Mortgage Loan Calculator (PITI)
Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. This calculator also allows you to enter your estimated insurance and property taxes. Press the "View Report" button for a full yearly or monthly amortization schedule.
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for this mortgage.
- Term in years
- The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
- Monthly payment
- Monthly principal and interest payment (PI).
- Monthly payment (PITI)
- Monthly payment including principal, interest, home owners insurance and property taxes.
- Annual property taxes
- The annual amount you expect to pay in property taxes. This amount is divided by 12 to determine the monthly property tax included in PITI.
- Annual home insurance
- The annual amount you expect to pay in home owners insurance. This amount is divided by 12 to determine the monthly home owners insurance included in PITI.
- Total payments
- Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
- Total interest
- Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
- Prepayment type
- The frequency of prepayment. The options are: none, monthly, yearly, and one-time payment.
- Prepayment amount
- Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
- Start with payment
- This is the payment number that your prepayments will begin with. For a one time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number ZERO, the prepayment is assumed to happen before the first payment of the loan.
- Total amount of interest you will save by prepaying your mortgage.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.