxes are assessed by your local government and vary widely by location. States like Texas (1.68%), New Jersey (2.21%), and Illinois (2.08%) have high property taxes, while Hawaii (0.28%), Alabama (0.39%), and Louisiana (0.53%) have rates below 0.6%. Our calculator includes all 50 state averages and lets you enter a custom rate for more precise local estimates.
Homeowners insurance protects your property and is required by lenders. If your down payment is less than 20%, you'll also pay PMI (Private Mortgage Insurance) until you build 20% equity. PMI rates vary by LTV ratio: 0.5% for LTV 80-85%, 0.6% for 85-90%, 0.8% for 90-95%, and 1% for LTV above 95%.
Enable biweekly payments to see how paying every two weeks (26 half-payments per year = 13 full payments) can save you thousands in interest and shorten your loan term by years.
Model three types of extra payments: monthly (a fixed amount added to each payment),annual (a yearly lump sum, like a tax refund), or one-time (a single prepayment in a specific month). See exactly how much time and interest you'll save.
Considering an adjustable-rate mortgage? Enable ARM mode to set the fixed period (3, 5, 7, or 10 years) and expected rate adjustment. See your projected payment increase and total cost with rate changes.
Enter your current monthly rent to see a comprehensive comparison. Our analysis accounts for interest, taxes, insurance, PMI, maintenance costs (estimated at 1% annually), and closing costs to calculate exactly when buying becomes cheaper than renting.
Enter an expected inflation rate to see how your property taxes and insurance costs may increase over the life of your loan. Get a year-by-year breakdown of inflation-adjusted expenses.
By law, lenders must automatically cancel PMI when your loan balance reaches 78% of the original home value. You can request removal at 80% equity. Our calculator tracks PMI and shows the total PMI you'll pay, accounting for automatic removal when your LTV drops below 78%.
Building equity faster through extra payments or home appreciation helps you eliminate PMI sooner. All calculations are performed locally in your browser — your financial data is never shared or stored.
To plan your financial freedom, try our FIRE Calculator. For general loans, use the Loan Simulator. Understanding how interest accumulates is crucial; check our Compound Interest Calculator.