Mortgage Payment Calculator
Your full monthly payment — principal, interest, taxes, and insurance — plus the total interest you'll pay over the life of the loan.
Total monthly payment (PITI)
$1,947
Principal & interest
$1,597
Loan amount
$240,000
Total interest paid
$334,821
Total of 360 payments
$574,821
What this calculator shows
Enter your home price, down payment, interest rate, and loan term to get your monthly principal & interest payment. Add property tax, insurance, and HOA dues for your full monthly payment (PITI) — plus the total interest you'll pay and the total of every payment over the entire loan term.
The formula
Monthly Principal & Interest = Loan Amount × Monthly Rate × (1 + Monthly Rate)ᴺ ÷ [(1 + Monthly Rate)ᴺ − 1], where N is the total number of monthly payments. It's the standard amortization formula used by lenders.
Why it matters for investors
Your mortgage payment is the largest fixed cost in almost every rental property analysis — it drives cash flow, cash-on-cash return, and how much cushion you have if rent dips or a vacancy hits. Getting it right before running the rest of the numbers matters.
Frequently asked questions
What is PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four components most lenders include in a full monthly mortgage payment. This calculator shows both figures: principal & interest alone, and the total monthly payment including property tax, homeowners insurance, and HOA dues if applicable.
Why is total interest paid so much higher than the loan amount?
Over a 30-year loan, interest compounds on the remaining balance every month. Early payments are mostly interest with very little principal, which is why the total interest paid over the full term is often comparable to — or larger than — the amount borrowed, especially at higher interest rates.
How does a larger down payment affect my payment?
A larger down payment reduces the loan amount, which directly lowers your monthly principal & interest payment and the total interest paid over the life of the loan. It can also help you avoid private mortgage insurance (PMI) on a conventional loan, though this calculator doesn't model PMI directly.
Want the full picture?
A mortgage payment is one piece of the puzzle. Monte Estate adds cap rate, cash flow, cash-on-cash return, IRR, and a 10,000-trial Monte Carlo simulation — free to start, no credit card required.
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