Mortgage Calculator
Accurately calculate your complete monthly housing payment (PITI + PMI + HOA) across the US, model extra payoff savings, and inspect your full amortization schedule.
Top US production and manufactured home builders often offer forward interest rate commitments (e.g., 4.99% fixed) or up to $20,000 in closing cost credits through their affiliated mortgage companies. Review our comprehensive home builder guides:
| Year | Principal Paid | Interest Paid | Total Annual Payment | Ending Balance | Loan-to-Value |
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Frequently Asked Mortgage Questions
What is included in a monthly mortgage payment (PITI)?
A standard monthly mortgage payment consists of four components known as PITI: Principal (the money that reduces your loan balance), Interest (the lender fee for borrowing), Property Taxes (local municipal/county taxes usually held in escrow), and Homeowners Insurance (hazard protection required by lenders). If your down payment is less than 20%, it also includes Private Mortgage Insurance (PMI).
How much down payment do I need to buy a house in the US?
Down payment minimums depend on the loan type: 0% down for eligible military buyers using VA loans or rural buyers using USDA loans; 3.5% down for FHA loans (with a 580+ credit score); 3% to 5% down for conventional conforming loans; and 20% down if you wish to completely avoid paying Private Mortgage Insurance (PMI).
When does Private Mortgage Insurance (PMI) stop?
Under the federal Homeowners Protection Act, your lender must automatically cancel PMI once your mortgage principal balance reaches 78% of the original property value, provided your payments are current. You can also request written cancellation once your loan-to-value (LTV) ratio reaches 80%.
How much does an extra $100 or $200 per month save on a 30-year mortgage?
Paying an additional $100 to $200 per month towards your mortgage principal can save $30,000 to over $65,000 in total interest on an average $350,000 loan at 6.75% interest, while shaving 4 to 6 years off your 30-year repayment schedule.
Should I finance with a new home builder’s lender or an outside bank?
Production home builders (like Taylor Morrison, David Weekley, or Stanley Martin) often provide substantial financing incentives through their in-house mortgage affiliates, such as permanent interest rate buydowns (1% to 2% below market) or $10,000 to $25,000 in closing cost credits. Always compare their official Loan Estimate with at least two independent mortgage brokers to ensure their fees don’t erase the builder’s credit.