Mortgage Calculator
Principal, interest, taxes, insurance — your true monthly cost.
Monthly Payment (PITI)
🏠 Real Estate Investment Analyzer Bundle — $49
The free calculator gives you one number. The workbook gives you the whole deal: cap rate, monthly cash flow, house-hacking math, and 5-year projections — in Excel or Google Sheets. One-time $49, instant download, 30-day money-back guarantee.
See what's inside → Buy the bundle — $49 →📉 Waiting for a rate cut has cost +$22,700 so far
You are comparing rates today, so the honest comparison is today's rate against the one you are waiting for. The rate bottomed at 5.98% in February 2026 and is 6.71% now, and on the median U.S. home twelve months of waiting is +$77/month and $22,706 in lifetime interest — rates have to fall 35 points before a 2027 buyer pays what a September 2025 buyer paid. See the math, with the sources — updated monthly from Freddie Mac, Case-Shiller and Census data.
🏠 Compare Mortgage Rates
Even a 0.25% rate difference saves thousands over 30 years. Shop lenders before you commit.
Try the free debt-to-income calculator →How the mortgage calculation works — terms, hidden costs, affordability ▸
A $400,000 house doesn't cost $400,000. With a 30-year mortgage at 7%, it costs $958,000. Use our free mortgage calculator to see the real numbers before you buy.
How the Calculator Works
Enter your home price, down payment, interest rate, and loan term. The calculator shows:
- Monthly payment (principal + interest)
- Total interest over the life of the loan
- Amortization schedule
15-Year vs. 30-Year Mortgage
On a $400,000 home with 20% down ($320,000 loan):
| Term | Payment | Total Interest |
|---|---|---|
| 30-year at 7% | $2,129 | $446,000 |
| 15-year at 6.5% | $2,785 | $181,000 |
The 15-year loan saves you $265,000 but costs $656 more per month.
The Hidden Costs of Homeownership
Your mortgage is just the start. Budget for:
- Property taxes: 1-2% of home value annually
- Homeowners insurance: $1,200-2,500/year
- HOA fees: $200-500/month (if applicable)
- Maintenance: 1-3% of home value annually
On a $400,000 home, expect $8,000-15,000 per year in non-mortgage costs.
How Much House Can You Afford?
The 28/36 rule:
- 28%: Mortgage payment ≤ 28% of gross monthly income
- 36%: Total debt payments ≤ 36% of gross monthly income
Example: $100,000/year income = $8,333/month gross. Max mortgage = $2,333/month.
💡 Compare Mortgage Rates
Even a 0.5% difference saves $50,000+ over the life of the loan.
Try the free mortgage calculator →The Bottom Line
Use our mortgage calculator to run the numbers. Don't let a lender tell you what you can afford — know it yourself.
Related: How Much House Can I Afford? | Debt-to-Income Ratio Calculator
🏠 Real Estate Investment Analyzer Bundle — $49
The free calculator gives you one number. The workbook gives you the whole deal: cap rate, monthly cash flow, house-hacking math, and 5-year projections — in Excel or Google Sheets. One-time $49, instant download, 30-day money-back guarantee.
See what's inside → Buy the bundle — $49 →