US Mortgage Calculator (30 & 15-Yr Fixed)
Estimate monthly mortgage payments including principal, interest, taxes, insurance, and PMI.
Estimate monthly mortgage payments including principal, interest, taxes, insurance, and PMI.
Estimate monthly mortgage payments including principal, interest, taxes, insurance, and PMI. Calculate exact, penny-accurate projections compliant with 2026 Regulations IRS • St. Louis FED (FRED) standards using Calconova's deterministic IEEE-754 (Decimal.js) calculation engine with instant breakdowns.
M = P × [ r(1+r)^n ] / [ (1+r)^n - 1 ] | Total PITI = M + Property Tax + Home Insurance + PMI + HOAIn the United States, your true monthly housing payment is PITI: Principal & Interest (M), local Property Taxes, Homeowners Insurance, Private Mortgage Insurance (PMI if down payment <20%), and HOA dues.
Pre-calculated benchmark tables across different budgets, terms, and rate models.
All calculations, amortizations, and scenario projections displayed on this page are strictly for informational and educational purposes. Nothing herein constitutes investment, financial, tax, underwriting, or legal advice. Actual interest rates, closing costs, lender fees, and statutory criteria may vary. Calconova explicitly disclaims all liability for any financial decisions or actions taken based upon these calculations. Users are strongly advised to consult a certified financial planner, CPA, or licensed lending officer prior to executing financial commitments.
If you put down less than 20% on a conventional US mortgage, lenders require PMI (typically 0.5% to 1.2% of the loan balance annually) to protect against default. Under the federal Homeowners Protection Act, you can request PMI cancellation once your loan balance reaches 80% of the original home value, and lenders must terminate it automatically at 78% LTV.
A 30-year fixed mortgage offers significantly lower monthly payments and greater budget flexibility, but costs substantially more in total lifetime interest. A 15-year fixed mortgage typically carries an interest rate 0.50% to 0.75% lower, builds home equity much faster, and saves over 50% in cumulative interest.
Most US mortgage servicers divide your estimated annual property tax bill and homeowners insurance premium by 12 and collect that amount each month into an escrow account alongside your principal and interest. When tax and insurance bills come due, the lender pays them on your behalf.
The standard 28/36 underwriting guideline states that your total monthly housing expense (PITI + HOA) should not exceed 28% of your gross monthly income (front-end ratio), and your total debt payments (housing plus auto loans, student loans, and credit cards) should stay at or below 36% (up to 43% for Qualified Mortgages).
Conforming US mortgages do not charge prepayment penalties. Any extra amount applied directly to principal immediately reduces the balance on which future monthly interest is compounded—allowing you to shave 5 to 8 years off a 30-year mortgage and save tens of thousands of dollars in interest.
Private Mortgage Insurance (PMI) is required on conventional loans when down payment is under 20%. Under the federal Homeowners Protection Act, PMI must automatically terminate once principal balance reaches 78% of the original property value.
PITI stands for Principal, Interest, Taxes, and Insurance. Most US mortgage servicers escrow property taxes and insurance into your monthly bill so they can pay the county and insurer on your behalf.
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