Mortgage Payment Calculator
Estimate monthly mortgage payments with principal, interest, taxes, insurance, and PMI. Free for brokers and loan officers.
Pre-filled with the current 30-year average (Freddie Mac via FRED).
Monthly Payment
Enter details to see results.
What goes into a mortgage payment?
Borrowers often focus on the rate, but the monthly payment is usually a mix of principal and interest plus escrow items.
This mortgage payment calculator estimates a PITI-style payment and can include PMI when the down payment is under 20%.
How brokers use this
Use this calculator to give borrowers a quick payment estimate during your first conversation.
Once the borrower is ready to move forward, create a loan file in BorrowerDocs and send them a borrower portal to start uploading income and asset documentation.
FAQs
How do you calculate a mortgage payment?
A mortgage payment is primarily driven by loan amount, interest rate, and term. Real-world payments also include taxes, insurance, HOA, and sometimes PMI.
What is included in the monthly payment (PITI)?
This calculator estimates principal and interest plus property taxes and homeowners insurance. It can also include HOA and PMI.
Does this calculator include taxes and insurance?
Yes. It includes estimated property taxes and homeowners insurance.
When does PMI apply and how is it estimated?
PMI typically applies when the down payment is under 20%. This tool uses a simple estimated PMI rate for planning.
What interest rate should I use?
Start with a market rate for quick estimates, then update it to the borrower quoted rate.
Does this include an amortization schedule?
It shows payment breakdown and total interest. For a full amortization schedule, use your LOS or a dedicated tool.
How is this different from BorrowerDocs?
This is a standalone calculator. BorrowerDocs is the next step: a borrower portal and checklist to collect supporting docs once numbers make sense.
Collecting docs for this loan?
Create a free BorrowerDocs file and send your borrower a magic-link portal to upload pay stubs, tax returns, and bank statements.
Start for Free