Mortgage Pro

Enter your details to estimate your total monthly property expenses.

Comprehensive Mortgage Payment Calculator

Planning to buy a home? Our mortgage payment calculator is designed to provide you with a high-accuracy estimate of your monthly housing costs. Unlike basic tools, Mortgage Pro factors in the often-overlooked expenses that make up your true monthly commitment.

Understanding Your Mortgage

When you use a home loan calculator, it's important to understand the components of your payment:

  • P&I (Principal & Interest): These are the core bank payments for the money you borrowed.
  • Property Escrow: Your annual property taxes and homeowners insurance are often divided by 12 and collected monthly.
  • Homeowners Association (HOA): If your property is in a managed community, these fees are a critical part of your budget.

Tips for Lowering Your Payment

Increase your Down Payment: Putting more money down reduces the loan principal and can eliminate the need for PMI.

Shop for Lower Interest Rates: Even a 0.5% difference in your interest rate can save you tens of thousands of dollars over 30 years.

Compare Loan Terms: Use this tool to compare a 15-year fixed mortgage vs. a 30-year fixed mortgage to see where you save most on interest.

Trust & Transparency

How This Calculation Works

We use the standard amortization formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]. Where P is principal, i is monthly interest, and n is number of months. PITI represents the total of Principal, Interest, Taxes, and Insurance.

Our Assumptions

  • Interest is compounded monthly.
  • Property taxes and insurance are estimated based on annual figures divided equally over 12 months.
  • Private Mortgage Insurance (PMI) is not included in this basic estimate.

Formula & Logic Last Updated: December 30, 2025