Advanced Mortgage Rate Calculator
Full PITI breakdown with PMI, amortization, affordability & refinance analysis. 100% free — no sign-up needed.
Year-by-Year Amortization Schedule
| Year | Annual Payment | Principal | Interest | Balance |
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Compare up to 3 lender rates side by side to find the best deal.
Full PITI Calculator
Includes Principal, Interest, Property Tax, Insurance, PMI and HOA — exactly how US lenders calculate your monthly payment.
Amortization Schedule
Year-by-year breakdown showing exactly how much goes to principal vs interest over your entire loan term.
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All calculations run in your browser. Nothing is collected, stored, or shared. Your financial data stays yours.
Calculations are estimates and may differ from actual lender quotes. This tool is for educational purposes only and does not constitute financial or mortgage advice. Consult a licensed mortgage professional before making any financial decision. | MortgageRatesCalc.online © 2026
Why Use the MortgageRatesCalc.online Calculator?
Most mortgage calculators only show your Principal and Interest. Ours gives you the complete picture — the same way your lender calculates it — including Property Tax, Homeowners Insurance, PMI, and HOA fees. Built by a finance professional, updated for April 2026 US mortgage rates.
Full PITI Breakdown
See your complete monthly payment — Principal, Interest, Tax, Insurance, PMI and HOA — not just a partial estimate.
4 Tools in One
Calculate standard mortgage payments, compare lender rates, check affordability using the 28/36 rule, and analyze refinance savings.
Built for US Home Buyers
Supports all US loan types — Conventional, FHA, VA, USDA and Jumbo loans. Updated with April 2026 average rates.
How to Use the Mortgage Calculator — Step by Step
- Enter your home price and your planned down payment amount
- Set your interest rate — we show the current US average as a guide
- Choose your loan term (30-year, 15-year, FHA, VA, USDA, etc.)
- Add your estimated annual property tax and homeowners insurance
- Enter HOA fee if applicable — enter 0 if not
- Click “Calculate My Mortgage Payment” to see your full PITI breakdown
- Open the Amortization Schedule to see your year-by-year payment breakdown
Understanding PITI — What Makes Up Your Mortgage Payment?
When lenders calculate your monthly mortgage payment, they look
at four components known as PITI:
Principal
The portion of your payment that reduces your actual loan balance. In the early years of a mortgage, very little goes to principal, this increases over time as your loan matures.
Interest
The cost of borrowing money from your lender. At a 7% rate on a $320,000 loan, you pay approximately $1,867 in interest in your very first month alone.
Taxes (Property Tax)
Most lenders collect property tax monthly through an escrow account and pay it on your behalf annually. The US average property tax rate is approximately 1.1% of the home’s value per year.
Insurance (Homeowners Insurance)
Lenders require homeowners insurance to protect the property. The US average homeowners insurance premium is approximately $1,428 per year as of 2026 — about $119 per month.
What is PMI and When Do You Pay It?
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20% of the home’s purchase price. PMI protects the lender not you in case you default.
PMI Cost
PMI typically costs between 0.5% and 1.5% of your loan amount
annually. On a $320,000 loan, that is $133–$400 per month added
to your mortgage payment.
How to Remove PMI
Under the Homeowners Protection Act, you can request PMI
cancellation once your loan balance reaches 80% of the original
home value. Your lender must automatically cancel it at 78%.
Our Free Mortgage & Finance Calculator Suite
MortgageRatesCalc.online is building the most complete free mortgage tool suite for US home buyers. All calculators are free, private, and require no sign-up.
Available Now
1 Mortgage Payment Calculator (PITI)
2 Rate Comparison Calculator
3 Home Affordability Calculator
4 Mortgage Refinance Calculator
Coming Soon
Home Loan Amortization Calculator
Mortgage Points Calculator
Debt-to-Income Ratio Calculator
Closing Costs Calculator
Rent vs Buy Calculator
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FAQs:
What is the current average mortgage rate in the US in 2026?
As of April 2026, the average 30-year fixed mortgage rate in the United States is approximately 6.8% to 7.1% APR. 15-year fixed rates average around 6.1% to 6.4%. Rates vary based on your credit score, down payment, lender, and loan type. Use our rate calculator above to see how different rates affect your monthly payment.
How much house can I afford on a $100,000 salary?
Using the standard 28/36 rule, on a $100,000 gross annual salary (about $8,333/month), your maximum housing payment should be $2,333/month (28%). With a 7% interest rate on a 30-year loan, that qualifies you for approximately $350,000 in home price with a 10% down payment. Use our Affordability tab above for your exact numbers.
What credit score do I need to get a mortgage in the US?
Conventional loans typically require a minimum credit score of FHA loans allow scores as low as 580 with 3.5% down, or 500 with 10% down. VA loans have no official minimum but most lenders prefer 620+. A score of 740 or higher qualifies you for the best available mortgage rates.
What is the difference between a 15-year and 30-year mortgage?
A 30-year mortgage has lower monthly payments but you pay significantly more in total interest over the life of the loan. A 15-year mortgage has higher monthly payments but you build equity faster and pay far less in total interest. For example, on a $320,000 loan at 7%, a 30-year term costs $446,000 in total interest vs $195,000 on a 15-year term — a saving of over $251,000.
What is the 28/36 rule for mortgages?
The 28/36 rule is a standard US lending guideline. It states that your monthly housing costs (PITI) should not exceed 28% of your gross monthly income, and your total monthly debt payments (housing + car loans + student loans + credit cards) should not exceed 36% of gross monthly income. Our Affordability Calculator applies this rule automatically.
What is an FHA loan and who qualifies?
An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. It allows lower down payments (3.5% with a 580+ credit score) and is easier to qualify for than conventional loans. FHA loans require mortgage insurance premium (MIP) for the life of the loan if your down payment is less than 10%.
What is a VA loan and who is eligible?
A VA loan is a mortgage benefit for eligible US military veterans, active-duty service members, and surviving spouses. VA loans require no down payment, no PMI, and typically offer lower interest rates than conventional loans. They are guaranteed by the US Department of Veterans Affairs.
About the Creator — Revati Deshmukh
MortgageRatesCalc.online is built and maintained by Revati Deshmukh, an M.Com student with 5+ years of knowledge in personal finance, mortgage planning, and financial analysis. Every calculator on this site is built using standard US financial formulas for accuracy and transparency.
This site is for educational purposes only. Always consult a licensed mortgage advisor before making financial decisions.
Final Disclaimer
All mortgage calculations on MortgageRatesCalc.online are estimates based on the values entered and standard US financial formulas. Results may differ from actual lender quotes due to credit score, lender fees, insurance costs, and local tax rates. This website is for educational and informational purposes only and does not constitute financial, legal, or mortgage advice. Always consult a licensed mortgage professional before making any financial decision.